Singapore permanent resident scheme
Singapore is world-renown as an international business hub that attracts many foreign workers and investors to conduct business in the island-nation. As the country is an ideal place to live and work, many foreigners have made Singapore home in recent years. As of June 2013, around 530,000 of Singapore’s 5.3 million inhabitants are foreigners with permanent resident (PR) status and another 180000 people are on various employment passes.
Permanent residents are given privileges accorded to Singaporean citizens. They have access to education, are given the right to own properties, and participate in retirement fund plans. They can also enter and leave Singapore without getting a visa every time they do so. Being a permanent resident in Singapore comes with responsibilities as well; foremost of which is the compulsory 2-year military training of 18-year old males.
Acquiring a permanent residence status in Singapore can take different forms depending on your circumstance. Below are the different methods of having permanent residence status.
PR for skilled Individual
The simplest way of getting PR in Singapore is through the Professionals/Technical Personnel and Skilled Worker (PTS) scheme. The primary requirement to qualify under this scheme is an Entrepreneur Pass or Employment Pass. This fulfills the requirement of being physically present and working in the country. Another requirement is an employment record of at least six months. To prove this, an applicant must present a 6-month salary payment slip.
In general if you have worked in Singapore for 3-5 years and are financially sound then you can apply for permanent residency. Application for permanent residency is evaluated and approved by Immigration and checkpoint authority (not Ministry of Manpower). ICA will give weightage to various factors like your current salary in Singapore, your educational background and quantum of your assets in Singapore.
PR for Investors
Global Investor Programme (GIP) is the PR scheme for business owners and investors in Singapore. The business owner and his or her immediate family are qualified under this permanent resident plan. To qualify, an investor or business owner must have a minimum investment of S$2.5 million in any of the two ventures:
- Start-up business or business operation expansion.
- GIP-approved fund
Applicants under this scheme are also required to have a background in entrepreneurship, a proven track record in conducting business, and a sound investment or business plan among others.
PR for Foreign Artists
Singapore, in recent years, has also grown to become known as a regional artistic hub aside from being a business center. As such, it has attracted a good deal of artists involved in various art media like film, literature, theater, music, dance, photography, and fine arts. Recognition as an artist in one’s home country is the primary requirement to qualify under this scheme. An artist preferably must be internationally-renowned or recognized and have relevant training in his or her art field. An active participation in local Singapore art scene is also needed; thus the applicant must have a good deal of experience working as an artist in Singapore. You may also be required to present a solid artistic plan on how you can contribute to the enhancement to the arts and culture of Singapore.
The Singapore opens its doors to foreigners who wish to contribute positively to the country’s growth as a business and artistic center of the world. With its different permanent resident schemes, professionals from other countries are given the privilege of living and working in the country very much like natural-born Singapore citizens.