Singapore, which straddles East and West, is Asia’s business capital. Indeed, several, including The Economist, have referred to Singapore as “the country of opportunity,” urging enterprises to migrate there. It boasts one of the lowest crime rates in the world and provides people with an excellent quality of life. When measured by GDP per capita, it is one of the wealthiest countries in the world.
Singapore has continuously ranked first in Mercer’s Quality of Living Assessment, a recognized survey that evaluates the finest worldwide cities with the highest living standards based on personal safety, security, political stability, and long-term economic growth. With its multi-racial and multi-cultural society, it has become a world-class destination. Singapore is a city-state with a diverse range of cultures coexisting peacefully in a well-organized community.
The Singaporean government has worked hard over the last two decades to acquire top talent and extraordinary human capital to help the country’s economy flourish. However, the government has raised the conditions for entering talent and delayed the number of employment passes and permanent residence approvals in recent years.
With an open economy based strongly in commerce, manufacturing, and financial services, Singapore has one of the most successful and highly developed economies in Asia and around the world. Singapore has a greater per capita GDP than other developed countries.
Singapore has one of the most stable political environments in the area among its neighbors. Singapore’s clean and corruption-free image, as well as its transparent and efficient bureaucracy, attracts foreign investment.
With a remarkable literacy rate of over 90% and a rising share of highly educated professionals, Singapore has a competitive and highly qualified workforce. Singapore’s tax policy is well-known around the world. Among other perfect tax advantages, investors and entrepreneurs are continually lured by its attractive tax rates, tax relief measures, no capital gains tax policy, and network of avoidance of Double Tax Agreements (DTAs).
The Singapore Global Investor Program is for rich overseas entrepreneurs and investors who want to make Singapore their home.
Singapore citizenship is available in one form. It is possible to apply for Singaporean citizenship after two years of permanent residence in the country. Dual citizenship is severely prohibited in the country.
The Singapore Global Investor Scheme is an investment-based residency program in Singapore. It grants permanent residency in Singapore to investors with a proven track record in business and a strong entrepreneurial background who plan to expand their firm and invest from Singapore. This program requires a minimum investment of SGD 2,500,000.
Singapore’s pro-foreign investment policy, which fosters free enterprise and places no limitations on foreign ownership, attracts investors. Singapore’s foreign direct investment was S$77630.5 million at the end of 2018. Foreign investors can also choose to migrate to Singapore thanks to the Global Investor Program (GIP) and the EntrePass program.
Finding top talent in Singapore is not a problem because the workforce is highly educated and motivated. Furthermore, relocating your company there is a really simple process. Singapore is an excellent environment for those interested in furthering their education, with 20% of government funding dedicated to education. Singapore’s National University is now ranked 11th in the world in terms of higher education.
The Global Investor Program is for investors who want to create a business or invest in Singapore and get permanent residency there.
One of the following choices is available to the investor:
If an investor has a significant business track record and a strong entrepreneurial experience, they are qualified to apply for permanent residency under the Global Investor Program. Each Singapore residency category has its own application process and set of documentation criteria that must be met.
Applicants can also apply for PR for members of their immediate family (your spouse and children under 21 years of age). It’s important to highlight that all second-generation male PRs must participate in National Service. Applicants can apply for a renewable long-term social visit for their parents and children (over 21 years of age).
The investor will be awarded a five-year re-entry permit (REP) once their permanent residency status has been formalized. When traveling in and out of Singapore, you must have a valid REP.
It allows the investor to keep their permanent resident status when traveling outside of Singapore. The REP can be renewed after the first five years if the investor meets certain restrictions, which are dependent on the option chosen.
At the end of the fifth year, the REP must be renewed depending on business milestones achieved, physical time spent in Singapore, or a combination of these factors.
It is possible to apply for Singaporean citizenship after two years of permanent residency in Singapore. According to the Henley Passport Index, the Singaporean passport is the world’s strongest travel document.
By investing 2.5 million SGD in a start-up business or GIP Fund, obtaining permanent residency in Singapore within 12 months This is also the only Fast-Track Singapore Citizenship by Investment option that allows you to apply for citizenship after just two years of holding your GIP visa.
Individuals can only qualify for GIP if they invest a total of 2.5 million Singapore dollars. Apart from having sufficient funds, you must also demonstrate to authorities that you have entrepreneurial skills by providing them with a strong track record.
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