SINGAPORE
Many new immigrants are welcomed to this city-state every year, attracted by a high quality of life, security, and a very business-friendly government with low taxes. Singapore is an important regional business and transportation hub and a highly sophisticated international financial centre. It is also possible to apply for Singapore’s citizenship and its passport, undoubtedly one of the most respected travel documents in the world, after as little as two years of residence.
As one would expect, Singapore has implemented a sophisticated immigration regime to attract the kind of individuals they want, while keeping out undesirable immigrants. There are many categories under which you can apply for Singapore residence and later citizenship, and it is essential to take advice from a knowledgeable professional to make sure that you are applying under the right category. The following is intended only as a rough guide, and requirements change frequently, so please contact us for further discussions.
Immediate Permanent Residence (PR) is available in the following cases:
- Singapore PR Scheme for Capital Investors: Investment of at least US$2.5 million in either a new business or certain government-approved funds. Besides having the funds available, you must also have a good business track record, an entrepreneurial background and a business proposal or investment plan. Qualification requirements are strictly enforced and many applications are rejected.
- Singapore PR Scheme for Foreign Artistic Talent: Singapore is keen to promote itself as an arts hub. If you have a talent for arts, photography, dance, music, theatre, literature and film, you can apply for Singapore permanent residence under this category. You must be a well recognized artist in your own country, preferably with an international reputation.
- Singapore Landed Permanent Residence (LPR) Scheme: The LPR Scheme is open to individuals who have either top notch education or professional background. As a rule of thumb, you must be in the top 1% of your competitive landscape on a global basis. Once approved, you must relocate to Singapore within one year and find employment to fully secure your Singapore Permanent Residence status.
In reality, however, most new immigrants arrive in Singapore on a Professional Employment Visa pass, that can later be converted to Permanent Residence and even Citizenship based on establishing a positive track record in Singapore. The qualifications for temporary passes are less strict and do not require any substantial investment. The permit will be approved based on the credentials of the applicant, and the employer if applicable.
From a practical point of view they confer all the same benefits as PR, with the exception that it is easier for the government to cancel these permits and expel the immigrant from the country at any time.
There are four schemes available under the Professional Employment Visa category, the two most interesting of which are:
- Entrepreneur Pass (EntrePass) for owners of newly incorporated (or to be incorporated) Singapore companies who wish to relocate to Singapore to operate their new business. This is the main category under which we assist new immigrants to Singapore. We can help with formation of a Singapore company and walk you through the application process. It is important, however, that the company then starts business and trades, remaining viable, because the government will come back to review this when the EntrePass is due for renewal after 1-2 years.
- Employment Pass (EP) for company owners or skilled employees that will be working in Singapore. Your fixed monthly salary must be more than S$3,000 and you should be a degree holder from a reputable university.
Regarding Singapore citizenship, whilst in many cases it is highly desirable, clients should be aware that Singapore does not permit dual citizenship, requiring the renunciation of all previous citizenships, and in some cases military service is required from new citizens. For this reason, many clients who are immigrating to Singapore may choose a different country, such as St Kitts and Nevis or Dominica, as a new citizenship before applying for Singapore residence.
NTL has representatives in Singapore. We suggest scheduling an initial consultation with our Singapore consultants by telephone, followed up by a personal meeting in Singapore if the conclusion of the telephone conversation is positive. Please contact any NTL International office in the first instance to make arrangements.