Singapore Citizenship by Investment and Residency

Singapore Citizenship by Investment

Unfortunately there is no direct citizenship by investment programme in Singapore. However it is possible to ultimately gain citizenship through residency and several residency investment routes are available.

Singapore Global Investor Program

The Global Investor Program (GIP) of Singapore is aimed at HNW individuals wishing to invest in a business or one of the GIP approved funds.

Singapore has emerged as a world class destination with a harmonious multiracial and multicultural community. The country is politically stable and economically prosperous, with a reputable education system and highly reliable healthcare system. Singapore has a friendly tax regime and over recent years has continued to introduce tax regulations favouring foreign investors.

Permanent Residence

The procedure to gain permanent residence under the global investor program (GIP) takes a considerable length of time. The applicant must submit a personal profile via an e-application form (with hard copies also compiled and sent) , and is then required to attend an interview , usually within two to four months of submission of the application. If all the criteria are met, an approval in principle is issued and is valid for a six month period, during which the application must make the requisite investment under the chosen investment option and submit documentary proof of such.

Investment Options

The GIP offers two investment options:

• Option A- an investment of at least SGD 2.5 million in a new business entity or expansion of an existing business operation.
• Options B- an investment for SGD 2.5 million in one of the GIP-approved funds.

Once a final approval letter is issued, the applicant is requires to formalise his or her permanent residence status within 12 months of the date of the letter, all of which makes for a lengthy process.

Citizenship

After two years of permanent residence is Singapore, it is possible to apply for citizenship; however, Singapore is a strictly single-citizenship country and each applicant must relinquish all existing citizenship before naturalisation is possible. Also, all male Singapore citizens and permanent resident are obliged to participate  in the countries compulsory two year national service.