How to become a Singapore Permanent Resident?
Singapore is a vibrant and multicultural megapolis that attracts people from all over the world. As they come and witness the life in Lion City, some decide to stay here forever. Of course, there are legal procedures for that. One of them is getting a Permanent Resident (PR) status.
Singapore PR status allows you to:
- Eventually, apply for a citizenship and enjoy the same rights as locally-born Singaporeans;
- Enter and leave the country without applying for visas;
- Change jobs freely without reapplying for work permits;
- Sponsor your immediate family members (spouse and unmarried children under 21) for PR application;
- Apply for long-term visit passes for your parents;
- Enjoy subsidised fees for enrolling your children to governmental preschools and schools;
- Reap the financial and tax benefits provided by the government.
How to obtain a Singapore PR status? (link to this service on ACRABIZ website)
According to the Immigration and Checkpoint Authority (ICA), you are eligible to apply for permanent residence if you are a/an:
- Spouse of a Singapore citizen or Singapore permanent resident;
- Unmarried child aged below 21 born within the context of legal marriage to, or have been legally adopted by, a Singapore citizen or Singapore permanent resident;
- Aged parent of a Singapore citizen;
- Holder of an Employment Pass (EP), Entrepreneur Pass (EntrePass) or S Pass;
- Student studying in Singapore;
- Foreign investor in Singapore.
ACRABIZ can make you closer to obtaining PR with our EP application service or Global Investor Programme support package.
Getting a PR status for EP and EntrePass holders
Permanent Residence application for individuals holding Employment or Entrepreneur Pass is the most commonly used PR scheme.
The question you properly have in your mind is «when can I apply for my Singapore PR after obtaining the work pass»? In theory, you can apply the day you start working in Singapore as a work pass holder. Although, you’d have to attach the six months’ payslip from your local employee. Therefore, to apply, you need to work in the country at least for six months.
Except for the six months’ payslip, you need to provide following documents: your passport, EP cards, birth certificate, educational certificates, testimonials from previous employees, as well as a letter from a current employee, stating the date of employment, the position held, salary per month for the past six months with a breakdown into basic, overtime and allowance per month. If you are married and have children, you are also required to attach all certificates and documents for your spouse and kids. EntrePass holders need to add a valid business registration certificate and occupational license pertaining to your employment.
Multiple factors can affect the outcome of a PR application, such as your education and professional background, the duration of stay in Singapore, financial status, charitable contributions to society, legal record.
After collecting necessary documents and filling the form on the ICA website comes the most nervous part, which is waiting for an outcome. Try to sit back and relax. The result usually arrives within 6 to 12 months.
Getting a PR status through a Global Investment Programme (link to this service on ACRABIZ website)
To attract foreign investors to the island Singapore government introduced the Global Investor Programme (GIP). It allows you to get Singapore PR status through an investment to one of the GIP approved business sectors.
The eligibility criteria for GIP applicants is as follows:
- You must invest a minimum amount of S$2.5 million either directly in a Singapore company, in a GIP fund that invests in Singapore companies or a Singapore-based single-family office having Assets-Under-Management (AUM) of at least S$200 million (Option A, B and C explained below).
- You must possess at least three years of entrepreneurial and business track record;
- You should currently be running a company with an annual turnover of at least S$200 million in the year immediately preceding your application, and at least S$200 million per annum on average for the three years immediately preceding your application;
- If your company is privately-held, you should have at least 30% shareholding in the company;
- Your company must be engaged in one or more of the industries approved under GIP (listed below).
Singapore Economic Development Boards (EDB) defines the following investment options:
Option A: Invest at least S$2.5 million in a new business start-up or expansion of an existing business operation.
You are required to submit a detailed 5-year business or investment plan with projected employment, expenditure and financial projections that will incur in the company. It will be assessed based on its feasibility, your role in growing the company, the business activities and providing workplaces for locals;
Option B: Invest at least S$2.5 million in a GIP-approved fund that invests in Singapore-based companies.
You will be assessed based on future business or investment plans in Singapore. It includes specific details on proposed business activities, amount of investment, creation of local jobs.
Option C: Invest S$2.5 million in a new or existing Singapore-based single-family office having Assets-Under-Management (AUM) of at least S$200 million.
You must submit a detailed 5-year business plan with projected employment and annual financial projections. The business plan will be assessed based on your role in your single-family office, the functions of your family office, your proposed investment sectors, asset types and geographical focus.
GIP approved industries:
- Aerospace Engineering
- Alternative Energy/ Clean Technology
- Consumer Business (e.g. flavours and fragrances, food ingredients, nutrition, home and personal care)
- Engineering Services
- Infocomm Products & Services
- Logistics & Supply Chain Management
- Marine & Offshore Engineering
- Media & Entertainment
- Medical Technology
- Natural Resources (e.g. metals, mining, agri-commodities)
- Safety & Security
- Pharmaceuticals & Biotechnology
- Precision Engineering
- Professional Services, e.g. consulting, design.
- Arts Businesses: visual arts businesses, e.g. auction houses, art logistics/storage and performing arts businesses
- Sports Businesses
- Family Office & Financial Services
It will take approximately 9-12 months for a GIP Application to be processed. After the approval of your investment project, you should formalise PR status within 12 months.
Applying for Singapore PR status is a serious decision in your life which makes you one step closer to obtaining one of the world’s strongest citizenships. It also gives you and your family access to better opportunities and social policy standards.
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