If you’re hiring non-Malaysian foreign workers in Singapore, the Ministry of Manpower (MOM) requires you to provide a security bond of S$5,000 per worker. This deposit serves as a financial guarantee that both the employer and the foreign worker will comply with all conditions tied to the work permit. It ensures that the government is protected in case of violations, such as failure to repatriate the worker or unpaid levies.
Instead of paying this amount in cash, employers can opt for a more cost-effective solution: Security Bond Insurance.
At AWG Insurance, we offer MOM-compliant security bond insurance in Singapore, allowing you to meet legal requirements without tying up your business capital. Our security bond insurance contains policies that are specifically designed for employers hiring non-Malaysian work permit holders, ensuring full compliance with MOM rules while giving you the financial flexibility you need.
📄 How Security Bond Insurance Works in Singapore
Rather than locking up S$5,000 in cash per worker, many employers in Singapore choose security bond insurance—a policy-based alternative that satisfies MOM’s security bond requirement while preserving valuable working capital.
Key responsibilities covered under the bond include:
- Ensuring timely repatriation of the worker
- Payment of outstanding salaries or levies
- Compliance with work permit regulations and employment laws
At AWG Insurance, we simplify the process and provide full support from start to finish:
- Eligibility Check: Our team begins by assessing your company’s registration details, industry type, and foreign manpower requirements. This allows us to determine whether you’re eligible for security bond insurance in Singapore and recommend the most suitable plan for your business profile.
- Document Submission: Our consultants will guide you through the process to ensure all documents are accurate and complete for swift approval.
- Instant Quotation: Once your documents are verified, we’ll provide a fast and competitive premium quote based on factors such as the number of workers, industry risks, and company size. We aim to offer the best value while ensuring complete compliance with security bond MOM standards.
- Policy Issuance & Submission to MOM: Upon acceptance of the quote, your bond certificate will be issued immediately. We will submit the certificate directly to the MOM through the appropriate e-service channels, ensuring there are no delays to your workers’ permit approvals.
In most cases, your security bond insurance can be fully processed and approved within three working days. As a trusted
insurance agent in Singapore,
we ensure speed, accuracy, and affordability.
Required Documents
To apply for a security bond in Singapore for foreign workers, please prepare the following:
- ACRA Bizfile – Company registration document (issued within the last 3 months)
- In-Principle Approval (IPA) Letter – Issued by the Ministry of Manpower for the specific foreign worker.
Our consultants will assist you with completing and submitting all necessary documentation.
Who Needs a Security Bond?
Any employer in Singapore intending to hire non-Malaysian foreign workers on a work permit is legally required by the MOM to furnish a security bond. This requirement applies to all sectors and company sizes, from small businesses to large corporations. Without a valid bond in place, MOM will not issue or renew a work permit.
💡 Not sure what you need? Our team can guide you end-to-end.
