The Personalised Employment Pass (PEP) is designed specially for top-tier professionals. The PEP gives its owner some flexibility as it is not tied to any employer. For example, the PEP is valid for 3 years. During this period, a PEP holder may change jobs without re-applying for a new Pass. In addition, a PEP holder may stay in Singapore for up to 6 months while in between jobs.
The downside is that the pass cannot be renewed.
Furthermore, the flexibility comes at a price. To qualify, existing P1 EP holders must earn a fixed monthly salary of S$12,000. Overseas-based applicants must not be unemployed for longer than 6 months at the time of application. On top of that, they must show proof that their last drawn fixed monthly salary was at least S$18,000. Per annum, the minimum fixed salary should be no less than S$144,000.
PEP holders enjoy dependants’ privileges very much like P1 EP holders. They may relocate immediate family members (legally married spouse and children under 21 years) and parents via the Dependant’s Pass and LTVP respectively.