Getting permanent residency (PR) in Singapore through investment has become an increasingly popular path for many foreign investors and entrepreneurs. The Singapore government offers a few programs that allow high net worth individuals to obtain PR status by starting a business, investing in an existing local company, or through a government-designated fund. The core requirements are focused on the applicant’s business background, investment capital, and expected contributions to Singapore’s economy. Understanding the available programs, eligibility criteria, application process and post-approval requirements will help you develop the optimal PR investment strategy for Singapore.
Global Investor Programme Requires S$2.5 Million Investment
The Global Investor Programme (GIP) offers the most direct path to Singapore PR through investment. Applicants can choose to invest at least S$2.5 million into either starting a new business entity in Singapore, expanding an existing Singapore entity, or investing in a government-approved fund. Successful applicants receive an in-principle approval valid for 6 months, during which they must fulfil the proposed investment commitments before PR is officially granted. The GIP has strict eligibility criteria focused on the investor’s entrepreneurial track record, minimum business revenue and industry sector.
EntrePass for Tech Startup Founders
The EntrePass by the Singapore Economic Development Board allows eligible foreign startup founders to obtain an employment pass for operating their innovative tech business in Singapore. Instead of upfront capital, applicants are assessed based on qualifications like receiving funding from recognized investors, having IP rights, or being part of an accelerator program. Once incorporated, the company needs to meet local hiring requirements. EntrePass holders who show substantial business development may be invited to apply for PR.
Self-Sponsored Employment Pass Through a Local Company
Foreign professionals who hold equity in a Singapore company and meet salary and qualification requirements can self-sponsor an Employment Pass (EP). First, the company needs to be actively operating for at least 6 months. The applicant must hold a role like director or shareholder director while earning a fixed monthly salary of at least S$5,000. meeting the EP criteria and maintaining the business for a few years can strengthen the PR application.
Sponsoring Your Own EP Through a Private Limited Company
Some investors choose to support their Singapore PR application by setting up an investment holding company and sponsoring their own EP. This requires at least S$100,000 paid-up capital, demonstrable business activities like an office lease and local hiring, and a credible business plan. The applicant must hold a senior position and meet EP salary and qualification criteria. Maintaining the company and steadily expanding local operations will increase PR approval odds.
Hiring a PR Consultancy Provides Expert Guidance
The process of securing Singapore PR through investment can be complex for applicants who lack experience with local business practices and immigration policies. Hiring an established PR consultancy provides end-to-end guidance on selecting the optimal program, ensuring eligibility, preparing a compelling application, navigating post-approval requirements, and successfully obtaining PR status for you and your family.
Obtaining permanent residency in Singapore through business investment requires thorough planning and execution. Weighing the available options based on your background, experience, investment capital and family goals is crucial. Partnering with the right PR consultancy can help avoid missteps and fast track your application approval.