Singapore Permanent Resident Schemes

The lure of Singapore is by far the most mysterious feeling that many visitors have in the 21st century. Since many years ago, people have flocked in thousands to the sunny island, out in the south china sea and make the place they call a second home. Every year, thousands of foreigners submit their applications to become a Singapore Permanent Resident but only 30% of them get approved. The application may seem the same but the journey or process or schemes used for PR attainment is very much different from person to person. If you are considering going forward in this direction, there are a few options which you can consider – Family application or individual application. This is just the beginning of a long journey towards a stable and diverse future in one of Asia’s most developed countries and fin-tech center. 

Counting the Numbers: 

Total number of Permanent Residents in Singapore – 526,000 out of 5,600,000 people. 

(figures as of June 2017)

It is becoming more and more of a norm for foreigners to apply for Singapore Permanent Resident (SPR) after a few years of plying their trade in Singapore and all of them attain their 
SPR through various means.

Singapore Permanent Resident Rights and Benefits:

1. The right to live within the country without visa regulations.

2. Higher precedence of public schooling for your children.

3. Greater freedom for property purchase.

4. Central Provident Fund (CPF) entitlement.

5. Purchase of second hand HDB.

6. Right to live, work and integrate into Singaporean Society just like citizens.

7. Apply long term visas for parents. 

The Singapore Permanent Resident Schemes can be listed as follows:

Singapore PTS Scheme or The Professionals/Technical Personnel & Skilled Worker scheme for Working Individuals.

This scheme is the easiest for SPR attainment.

Key Requirement: 

1. Work pass holder of S Pass or Employment Pass or Entrepreneur Pass or Personalized Employment Pass.

2. Working in Singapore at the time of application.

3. Minimum of 6 months of working in Singapore.

Singapore Permanent Resident Scheme for Investors.

Apply for SPR through a Investment Scheme called Global Investor Program (GIP scheme). .

This scheme allows you to apply for PR for you and your immediate family members by starting a business or investing into a business that is under government approved business sectors.

Key Requirement

Option A: Invest at least S$2.5 million in a new business startup or expansion of an existing business operation.

Option B: Invest at least S$2.5 million in a GIP-approved fund that invests in Singapore-based companies.

1. Meet the minimum investment requirement of S$2.5 million in one of the investment options (criteria for each option are further detailed below)

2. Possess at least three years of business or entrepreneurial track record

3. Ensure that your existing business meets the following turnover requirements:

4. For companies in other business sectors: A minimum of S$50 million in the most recent year and at least S$50 million per annum on average for the last three years

5. Have at least 30% shareholding in the company if it is privately owned

6. Submit audited financial statements of your company for the last three years

Other critical factors to consider: Profitability, role and position in the company and financial statements will take a part during the consideration. 

Singapore Permanent Resident Scheme for Foreign Artistic Talent.

To transform the local cultural and arts sector into a regional arts hub, Singapore have opened this PR Scheme to attract foreign talents all over the world to come and reside in Singapore and contribute to Singapore and make it a second home. To qualify under this scheme, you must be a well recognized artiste in your own country or preferably with a international reputation and possess relevant training in your field of training. 

Key Requirement:

1. Significant contributions to Singapore arts and cultural scene.

2. Strong track record of local engagements at leadership level.

3. Have concrete plans to be involved in the Singapore arts and cultural sector. 

On your way to Singapore Citizenship

For applicants  who  are at least 2 to 6 years of Singapore PR can apply for Singapore Citizenship.

This is the most important criteria for those aspiring to be a Singapore Citizen and change their roots in Singapore. It will put you on the brink of becoming a full fledged citizen. If you are considering to move towards this direction, below are the eligibility criteria that is for your consideration.

Eligibility:

1. Age of 21 years and 2 to 6 years of being a Singapore PR at the date of application.

2. Spouse of Singapore Citizen with at least 2 years being a Singapore PR and married for at least 2 years.

3. Child who is born outside of Singapore and parent is a Singapore Citizen.

Additional Factors To Take Note:

1. Good track record while being a Permanent Resident.

2. Time frame of staying in Singapore as a Singapore Permanent Resident.

3. Being a asset to Singapore and your potential to produce wealth and become strong financially.

4. Lastly, show your investment into Singapore, financially and socially showing your intention to stay long term in Singapore.