Singapore Permanent Residence Information

By Author: Diane Paz
Total Articles: 172
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There are two different investment programs available for wealthy foreigners who are eligible for Permanent Residence (PR) status in Singapore: the Global Investor Programme or GIP and the Financial Investor Scheme or FIS. These programs may not be available for everyone but anybody who has lots of assets interested in establishing a permanent residence in Singapore and willing to invest in Singapore may find one of these programs useful.

Global Investor Programme

Global Investor Programme permanent residency applications are assessed by the Economic Development Board (EDB) and Contact Singapore. To be considered for GIP PR status investors must either:

• Possesses at least 3 years of documented entrepreneurial or business experience and currently owns a company earning at least S$30 million in gross sales in the most recent year or an average of S$30 million over the last 3 years
or

• Holds position as senior corporate manager with corporate management experience of at least 10 years and currently employed as a senior manager in a company earning at least S$100 million in gross annual ...
... sales.

Starting January 2011, eligible applicants with the required entrepreneurial and business or senior management experience may choose between two GIP investment options:

Option 1: Invest a minimum of S$2.5 million in a startup business or expansion of an existing Singapore business. Approval of the initial investment by a Singapore incorporated venture capital fund or a Singapore incorporated foundation or another trust focusing on economic development is required.

Option 2: Invest in a GIP approved fund at least S$2.5 million. Prior approval of the initial investment must be made by the Singapore incorporated venture capital fund or Singapore incorporated foundation or another trust focusing on economic development.

Under the Global Investor Programme applicants may include their immediate family in their PR application. Included in the term immediate family are the applicant's spouse and unmarried children who are less than 21 years. Parents of the applicant or the applicant's spouse may apply for a renewable five-year Long Term

Visitor Pass.

Financial Investor Scheme
Reviews for Financial Investor Scheme applications for PR are made by the Monetary Authority of Singapore (MAS). Eligibility is determined by the following: applicant demonstrating a net personal worth of S$20 million and making a deposit of at least S$5 million of assets with a Singapore financial institution regulated by the Monetary Authority of Singapore for at least five years. Bank deposits, capital assets, and other investment instruments may comprise the assets. An investment of up to S$3 million of the S$5 million may be made in land or land and building in Singapore.

Singapore is a modern country offering a stable government and economy and a healthy quality of life for both work and leisure, making Singapore an attractive place to live as well as a good place to invest assets. Easy travel in and out of the country and working without a work Visa are some of the benefits of holding a PR status. You may buy property more easily and your children are eligible for entry to Singapore's public education system. Because of these benefits, many Europeans and North Americans who are currently living in Singapore or considering working and living in Singapore are attracted to seek permanent residence status.

Resource Box:

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