A security bond/immigration bond, also known as foreign worker bond, is a legally binding contract to pay MOM (Ministry of Manpower) if the employer or work permit holder violates any of the Work Permit Conditions. Employers are required to purchase a $5,000 security bond for each non-Malaysian foreign worker (Work Permit holders only) including migrant domestic worker (MDW) they are employing. It can be purchased from a bank (banker’s guarantee) or an insurance company (insurance bond). Note that a security bond is not required for S Pass holders.
Following the successful application/renewal of work permit for foreign workers, the Ministry of Manpower (MOM) will require the Employer to submit a security deposit of $5,000.00 per worker. The bond period can be 14 or 26 months depending on the In-Principal Approval (IPA) issued.
The bond is between the employer and the Singapore Government. The intent is to ensure that both employer and worker comply with the conditions of the Work Permit. Employers cannot ask the worker to pay for the bond.
