Permanent residence in Singapore is a highly desirable prospect and one which many entrepreneurs and businessmen choose to apply for after living and working in the city on either EntrePass or Employment Pass. Currently, there are some 530,000 PRs living in Singapore within a population of 5.3 million and its little wonder. As one of the most developed countries in the Asia pacific region and an international commerce hub, there is much to recommend Singapore as a country to live and undertake business in. There are many pathways to permanent residence which can be applied for after several years of working on a visa.
This is an overview of the many PR schemes available to foreigners who would like to permanently settle in Singapore. Permanent residents enjoy most of the privileges that a citizen does including the right to live in the city without visa restrictions, better access to public schooling, the freedom to buy property and participation in the retirement fund scheme. Permanent residency also comes with certain civic responsibilities such as sending your sons to undertake the compulsory two year military service upon turning 18.
The Professionals/Technical Personnel and Skilled Worker Scheme (PTS)
This scheme is for foreign professions who are working in the city when they apply for permanent residence. The PTS scheme is perhaps the easiest way to attain PR. The determining factor in the PTS scheme is whether you are working in Singapore at the time you apply. This means applicants will have to have relocated to Singapore prior to applying and are working on either an EntrePass or an Employment Pass. The longer you work in Singapore on Entrepass or employment pass, the higher chance for PR approval.
Global Investor Program (GIP)
This is an investment scheme for business professionals who have invested a significant amount of money in Singapore. Eligibility requirements include a good business track record, a background as an entrepreneur and a business proposal or investment plan. There are two different investment options which qualify under the GIP:
- An investment of at least S$2.5 million in a new business venture or existing operation
- An investment of at least S$2.5 in a GIP approved fund
Foregin Artistic Talent Scheme
This is a creative professionals scheme for those who are gifted in arts, photography, music, theatre, dance, literature, or film. Eligibility for PR through this scheme focuses on the high profile applicants enjoy in their own country or industry. Professional training is also an important consideration. To qualify, applicants must have made a substantial contribution to the arts and cultural scene in Singapore including a proven track record of community leadership and local engagement. Proof of intention to be involved in the cultural arts sector is also important.
The Singapore government recognises that significant cultural and economic contributions can be made by a diverse range of professions and attempts to facilitate this vast spectrum with its numerous PR schemes.