Facts About Country
Singapore is considered one of the world’s best places to live, and is frequently voted best Asian city due to its excellent infrastructure and public services. It is also one of the wealthiest countries in the world if measured by GDP per capita.
Singapore has excellent infrastructure and state-of-the-art telecommunication, business and financial facilities. The country has grown into an international financial centre, evidenced by the presence of many international banks and the volume of financial transactions which take place in this thriving city. Singapore is an exception to other large cities by virtue of the fact that it has one of the lowest crime rates in the world, where even littering is punishable by law.
Advantages of Citizenship
-The spouse of the investor and his/her children (below 21 years old) are eligible to apply for PR under the GIP application. Male dependents will be liable for National Service.
-Parents and unmarried children of the investor who are 21 years old and above are not eligible to be included in the GIP application for PR status, but instead, they can apply for a five year Long Term Visit Pass.
-An investor is eligible to apply for PR under the GIP if he/she has a substantial business track record and a successful entrepreneurial background.
-The investor must possess at least three years of entrepreneurial and business track record and must produce audited financial statements of his/her company for the last three years. The investor’s company’s turnover must be at least SGD 50 million in the most recent year and at least SGD 50 million per annum on average for the last three years.
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National Transformation Fund (NTF):
The Global Investor Program (GIP) has been designed for investors who are interested in starting up a business or investing in Singapore and thereby receiving Singapore Permanent Residence (PR) status.
Under the GIP, the investor can choose one of the following options:
Invest at least SGD 2.5 million in a new business entity or to expand an existing business operation.
Invest at least SGD 2.5 million in a GIP-approved fund that invests in Singapore-based companies.
-Upon the formalisation of the PR status, the investor will be issued a Re-Entry Permit (REP) for five years. A valid REP is necessary whenever you wish to travel in and out of Singapore. It enables a person to retain the PR status while away from Singapore.
-After 5 years, the REP would be renewed for 3 or 5 years, depending on certain conditions including: the set-up of a business in Singapore with five or more Singaporean employees and incurring at least SGD 1 million in total business spending a year.
-The investor and/or his/her dependents, who are also a PR under the GIP, must have resided in Singapore for more than half of the time.