Attracting talent to Singapore for residence and employment is one of the government’s goals. The government wants foreign people to become permanent residents and make Singapore their home. Due to its great infrastructure and public services, Singapore is routinely chosen as the best Asian city to live in. Singapore has one of the lowest crime rates in the world, and its citizens enjoy a great quality of life. Singapore is one of the wealthiest countries in the world when measured by GDP per capita.
Singapore has established itself as a world-class destination with a multi-racial and multi-cultural community that is peaceful. It has a population of 6 million people and the main languages spoken are English and Mandarin. Residents who live in Singapore benefit from the country’s political stability and economic development. Singapore also features a well-regarded educational system and a trustworthy health-care system.
- Option A: Invest at least S$2.5 million in forming a new business entity or expanding an existing one.
- Option B: Invest at least S$2.5 million in a GIP fund focused on Singapore-based businesses.
- Option C: Invest S$2.5 million in a new or existing Singapore-based single office with at least S$200 million in assets under management (AUM).
- Entrepreneurs – The investor must have at least three years of experience as an entrepreneur and a successful business owner. Investors must control at least 30% of a company’s stock (or a combination of two companies) and provide audited financial statements for the three years before their application. The previous year’s turnover must have been at least SGD 200 million, and the annual turnover must be at least SGD 200 million.
- Next-Generation Entrepreneurs – The investor’s immediate family must possess at least 30% of a company (or two companies) and be able to provide audited financial statements for the three years prior to their application. The previous 12 months’ turnover must have been at least SGD 500 million, and the previous three years’ turnover must have been at least SGD 500 million. The investor must be a member of the board of directors of the company.
- Founders of a fast-growing firm: The investor must be a founder and one of the largest individual shareholders in the company. The company must be worth at least SGD 500 million to be considered.
- Principles of Family Offices: The investor must have a minimum of five years of entrepreneurial, investment, or management experience, as well as a net investible asset base of at least SGD 200 million. Only the Family Office Option is open to this type of applicant.
The application will be processed in 6-8 months. The appropriate authority will contact you for an interview while processing your application. If your application is granted, you will be given an Approval-in-Principle PR that is valid for 6 months and requires you to make your investment during that time. Documentary proof of your investment, such as share certificates and title deeds, will be required to be presented and held by the authorities for a period of five years. You will be granted final PR status once the authorities have received these documents.
After you’ve completed all of the necessary steps and gotten your blue identity card, which is issued to all permanent residents of Singapore, you can begin contributing to the country’s economy. You will also benefit from being able to stay in the nation without a visa, as well as tax breaks and education subsidies for your children, among other local rights.