Singapore has become an increasingly popular destination for individuals seeking permanent residency, offering a range of schemes tailored to different profiles. This overview aims to shed light on the various avenues available for obtaining Singapore Permanent Residency (PR) and the associated benefits and responsibilities.
The Appeal of Singapore Permanent Residency
The allure of Singapore's stability, development, and status as a key financial hub has attracted thousands of foreigners from diverse backgrounds to call it home. The PR application process allows families, including the applicant, spouse, and unmarried children under 21, to apply collectively.
As a Singapore PR, individuals gain access to numerous benefits and rights akin to citizens, including visa-free living, priority in public schooling, property ownership, and participation in retirement funds. However, certain commitments, such as compulsory military service for sons at 18, are expected.
Types of PR Schemes in Singapore
- Singapore PR Scheme for Professionals and Workers
The Professionals/Technical Personnel & Skilled Worker scheme (PTS scheme) is designed for foreign professionals currently employed in Singapore. This route is considered the most straightforward path to PR and mandates that applicants be working in Singapore at the time of application. Initial relocation is typically on a work visa like Employment Pass or Entrepreneur Pass, Personalised Employment Pass, or S Pass.
- Singapore PR Scheme for Investors
The Global Investor Programme (GIP scheme) offers an alternative route for obtaining PR through investment. Applicants can secure PR for themselves and immediate family members by either starting a business with a minimum investment of SGD2.5 million or investing a similar sum in an existing Singaporean business. The GIP scheme presents two investment options:
- Option A: Invest at least S$2.5 million in a new business startup or expansion of an existing business operation.
- Option B: Invest at least S$2.5 million in a GIP-approved fund.
- Singapore PR Scheme for Foreign Artistic Talent
Singapore's burgeoning arts scene provides an avenue for foreign artistic talents to attain PR. The Foreign Artistic Talent scheme welcomes individuals excelling in arts, photography, dance, music, theatre, literature, or film. Eligibility criteria include international recognition, relevant training, significant contributions to Singapore's arts, and concrete plans for future involvement in the local cultural sector.
Moving to Singapore Citizenship
For those aiming for Singapore citizenship, eligibility arises at the age of 21 and having been a Singapore PR for at least 2 to 6 years before applying. The transition to citizenship involves a separate set of criteria, and interested individuals are encouraged to refer to official guidelines for detailed information.
Conclusion
The Singapore government actively encourages the influx of professionals and individuals making positive contributions to the country's development.
With various permanent residency schemes, prospective residents can choose the path most aligned with their circumstances, fostering a diverse and thriving community in this dynamic global hub.