AsiaBiz Services

Singapore, with its clean and green environment, low crime rate, high standard of living, political stability and perpetual growth opportunities has lured many foreigners to seek Permanent Residence (PR) status in the city state. There are various schemes which a foreigner may successfully qualify for a PR status in Singapore.

A PR status opens many doors in Singapore, apart from the privilege to freely move in and out of Singapore and the freedom to switch employers; you can invest freely, secure admission into subsidized government educational institution and gain financial benefits in the form of employer’s contributions to your pension funds. The following is an overview of the PR schemes

Foreign Artistic Talent Scheme

The Foreign Artistic Talent Scheme is an initiative launched by the National Arts Council and Immigration and Checkpoints Authority of Singapore to attract foreign artists with exceptional talents to immigrate to Singapore. These artists should have had formal training and a well established reputation for their crafts. These crafts include fine art, photography, dance music, theatre, literature and film.

Eligibility

• Received formal training in the field of specialty
• Substantial experience in the field of specialty
• Established reputation both at home and abroad

Professionals, Technical Personnel & Skilled Workers Scheme

Singapore has an open immigration policy that welcomes professionals with excellent skills and experiences from all over the world. There are various options for foreign professionals to live and work in Singapore.

The most common avenue to gain permanent residence in Singapore is through the Professional, Technical Personnel and Skilled Worker scheme (PTS Scheme). The scheme enables foreign professionals working in Singapore under an Employment Pass, Entrepreneur Pass or EntrePass and Skilled Worker Pass or S Pass to apply for permanent residence.

Eligibility

Under the PTS scheme, an applicant’s spouse and children who are under 21 years old may be allow to apply for permanent residence too.

There are factors to consider when applying for permanent residence status:

• Age, preferably less than 50 years old
• Current professional vocation and employment history
• Current employer and its credentials
• Education background and qualification
• Salary and financial background
• Family ties in Singapore
• Personal interests and pursuits

Documents required for application and submission of PR application:

• Original passport
• Original employment pass
• Original educational certificate
• Original birth certificate
• Income tax (notice of assessment)
• 6 months salary pay slips
• Original marriage certificate (if any)
• 2 colour, passport-size photographs
• Complete and signed application Form 4A from ICA

Any documents that are not in English must be translated into English by an official translation service.

Investment Programmes for Permanent Residence

There are currently two investment schemes available to help foreign investors to immigrate to Singapore. Foreign investors may obtain permanent residence status for their spouses and unmarried children under 21 years of age through the Global Investor Program or Financial Investor Scheme.

Global Investor Programme is administered by Singapore Economic Development Board (SEDB). Prospective investors and entrepreneurs may apply for Singapore Permanent Residence (PR) under the Global Investor Programme which has three options as follows

• Invest at least S$1 million in a new business start-up or expansion of an existing business operation
• Invest at least S$1.5 million in a approved Singapore-incorporated venture capital fund or Singapore-incorporated foundation or trust that focuses on economic development (list of company will be provided by EDB)
• Invest at least S$2 million in a property and approved Singapore-incorporated venture capital fund or Singapore-incorporated foundation or trust that focuses on economic development (list of company will be provided by EDB). Residential property can be purchased with not more than 50% of the investment amount.
  • A substantial business track record
  • An entrepreneurial background
  • A business proposal or investment plan (for S$1 million investment in a new business start-up or expansion of an existing operation)
  • Tertiary academic qualifications, especially those of prestigious academic institutions
  • In a high-demand profession and substantial professional experience and/or outstanding merits
  • Currently not working in Singapore
  • 45 years old or younger
  • A copy of your Curriculum Vitae (CV) / Resume
  • Copies of your educational certificates and transcripts

Supporting eligibility criteria includes

Financial Investor Scheme

The Financial Investor Scheme (FIS) is collaboration between Monetary Authority of Singapore (MAS) and Immigration and Checkpoints Authority (ICA) of Singapore. It is a program for foreign individuals and entrepreneurs who have minimum Net Personal Assets (NPA) of S$20 million, and who are keen to invest and establish permanent residency in Singapore. Spouses and children of these investors are also eligible for Singapore permanent residence. There are two options:

Option A: Minimum investment of at least S$5 million of assets with a financial institution regulated by the Monetary Authority of Singapore.

Option B: Minimum investment of at least S$5 million of assets with a financial institution regulated by the Monetary Authority of Singapore. The minimum sum shall comprise financial assets3 of not less than S$3 million and one Sentosa Cove Bungalow (comprising either land only or land and building).

Landed Permanent Residence

The Landed Permanent Residence (LPR) scheme allows foreigners outside of Singapore with exceptional qualification and/or professional work experience to apply for Singapore permanent residence.

A successful applicant will be given an in-principal approval letter by Immigration and Checkpoints Authority of Singapore (ICA) to establish residency in Singapore. There is a one-year grace period from the date of approval for the applicant to relocate to Singapore and to find employment. Singapore permanent residence status will usually be granted once residency has been established in Singapore.

There are factors to consider when applying for LPR:

If you are interested in permanent residence in Singapore through Singapore Landed Permanent Residence (LPR) Scheme, email us sales@asiabizservices.com for an evaluation:

LPR Preliminary Assessment Service

The Processing Fee charged by the government for LPR is quite high. Therefore it is important to assess the probable outcome of the application beforehand. We offer a preliminary assessment service, to give you a better insight about the potential outcome of your application. We charge a nominal fee of S$500 for the service.

Based on the assessment, if you decide to go forward with the application process, we charge US2500.00 for the LPR Application Filing Service. Under the filing service we take care of the documentation work and guide you through the paper work, submit the application and closely follow the progress.