Increase In Local Qualifying Salary

• Published date: 25 March 2024
• Subject Matter: Employment and HR, Employee Benefits & Compensation
• Law Firm: Fakhoury Global Immigration
• Author: -1 Fakhoury Global Immigration

Effective July 2024, an increase in Singapore's Local Qualifying Salary (LQS) from S$1,400 to S$1,600 per month will impact a firm's foreign worker quota entitlement. The minimum hourly rate has also been raised to S$10.50 per hour (up from S$9). The LQS is used to determine the number of local employees that can be used to calculate a company's Work Permit and S Pass quota entitlement. With the increase in LQS, companies may need to adjust their hiring strategies and workforce composition to comply with the new regulations.

Furthermore, it has been announced that effective...