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Singapore Residence by Investment | Henley & Partners

2023.12.13 13:42



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Residence and Citizenship by Investment Countries Residence Singapore Residence by Investment Singapore

Singapore is frequently voted the best Asian city in which to live due to its excellent infrastructure and public services. It has one of the lowest crime rates in the world and offers a high quality of life to its residents. Globally, it is rated one of the wealthiest countries when measured by GDP per capita.

About Singapore Residence by Investment About Singapore Residence by Investment

Residence by Investment

Foreign nationals may apply for permanent residence status through the Singapore Global Investor Program. The program is aimed at entrepreneurs or investors who are interested in making substantial financial investments in Singapore and is designed to attract wealthy foreign nationals who wish to make Singapore their home.

Enquiry Factsheet

Investment

Minimum investment of SGD 10 million

Processing time

Nine–twelve months

Key benefit

Eligibility for citizenship after two years of permanent residence

The Singapore Global Investor Program

It is one of the Singaporean government’s objectives to attract talent to the country for residence and work. The government’s intention is for foreign nationals to make Singapore their home by becoming permanent residents.

The Singapore Global Investor Program has been designed for wealthy and experienced foreign entrepreneurs, business owners, and managers who are interested in starting a business or investing in Singapore and who wish to make the country their home. Successful applicants receive Singaporean permanent residence status within nine to twelve months.

Benefits of Singaporean residence by investment

Political, social, and economic stability Safety, with a high standard of living World-class education, healthcare, and transport systems Leading international financial center State-of-the-art business facilities and telecommunications Multicultural environment Favorable tax laws

Singapore has emerged as a world-class destination with a harmonious multiracial and multicultural community. It has a population of 6 million people, with English and Mandarin as the main languages spoken. Living in Singapore means that residents benefit from the country’s political stability and economic prosperity. Singapore also has a reputable education system and a reliable healthcare system.

The country has a friendly tax regime and has continued to introduce tax regulations that favor foreign investors. Singapore’s taxation system operates on a territorial basis.

Requirements of the Singapore Global Investor Program

Established business owners, next-generation business owners, founders of fast-growing tech companies, and family office principals with substantial entrepreneurial, business, and management experience may select one of the following investment options to acquire Singaporean permanent residence.

Option A:

Demonstrate an investment of SGD 10 million (including paid-up capital) into a new or existing business in Singapore, and hire at least 30 employees to be eligible for the re-entry permit renewal after the initial five-year period. At least half the employees must be Singaporean citizens and 10 must be new hires if the business was already in existence.

Option B:

Invest SGD 25 million into a fund approved by the Singapore Economic Development Board that invests in Singapore-based companies.

Option C:

Establish a Singapore-based single family office with assets under management of at least SGD 200 million. At least SGD 50 million of the assets must be deployed and maintained throughout the five-year residence period in any one of the following investment categories:

Companies listed on exchanges licensed by the Monetary Authority of Singapore Qualifying debt securities such as bonds, notes, commercial papers, and certificates of deposit Funds distributed by Singapore-licensed or -registered managers Private equity injections into non-listed Singapore-based businesses

To qualify for the re-entry permit renewal under Option C, hire at least five incremental family office professionals by the end of the five-year period. At least three employees must be Singaporean citizens.

Procedures and time frame of Singaporean residence by investment

The procedure to gain permanent residence under the Singapore Global Investor Program takes nine to twelve months. Applicants who wish to live in Singapore must submit a personal profile and a proposed investment plan using an e-application form with supporting documentation in hard copy. They are required to attend an interview after submitting the application. If an applicant meets all the criteria, the Immigration and Checkpoints Authority of Singapore will issue an approval in principle. This approval is valid for six months during which applicants must make the requisite investment under the chosen investment option. Successful applicants must formalize their permanent residence status within one year of receiving their final approval letter.

The spouse of the investor and their children (under 21 years old) are eligible to apply for permanent residence under the investor’s application. Male dependents will be liable for national service.

Parents and unmarried children of the investor who are 21 years old and above are not eligible to be included in the application for permanent residence status, but they may instead apply for a five-year long-term visit pass.

Re-entry permit validity

Upon the formalization of their permanent residence status, the investor will be issued with a re-entry permit (REP) for five years. A valid REP is necessary whenever you wish to travel in and out of Singapore. It enables the investor to retain their permanent residence status while away from Singapore.

After the first five years, the REP can be renewed if the investor fulfills certain conditions that are subject to the chosen option. There are different renewal requirements for the REP at the end of the fifth year, based on business milestones being met, physical time spent in Singapore, or a combination of these.

Acquiring Singaporean citizenship

Singaporean citizenship is offered on a single citizenship basis. After two years of permanent residence in Singapore, it is possible to apply for Singaporean citizenship.

The Singaporean passport is the strongest travel document in the world, according to the Henley Passport Index . It provides the holder with visa-free or visa-on-arrival access to 193 destinations, including Europe's Schengen Area, Canada, China, and the USA.

The country does not allow dual citizenship, and this rule is strictly enforced. For this reason, Singapore is not the ideal option for individuals who are interested in holding more than one citizenship and passport.

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Should you have any questions, or if you would like a detailed breakdown of the exact costs for your family, kindly contact us and we will be delighted to help you.

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