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Security Deposit

The security deposit amount that will be required of employment agencies will vary. Those that do not furnish sufficient security deposit will not be allowed to submit any new work pass applications.

  • Employment agencies with a Select Licence will be required to furnish a $20,000 security deposit.
  • Employment agencies with a Comprehensive Licence will be required to furnish a security deposit of between $20,000 and $60,000. (See table below for details.)

S/No

Attribute of EA

Security Deposit Requirement

1

All employment agencies with a Comprehensive Licence, unless they meet (2),(3) or (4)

$60,000

 2

Employment agencies that placed 200 or less Work Permit and S Pass holders in past 12 months

 $40,000

 3

Employment agencies that accumulated 3 or less demerit points in the past 12 months

$40,000

 4

Employment agencies that meet both (2) and (3)

 $20,000

All new employment agencies with a Comprehensive Licence will be required to furnish a $60,000 security deposit. This requirement will only be reviewed after 12 months of operations and subsequently on a monthly basis. It will be revised depending on their placement volume and track record as shown in the table above.

To check the placement volume and demerit points of an employment agency, please visit the Employment Agency Directory.

Discharging your Security Deposit Liabilities

We will discharge your security deposit liabilities six months after the termination or expiry of your licence, so as to hold your employment agency against any continued liabilities, which includes your responsibility to refund fees to any applicant that has been placed for employment.

For employment agencies which have changed its entity type (e.g. sole-proprietorship to private limited company) and applied for a licence under the new entity, we will not discharge your old security deposit liabilities even when a new security deposit under the new entity has been furnished to us. The old security deposit is tied to the old entity, not the new entity . Hence, it cannot be discharged earlier.

Last updated on 10 October 2012 03:20:42