A well-known international trading destination and a global transportation and business hub, Singapore is considered a glowing example of a recently developed major economy. It ranks among the best places in the world for business and has a well-developed financial system. Singapore is also home to many Asian multinational companies who are attracted to the investor-friendly policies on the island.
For prospective immigrants, Singapore provides a variety of schemes under which they can obtain permanent residence in Singapore. The Singaporean Government has continuously tried to promote the residency of highly skilled individuals and investors.
Singapore Residency Overview
Among the most popular schemes for migration in Singapore are: The Global Investor Program invites Investors and Entrepreneurs to reside in the country for investors who can prove a profitable business and a business plan; The Employment Pass scheme allows foreign individuals earning more than $3,300 to work in Singapore. The spouses and Children of a Singapore Citizen or Permanent Residential can claim residency; The aged parents of a Singapore Citizen can claim residency. It must be noted here that individuals who hold a Singapore Permanent Residency from 2 to 6 years can apply for citizenship. Hence, obtaining a residence permit may be the first step to be a citizen of Singapore.
While it is possible to move to Singapore and work solely on a work permit, known as the Employment Pass, the national government has created a program to attract highly valued foreign nationals to live and work abroad in the country on a long-term basis. This Singapore Permanent Residence (PR) program allows qualified expats to live and work in the country for at least five years. The purpose of introducing this program was to incentivize high net worth individuals to move to Singapore and inject capital into the national economy. If you are not a prospective investor or a spouse, parent, or child dependent on a Singapore citizen, you’ll need an Employment Pass to legally work and live in the country. This can be applied for after being hired by a Singapore company.
All permanent residence applications must be submitted online using the e-Service.
You may submit a PR application online with a valid Singpass account if you are a/an:
- SC or PR applying PR for your spouse or for your child who is unmarried and aged under 21
- SC applying PR for your aged parent
- Employment Pass or S Pass holder applying PR for self
What are the requirements for Singapore Residency?
To apply for PR (permanent residency) through employment, applicants must provide the following documents, in original form and in English:
- Completed application Form 4A
- Passport-sized photo
- Valid passport
- Employment Pass
- Income tax records for previous three years
- Payslips for prior six months in Singapore
- Birth certificate
- Any applicable degrees or diplomas
- Letter from employer stating nature of your work, duration of employment, and good standing in the company
The Global Investor Program (GIP) in Singapore allows expats and their families to obtain permanent residency by either starting a business or investing in an established business in the country. Financial requirements include:
- Invest a minimum of $2.5 million SGD ($1.8 million USD) in a new business or expansion of an existing business in Singapore.
- Invest a minimum of $2.5 SGD ($1.8 million USD) in a Global Investor Program-approved fund.
- Applicants are given 6 months to complete investment from time of permit approval.
- Unmarried dependents and spouses can achieve permanent residency after the applicant’s GIP has been received. Parents of the PR holder can be added to the residency program for an additional investment price of around $220k USD per parent.
How to get Singapore Residency?
Our team at Empire can assist you in your citizenship or Permanent Residence Application in Singapore through the entire process. Please get in touch with us and our team of experts will guide you trough the process of obtaining a Singapore Residency.