There are four pathways for firms to upgrade their "Basic Skilled" R2 WPHs to "Higher Skilled" R1 workers: * CoreTrade Scheme. Reg... Building and Construction Authority Annex A FACTSHEET A. TWO-YEAR UPGRADING PHASE 1 ... 1. In Budget 2014, DPM Tharman Shanmugaratnam announced that the government will be looking into mandating a minimum proportion of... Ministry of Manpower Annex A FACTSHEET A. TWO-YEAR UPGRADING PHASE 1. In ... 4. Eventually, non-compliant construction firms will have “excess” R2 WPHs revoked from 1 January 2019 onwards, until they fulfil ... Ministry of Manpower Annex A FACTSHEET A. TWO-YEAR UPGRADING PHASE 1. In ... B. ... 1. Starting from 1 January 2017, MOM will set the minimum R1 proportion at 10% per construction firm. 2. Construction firms... Ministry of Manpower Training « Silveroid Enterprise Pte Ltd Multi-Skill Scheme. Since July 2012, BCA implemented the Multi-Skilling scheme to allow construction firms to upgrade WPHs who hav... Silveroid Enterprise Pte Ltd Training « Silveroid Enterprise Pte Ltd Multi-Skill Scheme. Since July 2012, BCA implemented the Multi-Skilling scheme to allow construction firms to upgrade WPHs who hav... Silveroid Enterprise Pte Ltd Higher-Skilled workers for construction sector - Singapore 30 Mar 2026 —
There are two main tiers of fund management licenses in Singapore:
In Singapore, the R1 license is a type of driving license that allows holders to drive private cars. Obtaining an R1 license is a significant milestone for many individuals, as it provides them with the freedom to drive and travel conveniently. This paper aims to provide an in-depth understanding of the R1 license in Singapore, including its requirements, eligibility criteria, and application process. r1 license singapore
Holding an R1 License in Singapore is the "Gold Standard" for Asian asset management. It allows you to passport your services, gives you access to top-tier prime brokers (Goldman, Morgan Stanley), and allows you to legally charge performance fees.
To be eligible for an R1 license, applicants must meet the following requirements: There are four pathways for firms to upgrade
If you have a single family office managing only your own money, you likely don't need an R1. If you manage third-party money, you do.
The R1 is not for the faint of heart, but for serious asset managers, it is the only professional way to play in Asia’s wealthiest sandbox. TWO-YEAR UPGRADING PHASE 1
: Employers pay significantly lower foreign worker levies for R1 workers compared to R2.
The key distinction? An R1 license holder can only manage funds for:
Getting the license is hard; keeping it is harder. You must submit:
