Inside This Article:
The vibrant city of Singapore boasts many benefits for its inhabitants – whether it is its world-class infrastructure, facilities, and more, it has made foreigners hailing from all parts of the world want to call it home.
In this blog, we take a look at how they can do so by delving into the various routes that they can consider in obtaining permanent residency.
What Are the Options for Singapore PR Application?
Foreigners can become Singapore permanent residents (PRs) and enjoy the benefits that come with being one, such as stability, attractive job opportunities, and infrastructure.
Foreigners must apply for an Entry Permit with the Immigration & Checkpoints Authority (ICA) to become a PR.
There are several pathways for different groups of individuals to do so in Singapore. They are:
- The Global Investor Programme (GIP)
- The Professionals, Technical Personnel, and Skilled Workers (PTS) Scheme
- The ForArts Scheme
We take a closer look at the schemes below:
Pathway for Investors: The GIP Scheme
The Global Investor Programme (GIP) in Singapore aims to attract high-net-worth individuals, entrepreneurs, business owners, and investors worldwide to invest and contribute to Singapore’s economy.
Specifically, it targets:
- Established business owners
- Next-generation business owners
- Founders of fast-growth firms
- Family office principals
The GIP offers a pathway for eligible applicants to obtain Singapore Permanent Residence (PR). Under the programme, individuals must make a substantial investment in specific types of companies, funds, or schemes in Singapore.
Successful applicants and their families can gain Singapore PR status by participating in the GIP and making the necessary investments. It also offers the potential for long-term residency and eventual citizenship.
Assessment Conditions for Investment
Those who meet the qualifying criteria must also choose one of these 3 investment options. Note that family office principals can only opt for Option C.
| Option | Option A | Option B | Option C |
|---|---|---|---|
| Main Criteria | Invest at least S$10 million in a new business entity or in expanding an existing business in Singapore | Invest S$25 million in a GIP-select fund investing in Singapore businesses |
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| Other Conditions |
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Pathway for EP/S Pass Holders: The PTS Scheme
The Professionals, Technical Personnel, and Skilled Workers (PTS) scheme is designed for Employment Pass (EP) and S Pass holders to get permanent residency in Singapore.
This scheme recognises individuals who have significantly contributed to its economy and society and assesses them based on the likelihood of their contributions over the long term.
Several factors will affect a PTS application’s success rate, such as:
- Educational qualifications
- Contributions to society
- Financial background
- Employment history
Pathway for Artistic Professionals: The ForArts Scheme
Introduced in 1991, the Foreign Artistic Talent Scheme (ForArts) aims to help outstanding global arts experts become Singapore permanent residents.
It is strategically designed to facilitate the growth of international artists, enabling them to advance their artistic careers while simultaneously making meaningful contributions to Singapore’s vibrant arts and cultural scene.
By embracing this scheme, foreign talents can leverage their expertise and unique artistic perspectives to enrich and promote the cultural landscape in Singapore, fostering a thriving and diverse artistic community.
Eligibility Conditions
Applicants must meet all of these conditions to be considered for the scheme:
- Have relevant training or education in the specific field of practice
- Have relevant professional experience and exceptional achievements in Performing Arts, Visual Arts, Literary Arts, Design and/or Media
- Have contributed significantly to Singapore’s arts and cultural scene, with a robust history of local participation in leadership roles
- Have solid future plans to take part in Singapore’s arts and cultural industry
Get Singapore Permanent Residency With InCorp
As Singapore has tightened the process for Singapore permanent residency, it may be more difficult for applicants to get a favourable result. Hence, you may wish to look at a PR specialist such as InCorp to assist you.
Speak to our dedicated advisors now and find out how we can guide you throughout the application!
FAQs
What documents are needed for a Singapore PR application?
- Applicants need to produce documents such as: • Passport • Birth certificate • National identity card • Digital passport photograph
How long does it take to get a permanent residency status in Singapore?
- In general, the processing time for a Singapore PR application is 6 months. Some applications may take a longer processing time.
Can I keep my PR status if I travel out of Singapore?
- Yes, you may obtain a valid Re-Entry Permit (REP) that ensure that you maintain your SPR status even if you are overseas. If you are outside of Singapore without an REP, you will lose your permanent residency status.
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