Eligibility For Singapore Permanent Residency

People can be eligible for permanent resident in Singapore under different schemes provided by Singapore government. People who want to invest in Singapore can apply under the GIP (Global investors program) this is a program brought about by Singapore Economic Development has been designed to make it easier for people who would like to invest in Singapore. Many people want to invest in Singapore because it is the second best country in wealth management apart from Switzerland. It also protects its investors more than other countries according to the report of World Bank for 2009 to 2010. The country protects his investors by providing confidentiality and security.

If the investor has applied under this scheme, he will be able to invest in media, biomedical science, technology, and engineering and information communication. If you want to apply under this scheme, you should be able to provide the record of other investments you have made in other countries.

To get the eligibility for Singapore permanent residency under this scheme you have to have a minimum amount of money to prove that you are capable of investing in Singapore. You have to give the plan of your investment on how you want to invest and how you will manage your investment before being approved.

The plan has to be presented to Economic Development Board of Singapore, if they approve your investment plan, then you become eligible to apply for permanent resident in Singapore. If you are outside of Singapore to be able to have eligibility for Singapore permanent residency, you have to enter in Singapore prior of applying.

If your eligibility for Singapore permanent residency is approved by SEDB and ICA, you will be asked to take the letter for approval with your permanent residency application. You have also to take a medical report, an entry pass, your passport and a photograph when you go to apply for the permanent residency. People choose to invest in Singapore because it has it is a safe country with good standard of living, good education and a sound healthcare system. It has also a political and a financial stability in addition of being in strategic position for the people who want to be moving outside and inside of Asia.

If you want to apply under this scheme you have to provide the sum of $ 20 million to prove that you are capable of making a sound investment in Singapore. You have also to provide at least $ 10 million to be managed by a Singapore financial provider for 5 years. When you place the money under this scheme, you will only be allowed to withdraw the dividend or interest without withdrawing the capital. If you meet eligibility for Singapore permanent residency you can also include your children and spouse in your application. However if you include any child who has more than 21 years, you will have to add $5 million for him. If you would like also to add a parent then you have to add $2.5 for each parent.

Mindy Yong 杨雯诗

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