Epica Learn Series
What is the Procedure to Get Citizenship in Singapore?
What is the Procedure to Get Citizenship in Singapore?
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How to get Singapore PR Citizenship? Can you apply Singapore PR, while you are overseas?
We get this question quite often asked. People in nearby countries are interested in getting Singapore Citizenship or PR and settle here. Quite often they have heard of schemes in other countries like Canada and Australia and they expect a similar scheme to be available in Singapore.
As a Singapore PR or Citizen, you can settle in the country, work or do business of your choice. The advantages of being a Singapore citizen include the privilege you have to fly around the world, the prospect of purchasing residential properties from the Housing & Development Board, and borrowing at lower interest rates for housing. Moreover, Singapore Citizens pay much less cost for education and healthcare than foreigners.
Having citizenship in Singapore is a long process. You can not directly apply for citizenship. It takes on a certain degree of commitment – the application process for citizenship itself may be frustrating, as it normally takes 12 months. You'll also need a variety of records and documents to be produced.
However only Singapore PR’s can apply for citizenship. However, don't get discouraged, as this article describes the measures taken to become a Singaporean citizen.
Path to Singaporean Citizenship?
While not simple and straightforward, you will be able to obtain citizenship in Singapore reasonably quickly compared to other countries, as there is a possibility that you will be able to apply for permanent residence after just six months before you qualify for full citizenship after another two years. (However please note able to apply does not mean approval is guaranteed). Recently we have seen a significant
time required for PR processing and also citizenship applications.
Path 1
This is a most common path. In this path, a typical skilled person, relocates to Singapore on an Employment Pass for a Job. After staying in Singapore for a 3-6 years, he can apply for Singapore PR. After being as a PR for 2-4 years, the person can apply for Citizenship. The processing time for PR and citizenship depends on myrid factors. But in general this is the process of approx. 5-10 years.
Path 2
In this case, a person can apply for Singapore PR directly under GIP (Global Investor Scheme). If the PR is approved, after about 2-4 years, he can apply for Singapore Citizenship. This as you see is a faster route, however the conditions of GIP program are quite stringent.
In order to be a permanent resident (PR) of Singapore, you must apply to the Immigration & Checkpoints Authority (ICA) for an Entry Permit. You will apply for
What is the Eligibility to become a Singapore Citizen?
In order to become a Singapore citizen, you must:
or
or
or
or
What is the Singapore Global Investor Program?
The Global Investor Program is built for investors interested in starting a company or investing in Singapore and thus gaining Singapore's permanent residence status.
Options for Investment
Under the Global Investor Program, one of the following options can be selected by an investor:
Option A:
Invest a minimum of SGD 2.5 million in a new business entity or expand current business operations.
Option B:
Invest minimum SGD 2.5 million in an authorised fund that invests in Singapore-based companies plus the implementation of the Singapore Business Plan.
Option C (Family Office Option):
Investing SGD 2.5 million, used to set up a single-family office in Singapore, which includes at least SGD 200 million of assets under management (atleast SGD 50 million worth assets in Singapore and SGD 150 million worth in offshore assets).
The Global Investor Program is built for investors interested in starting a company or investing in Singapore and thus gaining Singapore's permanent residence status.
Eligibility criteria for Global Investment Program
An investor is entitled to apply for permanent residency under the Global Investor Program if they have a significant business track record and a good entrepreneurial history. Each Singapore residence category has quite a specific application process and documentary requirements that must be met.
For Established Business Owners
The investor must have at least three years of entrepreneurial and profitable company track record. Investors must own at least 30 per cent of the company's equity (or a total of two companies) and must send audited financial statements of their company for three years prior to submitting their application. The company's revenue should be at least SGD 200 million in the preceding 12 months and minimum SGD 200 million in the preceding three years on average.
Next-Generation Business Owners
The immediate family of investors must own at least 30% of the company's equity (or a total of two companies) and must produce the audited financial statements of their company for the three years before their application. The company's turnover has to be at least SGD 500 million in the previous 12 months and at least SGD 500 million per year on average in the preceding three years. The investor must be a member of the board of directors of the company.
Founders of fast-growing firms
The investor has to be the founder and one of the vital shareholders of the company. The company must be worth at least SGD 500 million.
Family Office Principals
The investor must have at least five years of entrepreneurship, investment or management record and net investment assets of at least SGD 200 million. This type of applicant is limited to the choice of the Family Office (Option C above).
Is Dual Citizenship Permissible in Singapore?
Dual citizenship is not permissible in Singapore – if you choose to become a Singapore citizen, you must give up your foreign citizenship. Visit the concerned embassy or high commission in Singapore with your passport. You will obtain paperwork stating that you have surrendered your citizenship and passport. If you are under the age of 21 and are deemed to be "stateless," i.e. you are not considered to be national by any State under its rule, you do not need to take this step.
Foreigner Package
New Company Setup
S$2,400
Local Package
New Company Setup
S$1,100
Transfer Package
Existing Company
S$1,000
Singapore Branch
New Branch Setup
S$4,000
Representative Office
New Setup
S$2,500
BVI Company
Singapore Bank Account
US$2,200
