Singapore is perfect in terms of language, culture, economy, or living conditions. There are various immigration policies in the area to attract professionals and overseas people to emigrate, so it has become a popular immigration destination for citizens of many countries in recent years. There are four main ways to immigrate to Singapore, as, skilled immigration, student visa, entrepreneurial immigration, and investment immigration. If you are interested in how much does a Singapore visa cost, can foreigners invest in Singapore, and more, this article will introduce you in detail if you plan to immigrate to Singapore and enjoy the local culture and stable economic environment.
Can foreigners invest in Singapore? Why?
There are many advantages of applying for Singapore investment immigration. It is a green country, has a pleasant environment, is suitable for living. More than 70% of the population is Chinese, but inclusive of Chinese and Western cultures developed bilingual education, lays a good foundation for the children's future. Immigration supervision is a facilitated process, naturalization after 2 years. Passports can be exempted from visas to more than 150 countries around the world, and visa-free travel for business trips, without global taxes. Singapore does not levy taxes on foreign income and does not require declaration. Singapore has the lowest tax rate in the world, no inheritance and inheritance taxes, and is a paradise for the rich.
Singapore Skilled Immigration
Singapore's skilled immigration is mainly for professional and technical talents or those with a university degree or above. If the relevant person is hired by a local company and issued a work visa, they can apply for permanent residency to the Singapore Immigration Department with a valid work visa. There are two main types of work visas in Singapore:
Employment Pass (EP)
- High-tech professionals, management-level personnel, or special workers
- The minimum salary requirement is SGD 3,900 per month
- Bachelor degree or above, professional certificate or special skills
- A monthly salary of SGD 6,000 or above can apply for a family pass for spouse and unmarried children under 21 years old
- A monthly salary of SGD 12,000 or above can apply for a visit pass for parents
- The application fee is SGD 105, and SGD 225 must be paid after obtaining the visa
- Apply on behalf of the employer, not subject to quota restrictions
S Pass (SP)
- Intermediate skilled professionals
- The minimum salary requirement is SGD 2,400 per month
- Diploma, bachelor's degree, or considering taking a technical course of at least one year
- A monthly salary of SGD 6,000 or above can apply for a family pass for spouse and unmarried children under 21 years old
- The application fee is 75 Singapore dollars, and 100 Singapore dollars need to be paid after obtaining the visa
- The employer applies for the application, and the number of S Passes that each company can employ is limited by the quota
Singapore Entrepreneur Immigration (Entre Pass)
Singapore entrepreneurs need to register a company locally and apply as an entrepreneur, innovator or investor. Applicants must be at least 21 years old and hold at least 30% of the company's shares, a new company registered for less than 6 months. However, certain business areas do not meet the qualifications for applying for entrepreneurial immigration, such as coffee shops, Chinese medicine, employment agencies, and Feng Shui. In addition, if the following conditions are met, the applicant can apply for a family certificate for the family member. The total annual business expenditure for spouses and unmarried children under 21 is SGD 100,000 and the investor should hire at least one Singaporean management staff or three full-time Singaporean staff. On the other hand, the total annual business expenditure for parents is SGD 200,000 and the investor should hire at least two Singapore managers or six Singapore full-time employees.
Entrepreneur application requirements
- The company has obtained at least 100,000 Singapore dollars from government investment institutions, venture capitalists, or angel investors approved by the Singapore government; or
- The company complies with the start-up Incubator or Accelerator project approved by the government; or
- Excellent entrepreneurial experience or business network
Innovator application requirements
- The company is cooperating with the Singapore Institute of Science and Technology Research; or
- The company obtains intellectual property rights in an accredited institution; or
- Have excellent technology and knowledge in related industries
Singapore investor visa program conditions
Can foreigners invest in Singapore? Yes, the only requirements are the following:
- There are plans to invest large amounts in Singapore companies in the future; and
- Have experience in establishing a large-scale company or more than 8 years of experience as a senior in a large company;
- Possess a rich investment record
Singapore Investment Immigration (GIP)
Singapore's Global Investor Programme(Singapore investor visa program) allows people from overseas to invest globally to obtain permanent residency. Applicants can apply for permanent residency for their spouse and unmarried children under the age of 21, and apply for a long-term visit pass for their parents. Singapore investor visa, or "Global Investor Program (GIP)", is an immigration visa launched by the Singapore government to attract huge overseas investment and business talents. It is a one-step Singapore permanent resident visa. The selection targets are overseas shareholders who own more than 30% of the shares and business owners with personal assets of more than S$2.5 million. After the application is successful, the applicant does not need to start a business in Singapore but needs to invest in the investment plan designated by the government. But, how to get investor visa, read the next sections.
Singapore investor visa requirements
To apply for Singapore investor visa program, the applicant must meet the following Singapore investor visa requirements: - Have more than three years of successful entrepreneurial experience. Entrepreneurship experience refers to owning more than 30% of the shares of an enterprise, actually participating in the management of the enterprise, and having a certain scale and profitability in the operation of the enterprise. It is necessary supporting documentation to provide the financial audit report of the last 3 years; - The company invested by the applicant belongs to one or more business areas in the GIP Program A Industry List. - The company's turnover in the most recent year exceeded 50 million SGD, and the average turnover in the most recent 3 years exceeded 50 million SGD. Turnover can include the sum of all businesses owned by the applicant. - The applicant's management responsibilities in the company and the company's profitability are also considered. - After the applicant is approved, invest 2.5 million Singapore dollars to invest in the business for 5 years, or purchase a government-designated fund for 5 years. If the applicant chooses to start a new business, he must provide a five-year budget business plan, and the startup business belongs to the list of industries mentioned above. In the next five years, the applicant needs to implement a business plan. The invested company can be a new establishment or a shareholding in an existing company; if you choose to buy a fund, you need to select a financial institution from the list of funds designated by the government.
How much does a Singapore visa cost?
Before applying, you need to pay the application fee, but it may differ depending on your nationality. The cost is through the method of overseas remittance. There are many services that provide applicants with application fee accounts of relevant institutions in Singapore. After the application fee is paid, the payment voucher for the application fee shall be retained. Within one month after payment, download application forms A and B and fill them in completely.
How to apply for Singapore citizenship?
There are three main steps for immigrating and naturalizing Singapore to become a local citizen: - Obtain Singapore long-term residence visa - From long-term residence to permanent residence, holders of work visas can apply in about six months, and the processing time is about 4-6 months - After obtaining permanent residency and meeting the residency requirements, you can apply to become a Singapore citizen. The processing time will take about 6-12 months
Conditions for Naturalization in Singapore
.jpg)
- 21 years old or above and hold Singapore permanent residency for at least two years - Married to a Singapore citizen for two years or more and hold Singapore permanent residency for at least two years - 21-year-old unmarried children born or legally adopted by Singapore citizens - International students who hold Singapore's permanent residency, have lived there for three years and passed a Singapore national examination - Elderly parents of Singapore citizens and hold permanent residency how much does a Singapore visa cost? Singapore citizenship applications usually take six to twelve months to process. Adults and children holding Singapore permanent residency and the costs involved are as follows: - Application fee S$100 - Citizenship certificate S$70 - Singapore Identity Card S$10
