Singapore Permanent Residence (PR) Schemes
Singapore, with its clean and green environment, low crime rate, high standard of living, political stability and perpetual growth opportunities has lured many foreigners to seek Permanent Residence (PR) status in the city state. There are various schemes which a foreigner may successfully qualify for a PR status in Singapore.
A PR status opens many doors in Singapore. Apart from the privilege to freely move in and out of Singapore and the freedom to switch employers, you can also invest freely, secure admission into subsidized government educational institution, as well as gain financial benefits through employer’s contributions to your pension funds. The following is an overview of the Singapore PR schemes and PR application factors:
Foreign Artistic Talent Scheme
The Foreign Artistic Talent Scheme is an initiative launched by the National Arts Council (NAC) and Immigration and Checkpoints Authority of Singapore (ICA) to attract foreign artists with exceptional talents to immigrate to Singapore. These artists should have had formal training and a well-established reputation for their craft. These crafts include Performing Arts, Visual Arts, Literary Arts, Design and/or Media.
- Received formal/relevant training in the field of specialty
- Substantial experience in the field of specialty
- Established reputation both at home and abroad
Professionals, Technical Personnel & Skilled Workers Scheme
Singapore has an open immigration policy that welcomes professionals with excellent skills and experiences from all over the world. There are various options for foreign professionals to live and work in Singapore.
The most common avenue to gain permanent residence in Singapore is through the Professional, Technical Personnel and Skilled Worker scheme (PTS Scheme). The scheme enables foreign professionals working in Singapore under an Employment Pass (EP), Entrepreneur Pass (EntrePass), Skilled Worker Pass or S Pass to apply for permanent residence.
Under the PTS scheme, an applicant’s spouse and children who are under 21 years old may apply for permanent residence, too.
There are factors to consider when applying for Singapore permanent residence status:
- Age, preferably less than 50 years old
- Current professional vocation and employment history
- Current employer and its credentials
- Education background and qualifications
- Salary and financial background
- Family ties in Singapore
- Personal interests and pursuits
Documents required for application and submission of PR application:
- Original passport
- Original employment pass
- Original educational certificate
- Original birth certificate
- Income tax (notice of assessment)
- 6 months salary pay slips
- Original marriage certificate (if any)
- 2 colour, passport-size photographs
- Complete and signed application Form 4A from ICA
Any documents that are not in English must be translated into English by an official translation service.
Investment Programmes for Permanent Residence
There are currently two investment schemes available to help foreign investors immigrate to Singapore. Foreign investors may obtain permanent residence status for their spouses and unmarried children under 21 years of age through the Global Investor Program or Financial Investor Scheme.
Global Investor Programme (GIP) is administered by Singapore Economic Development Board (SEDB). Prospective investors and entrepreneurs may apply for Singapore Permanent Residence (PR) under the Global Investor Programme.
This scheme offers 2 options:
Option A: Invest at least S$2.5 million in a new business entity or expansion of an existing business operation in approved business sectors.
Option B: Invest at least S$2.5 million in a GIP-approved fund that invests in Singapore-based companies.
- Proof of a minimum of 3-years of entrepreneurial and business track record. Audited financial statements of your company for the last 3 years are also required.
- For option A, you must also produce 5-year business proposal or investment plan, along with employment and annual financial projection.
- Real estate or construction-related companies: Most recent annual turnover must be at least S$200 million, and an average of S$200 million annually for the last 3 years;
- Other sectors: Most recent annual turnover must be at least S$50 million, and an average of S$50 million annually for the last 3 years. One may submit financial statements of the company with the highest turnover or consolidate the financial statements of various businesses to meet the minimum turnover criteria.
- Privately-owned companies: Have minimum 30% shareholding in the company. Must also demonstrate role in the company, as well as the growth and profitability of your company or companies.