One of the Singaporean government’s key objectives is to attract skilled talent to the country for long-term residence and employment. The government aims for foreign nationals to settle in Singapore by obtaining permanent resident status.

The Singapore Global Investor Program caters to affluent and experienced foreign entrepreneurs, business owners, and senior managers who seek to establish a business or invest in Singapore with the intention of making it their home. Successful applicants are granted Singaporean permanent residency within nine to twelve months.

Key Advantages of the Singapore Residence by Investment Program

Singapore has become a world-class destination known for its harmonious, multiracial, and multicultural society. With a population of approximately 6 million, English and Mandarin serve as the primary languages spoken. Living in Singapore offers residents political stability, economic prosperity, and access to a high standard of education and healthcare.

The country’s advantages include:

• Political, social, and economic stability
• Safety and a high quality of life
• Exceptional education, healthcare, and transportation systems
• A leading role as an international financial centre
• Advanced business facilities and telecommunications
• A vibrant multicultural environment
• A friendly tax system, with recent policies to benefit foreign investors

Singapore’s taxation operates on a territorial basis, promoting a favourable environment for both residents and international investors.

Key Requirements of the Singapore Residence by Investment Program

Established business owners, next-generation business owners, founders of rapidly scaling tech companies, and principals of family offices with significant entrepreneurial, business, and management expertise may qualify for Singaporean permanent residency by choosing one of the following investment options:

Option A: Invest at least SGD 10 million (inclusive of paid-up capital) in a new or existing Singapore-based business. For re-entry permit renewal after the initial five-year period, the business must employ a minimum of 30 people, with at least half being Singaporean citizens. If the business already existed, 10 of the hires must be new employees.

Option B: Make an investment of SGD 25 million into a fund approved by the Singapore Economic Development Board, specifically one that supports Singapore-based companies.

Option C: Set up a Singapore-based single family office with at least SGD 200 million in assets under management. Of this, at least SGD 50 million must be actively invested and maintained throughout the five-year period in any of the following:

• Companies listed on exchanges licensed by the Monetary Authority of Singapore
• Qualifying debt securities, such as bonds, notes, commercial papers, or certificates of deposit
• Funds managed or registered by Singapore-licensed entities
• Private equity investments in non-listed Singapore-based companies

For re-entry permit renewal under Option C, at least five additional family office professionals must be hired by the end of the five years, with at least three of them being Singaporean citizens.

Process for applying for Singapore Residence by Investment

Applicants seeking residency in Singapore must complete a personal profile and submit a proposed investment plan through an e-application form, along with required hard-copy documentation. An interview is also required post-application submission. If an applicant meets all necessary criteria, the Immigration and Checkpoints Authority of Singapore will issue an approval-in-principle. This approval remains valid for six months, during which applicants must fulfil the required investment for their selected option. Finalizing permanent residency status must occur within one year of receiving the final approval letter.

The investor’s spouse and children (under 21 years old) may apply for permanent residency under the investor’s application, though male dependents will be required to fulfil national service obligations. Parents and unmarried children aged 21 and older are not eligible for permanent residence under this application but may apply for a five-year long-term visit pass instead.

Validity of Re-entry Permits (REP)

Once their permanent residence status is formalized, the investor will receive a five-year re-entry permit (REP). This permit is essential for traveling in and out of Singapore, as it allows the investor to maintain permanent residence status while outside the country.

After the initial five-year period, the REP may be renewed if the investor meets specific conditions tied to their selected investment option. Renewal requirements vary and may include achieving set business milestones, spending a certain amount of time physically in Singapore, or a combination of both.

Acquiring Singaporean Citizenship through the Residence by Investment Program

Singapore offers citizenship on a single-citizenship basis, meaning dual citizenship is not permitted and this rule is strictly enforced. Permanent residents may apply for Singaporean citizenship after two years.

Singapore’s passport is one of the most powerful globally, offering visa-free or visa-on-arrival access to 193 destinations, including the Schengen Area, Canada, China, and the USA. However, due to Singapore’s prohibition of dual citizenship, it may not be suitable for those wishing to retain multiple citizenships and passports.