Following the successful application / renewal of work permit for your foreign workers, the Immigration Department would require you, the Employer to:
- Submit a security deposit of S$5,000.00 per worker. This can be in the form of an Insurance Bond.
China Taiping Insurance provides this type of Bonds for workers from China, India, Bangladesh, Thailand, Sri Lanka, Indonesia, Philippines etc sources approved by the Ministry of Manpower.
The period of Bond provided by China Taiping Insurance is 26 months.
- We provide very competitive premium for Immigration Bonds on all classes of foreign workers
Once our underwriting terms are accepted, for China Taiping Insurance to issue this bond, we require the following:
- A counter guarantee to be executed by the Employer and / or personal guarantors as per our underwriting terms agreed.
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