Apply For Permanent Residence

By Author: Shayne Hughes
Total Articles: 108
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Singapore population tipped at 5 million at the end of 2009, and one tenth of the population are permanent residents. In 2009, almost 60,000 foreigners were granted permanent residence status. The sophisticated infrastructure, education, safety and healthcare are the top reasons why these new permanent residents choose to make Singapore their home.

Singapore has been keeping an open door immigration policy to attract foreign talent and to maintain a healthy population growth. The driving factor has always been an economic one. The low birth rate and the need to improve human capital in Singapore have been the two main impetuses that led to the escalation in Singapore's population growth in the last two decades. Foreign talent is an invaluable asset to a competitive economy. Singapore has made a concerted effort in courting and retaining foreign talent through various schemes including the benefit of permanent residence status.

Who are eligible to apply for PR status?
1. Spouse and unmarried children (below 21 years old) of a Singapore Citizen 
(SC)/Singapore Permanent Resident (SPR)
2. Aged Parents ...
... of a SC
3. P, Q or S work pass holders
4. Investors/Entrepreneurs
What are PR Schemes?
1. Scheme for Professional/Technical Workers - with Employment in Singapore prior to application for PR, Employment Pass holder and below 50 years old
2. Scheme for Personnel & Skilled Workers - with Employment in Singapore prior to application for PR, Employment Pass holder and below 50 years old
3. Scheme for Investors – The following options are applicable on this scheme: Invest at least S$1 million in a new business startup or expansion of an existing business operation; Invest at least $1.5 million in a new business startup, expansion of an existing operation, approved Singapore-incorporated venture capital fund or Singapore-incorporated foundation or trust that focuses on economic development; and invest at least $2 million in a new business startup, expansion of an existing operation, approved Singapore-incorporated venture capital fund or Singapore-incorporated foundation or trust that focuses on economic development. Residential property can be purchased with not more than 50% of the investment amount
4. Foreign Artistic Talent Scheme - the Singapore Immigration and the National Arts Council (NAC) jointly administer this scheme. Eligible foreign talents should have received formal training and /or have relevant working experience and have already established a reputation both at home and abroad.
5. Approved-in-Principle (AIP) Scheme - This scheme provides a 5-year approval-in-principle PR to successful Hong Kong applicants. Holders can obtain Permanent Residence status if they secure employment or relocate their family to Singapore within the 5 years validity period.

For other concerns and inquiries, please visit Rikvin.com and/or contact the team of Rikvin for consultation.

For foreign investors who would like to incorporate a Singapore company and at the same time interested to be a Singapore permanent resident, Rikvin can assist with the application of Permanent Residence and procedure to start a new firm. You can call Rikvin at (65) 64388887 to discuss specific requirements obligation-free.