Bulgaria ratified the investment protection agreement (IPA) between the European Union (EU) and Singapore, signed on 19 October 2018, by way of Decree No. 44, as published in Official Gazette No. 17 of 27 February 2024. The agreement was previously approved by the Bulgarian parliament (National Assembly) on 15 February 2024.
As previously indicated in communications from the Ministry of Manpower (MOM), effective September 1st, 2024, EP holders with expiring passes must not only meet the EP qualifying salary requirement but also successfully undergo the COMPASS assessment to renew their passes.
Additionally, MOM has announced that starting January 1st, 2025, the EP qualifying salary for new applications will be adjusted to a minimum of $5,600, with a higher threshold of at least $6,200 for the financial services sector. This updated EP qualifying salary will also apply to EP renewals expiring from January 1st, 2026.
Further details about the Eligibility for Employment Pass can be found in our article.
Source: mom.gov.sg