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Singapore Faces Competition for High Calibre Talent

  • an annual salary ranging between CNY1 million and CNY1.2 million (US$157,000 to US$190,000),
  • a three-year national science research grant worth CNY3 million and CNY5 million (US$470,000 to US$790,000),
  • financial subsidy of CNY1 million (US$157,000) and
  • housing allowance of CNY300,000 to CNY500,000 (US$47,000 to US$79,000) or equivalent apartment.

A favorable visa as well tax rate, medical care and insurance policies are part of the package as well. Additionally, the national program is set to trickle down to provincial and municipal levels.

Singapore company registration specialist Rikvin recognizes that the OTFE Project could lure high-calibre talent to look to China as a relocation destination in Asia and this may in turn lure talent away from Singapore.

Mr. Charn Rao, Rikvin’s Risk and Compliance Manager said, “The five star treatment offered by the OTFE Project certainly positions China as a fierce competitor for gold collar talent in the region. By offering an attractive package, China is positioning itself not only as a work and research destination but an attractive location for professionals with families.”

“However, as Jim Rogers said years ago, Singapore offers a much cleaner and cosmopolitan environment that is more conducive for long term relocation. Although the republic offers a highly-demanded Singapore employment pass program as well as numerous funding programs across all industries, they are in no way as plump as the OTFE package for high calibre talent.”

“Nonetheless we note that China’s unique situation calls for a unique strategy and the OTFE Project is one of them. In Singapore’s case, we may not require the same volume of experts. However, the possibility of a brain drain could not be eliminated from the equation,” affirmed Mr. Rao.

ABOUT RIKVIN:
Established in 1998, Rikvin has since partnered with thousands of investors, entrepreneurs and professionals in their pursuit to access business opportunities overseas. Rikvin’s areas of expertise include company incorporation, offshore company setup, accounting, taxation and other related corporate services. Rikvin is also a licensed employment agency with the Ministry of Manpower (MOM) and offers a full spectrum of Singapore work visa services for foreign professionals who wish to relocate to Singapore.

20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
(65) 6320 1888
http://www.rikvin.com/

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/6/prweb9646365.htm

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