Residence program Singapore

The Republic of Singapore, also known as Lion City or the Little Red Dot, is an island city-state of Asia, made up of a main island and sixty-two other islets. It is a founding member of the ASEAN and is located to the south of the State of Johor in the peninsula of Malaysia and to the north of the islands Riau of Indonesia, separated from these by Strait of Singapore. Its population is about 5.5 million, of which about 75 percent are Chinese, with the rest being Malay, Indian or Eurasian minorities. This multicultural diversity is reflected in the four official languages of the country: English, Chinese, Malay and Tamil. Its official currency is the Singapore Dollar (SGD).

If you wish to invest and obtain residency in Singapore you may apply for the Global Investor Program.

Under this program, foreign-nationals who invest at least S$2,500,000 setting up a new business entity or in the expansion of an existing business operation or in an investment fund, may be eligible for permanent residency.

Apart from the investment, to be eligible for Permanent Residency under the GIP, you must have a substantial business track record and a successful entrepreneurial background. Investment must be made within 6 months after your permanent residency approval-in-principle.

Once you get your Permanent Residence permit, a 5-year Re-entry permit (REP) will be issued. This permit allows you to maintain your Singaporean immigration status when you are abroad.

For a three-year renewal:

- You or at least one of your dependents must have resided in Singapore for more than half the time in the previous 5 years; OR

- You have set up a business in Singapore which employs at least 5 Singapore citizens and has had an annual business expenditure of at least S$1,000,000, or in the case you have invested in an existing business, employment and expenditure increments have been at least 5 Singaporean citizens and S$1,000,000, respectively.

For a five-year renewal:

- You or at least one of your dependents have resided in Singapore for more than half the time in the previous 5 years; AND

- You have fulfilled investment conditions; AND

- You have set up a business in Singapore which employs at least 5 Singapore citizens and has had an annual business expenditure of at least S$1,000,000, or in the case you have invested in an existing business, employment and expenditure increments have been at least 5 Singaporean citizens and S$ 1,000,000, respectively.

Your spouse and unmarried children below 21 y.o. may be included in your Permanent Residency application. Note that your male children who become Permanent Residents may be liable for National Service. If you wish to bring your parents and unmarried children 21 y.o. and above, they may apply for a 5-year Long-term Visit Pass (LTVP), which will be tied to your REP.

Citizenship

After two years of Permanent Residence, you may be eligible for citizenship under the economic scheme, based on your own merits. You will need to show exceptional economic merits and/or family ties with a citizen to get the application approved. The final decision is at the sole discretion of the Government of Singapore.

It is important to note that Singapore does not recognize dual citizenship. Therefore, to become a Singaporean citizen, you must renounce your previous nationality.

Requirements

- You must have at least 3 years of an entrepreneurial and business track record and must show evidence of it, with an audited financial statement of your company for the last 3 years by an accredited audit firm.

- Your company’s turnover must be at least S$50 million in the year preceding your application, and at least S$50 million per annum on average for the three years preceding your application. You may consolidate your businesses to meet the minimum turnover criteria, all of which must only be engaged in one or more of a list of defined industries.

- If your company is privately-held, you should have at least 30% shareholding in the company. Your role in the company, as well as the growth and profitability of your company, will be taken into consideration.

- After making the required investment, you must submit the documentary evidence of it via a certified copy of the investment documents, a bank statement showing that the investment was made from your personal bank account opened solely in your name with a Singaporean registered bank, and the original signed undertaking on the Terms and Conditions of the investment made.

Dual Citizenship

Dual citizenship is not recognized in Singapore. To become a citizen of Singapore, you must renounce your previous nationality.

Documents Required

Certified copy of passport

Original or Certified copy of Birth Certificate (if applicable)

Notarised copy of Family Census/Household Registry

Evidence of Business Background

Family members background

Original or Certified copy of Marriage Certificate (if applicable)

Two passport-size photos

Audited accounts of the company (3 years) (if applicable)

Certificate of shareholders by the Registrar of Companies (if applicable)

Certified copy of Business License or Incorporation documents (if applicable)

Curriculum Vitae

Copy of ACRA (Accounting & Corporate Regulatory Authority) (if applicable)

Business Plan

Receipt of payment of fees

Undertaking on the Terms and Conditions of the Program

Further information

For more information on how to obtain a residence permit in Singapore, please contact us.

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