Commercial

Foreign Worker Bond Singapore – Employment Agency Insurance Bond

If you are operating an employment agency in Singapore, obtaining the appropriate Foreign Worker Bond is an important requirement under the Ministry of Manpower (MOM) regulations. A Foreign Worker Bond Singapore policy helps employment agencies meet the mandatory security deposit requirements while providing financial protection and regulatory compliance.

At Ins-Solutions Agency, we provide comprehensive Employment Agency Insurance Bond solutions designed for businesses of all sizes. Whether you are setting up a new employment agency or renewing your existing bond, our experienced consultants can recommend the most suitable protection based on your business requirements and the number of Work Permit or S Pass holders under your management.

Our insurance solutions are competitively priced, processed efficiently, and fully comply with current MOM requirements. In addition to Foreign Worker Bond Singapore coverage, we also assist employers with related protection such as Work Permit Insurance Singapore, Foreign Worker Medical Insurance, Foreign Worker & Trainee Package and other business insurance solutions to ensure complete compliance.

The security deposit amount required depends on your agency's operating history, demerit points and the number of Work Permit and S Pass holders placed. The table below provides a guide to the various security deposit requirements and available guarantee limits for employment agencies in Singapore. Under the new Employment Agency (EA) Regulatory Framework implemented in April 2011 by Ministry of Manpower, Employment agencies with a Comprehensive or Select License will be required to furnish a security deposit of between $20,000 and $60,000.

Contact Ins-Solutions Agency today to obtain a competitive quotation for your Foreign Worker Bond Singapore requirements and let our team help you remain compliant with Singapore's employment regulations.