Ministry Of Manpower (MOM) requires a Levy Bond for each Work Permit holder for the following:
- The workers’ Work Permits have been cancelled because of unpaid levies.
- Employers who have been late in levy payments for at least 3 times within 12-month period.
- Change in ownership of sole proprietorships.
- New business entity employing foreign workers. The business entities include:
- Incorporated business that has a paid-up capital of less than $50,000.
How much to pay?
The amount of levy bond required depends on the foreign worker’s skill level.
|Worker’s Skill Level||Level Bond Amount|
|Basic and higher skilled||$600|
How to pay for levy bond?
Levy bond can be paid with an Insurance/Banker’s Guarantee made payable to the Controller of Work Passes. MOM does not accept cheques.
The validity period/monitoring period of levy bond is usually 12 months and 6 months for newly registered companies. The levy bond will be discharged when this monitoring period expires.
The bond monitoring period may be extended if there are more delays in levy payment.
For a quotation, contact us today at 6238 3616 or