– Investors can obtain permanent residence in Singapore by establishing a new business in Singapore or investing in an approved fund.
– Transparent government with pro-business policies.
– High standards of living.
– Cornerstone of entertainment and culture in Asia.
– Can include spouse, dependent children under 21 years.
– Parents and older children can obtain 5-year visit visa.
– Eligible to apply for Citizenship after holding permanent residence for at least 2 years.
– Clean criminal record.
– Have a substantial entrepreneurial background (at least 3 years’ experience), and will need to provide 3 years of audited financial statements.
– Must have run a business with annual turnover of at least SGD50 million in the year prior to application and at least SGD50 million p.a. on average over the last 3 years.
– Applicants can consolidate their businesses to meet the minimum turnover requirement.
– If the company is privately owned, the applicant must have a shareholding of at least 30% of the company.
– Must submit a detailed business or investment plan, including key milestones, which must be realized within 3 years of the date of investment.
– The business must be in an approved industry sector.
– Option A – invest at least SGD2.5 million in a new business entity or in the expansion of an existing business in an approved business sector.
– Option B – invest at least SGD2.5 million in an approved fund that invests in Singapore-based companies.
– Payment of application fee to the Singapore Government.
– Application forms and supporting documents must be submitted within 1 month of payment of the application fee.
– Applicant attends interview with Contact Singapore.
– Approval in Principle (AIP) issued within 2-4 months.
– Must make investment within 6 months of AIP.
– Final approval granted upon proof of qualifying investment.
– Applicant must move to Singapore and complete permanent residence (PR) formalities within 12 months from final approval.
– Upon formalization of PR, the applicant and dependents will be issued a Re-Entry Permit (REP) valid for 5 years to enable PR to be maintained when outside Singapore.
– Upon expiry the REP is renewed for 3- or 5-years subject to:
– The number of employees hired; and
– The business expenditure; and
– The amount of time spent in Singapore.