Singapore

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Singapore

Singapore is a city state and island country, comprised of 63 islands. It is located in the Indian Ocean between Malaysia and Indonesia, and its port has for centuries been one of the world’s busiest and most successful centres of trade. Today, it is a magnet for businesspersons, and, according to The Global Financial Centres Index 2015, the world’s fourth best financial centre. Singapore is also ranked ninth in the United Nations’ Human Development Report 2014, placing it in the top half of the ‘Very High Human Development’ group, and it is ranked seventh in the Transparency International’s Corruption Perceptions Index 2014, indicating the significant trust that Singaporeans place in representatives of their public sector.

Singapore came under British rule in the early 19th century, but obtained independence from the United Kingdom in 1963. It remains a member of the Commonwealth of Nations, its parliament follows the Westminster system, and operates on a common law system.

Singapore’s outstanding reputation as one of the world’s leading economies is coupled with a world-renown education system, with QS World University Rankings 2014/15 ranking the National University of Singapore (NUS) 22nd in the world, and today’s the most efficient healthcare system.

Singapore was one of the founding members of the Association of South East Asian Nations (ASEAN), and has been a major driving force in the integration of Southeast Asia. The country also enjoys strong ties with the United States and with China.

The Global Investor Programme

Singapore’s Global Investor Programme (GIP) affords successful businesspeople and entrepreneurs the opportunity to invest in Singapore and gain permanent residence. An investor’s spouse and children under the age of 21 may also be granted permanent residence.

Benefits

Residents of Singapore can take advantage of numerous benefits, including:

  • Life in a prosperous centre of finance, with numerous international banks, companies, and other lucrative business opportunities

  • Access to excellent infrastructure, including excellent flight connections to all of the world’s major hubs

  • The certainty of living surrounded by a multicultural, tolerant, and open society functioning under the rule of law and a stable political system

  • The ability to attend or have your children attend some of the world’s best educational institutions

  • An exceptional healthcare system

  • Favourable taxation schemes

  • The option to keep one’s family together, as unmarried children over the age of 21 and parents may obtain a 5-year Long Term Visit Pass

Visa-Free Travel

Citizens of Singapore can benefit from visa-free travel to about 170 countries and territories, listed below. Please note however that visa-free travel to the listed countries is subject to change. We strongly recommend contacting the relevant Government authorities and agencies before travelling.

Application Process

At CS Global Partners we understand that applying for an alternative citizenship can be a complex and daunting process. This is why we make the application process as easy for our clients as possible.

We offer the following standard services:

  • A dedicated relationship manager as your single point of contact throughout your application.
  • Professional guidance on the application procedure and support throughout the process.
  • Documentation preparation and validation.
  • Representation on your behalf before the Government.
  • Management and resolution of any legal queries related to the application.
  • Additional services available on request for clients wishing to utilise our partner network to support their application, including the following:
    • Concierge services
    • Property investment and advice
    • Notary Public services
    • Relocation assistance
    • Translation services
    • Tax planning
    • Medical services
    • Trust planning
    • Banking services
    • Fiduciary services

Investment Options

The investment may be made in one of two ways:

  1. Investment of SGD 2.5 million (approximately USD 2 million) to establish a new business entity or to expand an existing business, in a permitted industry.
  2. Investment of SGD 2.5 million (approximately USD 2 million) in an approved GIP fund which invests in Singapore-based companies.

Eligibility

Applicants are eligible to apply for PR under the GIP if they have:

(a) A substantial business track record; and

(b) A successful entrepreneurial background.

Family involvement

An investor’s spouse and children under the age of 21 may be granted permanent residence under the investor’s GIP application. Other family members, including parents and children over the age of 21, may be granted a Long Term Visit Pass for the 5 years of the GIP and connected to the investor’s Re-Entry Permit.

Other detailed requirements under the GIP

As well as the financial investment, an investor must meet the following criteria:

  • A substantial business track record and a successful entrepreneurial background, of at least three years
  • Provision of audited financial statements of their company
  • If the company is in real estate or construction, the statements must show a turnover of at least SGD 200 million per annum over the last three years and SGD 200 million in the past year
  • If the company is in any other industry, the statements must show a turnover of at least SGD 50 million per annum on average over the last three years, and SGD 50 million in the past year
  • If the company is privately owned, the investor should have at least a 30% shareholding. Their position and the growth and profitability of the company will also be considered.

Under Option A, an investor must also submit a detailed 3-year business or investment plan, showing financial and employment projections.

Re-entry permit

On the approval of a GIP application, the investor will be issued with a re-entry permit, which allows them to travel in and out of Singapore without affecting their permanent residence status. The re-entry permit will initially be granted for five years, and will be renewable as follows:

Investment conditions under Option A or B have been fulfilled; and

  • The investor has set up a business in Singapore with 5 or more Singaporean employees and have incurred at least SGD 1 million in total business spending in a year; or
  • The investor or at least one dependent who also has permanent residence status has resided in Singapore for more than half of the 3 years.

Investment conditions under Option A or B have been fulfilled; and

  • The investor has set up a business in Singapore with 5 or more Singaporean employees and have incurred at least SGD 1 million in total business spending in a year; AND
  • The investor and their dependents who also have permanent residence status resided in Singapore for more than half of the initial 5 years