Singapore is one of the world’s top nations and is designated Asia’s business capital. The “Lion City” is regarded as Asia’s best place to live and work. The nation offers top-notch healthcare, a low crime rate, well-established educational institutions, first-grade infrastructure, high-quality housing, excellent business prospects, and a wide variety of career opportunities.
Singapore offers different PR schemes that people from all over the world can avail of and apply for a PR. Being a permanent resident of Singapore has several advantages, such as:
- being able to travel in and out of the country without the hassle of obtaining a separate visa;
- being able to change jobs without having to reapply for a Singapore work permit;
- being able to take advantage of the country’s flexible pension system;
- enjoying a higher priority for borrowing various loans, such as housing loans to buy property; and
- having access to high-quality healthcare in both government and private facilities.
Singapore Currently Offers Three Different PR schemes
The Professionals/Technical Personnel & Skilled Worker scheme (PTS scheme)
This programme is primarily intended for foreign workers in Singapore. It accounts for 95% of total PR applications and is the fastest and most reliable way to get a PR status in Singapore. Keep in mind that Singapore values qualified individuals, so having experience in a specialised field or possessing degrees from esteemed schools favours the applicant greatly. Possessing a skill set that complements those of the local workers without having to directly compete with them will also be helpful in your application for Singapore PR.
Applicants who have been residing and working in Singapore for a long time will also be more successful in their PR applications. The minimal period of residence before an application can be made is 12 months, but any time longer than that can help the applicant. This means that to qualify, one must first relocate to Singapore on a work visa, either on Employment Pass (EP), Entrepreneur Pass (EntrePass), Personalised Employment Pass (PEP), or S Pass.
The Global Investor Programme (GIP scheme)
This particular scheme is devised for foreign investors. Singapore is already widely regarded as a worldwide commercial hub thanks to its business-friendly legislation, attractive tax structure, and political stability. On top of that, the nation has favourable immigration regulations that, through the GIP programme, draw in international entrepreneurs from all over the world.
With the help of this programme, qualified investors can apply for PR on behalf of themselves and their immediate families by launching a new company in Singapore with a minimum investment of S$2.5 million or investing a comparable amount to an existing company there. Currently, there are two investment alternatives available under the GIP scheme: (1) investing at least S$2.5 million in a new business startup or an existing business operation; or (2) investing at least S$2.5 million in a GIP-approved fund.
In addition to the minimal invested capital, there are additional requirements that must be met, such as having a successful track record in business, an entrepreneurial history, and a company proposal or investment strategy, in addition to the minimal amount of invested capital.
The Foreign Artistic Talent Scheme (ForArts scheme)
In recent years, Singapore’s arts community has expanded quickly, in keeping with the nation’s goal of becoming a centre for arts and culture. For professionals with an aptitude in any field of the arts, including photography, literature, music, dance, theatre, or film, the Foreign Artistic Talent scheme offers a rare chance to apply for permanent residency. The scheme aims to empower devoted and talented individuals to play a significant role in improving Singapore’s arts and cultural landscape through increased involvement with local communities and contributions to the diversity of expertise.
The people applying must be well-known in their own country, preferably with an international reputation, and have the necessary training in their field of activity to be eligible for this programme. Additionally, they must have made a major contribution to Singapore’s arts and culture scene, have a history of leadership involving local engagements, and have specific ambitions to become active in the country’s cultural sector.
Additional requirements would be:
- Relevant training/education in the field of practice;
- Professional experience with outstanding achievements in the fields of Literary Arts, Visual Arts, Design, Performing Arts, or Media;
- Have made significant contributions to Singapore’s arts and cultural scene, including a strong track record of local engagements at the leadership level; and
- Have concrete future plans to be involved in Singapore’s arts and cultural scene.
To be favourably regarded for approval under this PR scheme, qualified applicants must additionally exhibit good morals and the capacity to serve as role models for their peers, in addition to having the capacity and commitment to play a crucial role in improving local arts and culture.
All PR schemes require applications and related communications to be made through the ICA eService throughout the entire procedure. A list of documents is usually needed when applying for permanent residency, including birth certificates, marriage certificates, transcript certificates from higher education, recommendations from prior employers, tax assessments, and certifications of professional membership and licences, all of which must be translated into the English language. Once it is finished, a time slot will be given for an interview and document submission at the ICA building. Processing a permanent residency application typically takes four to six months. If the submitted paperwork is not in order, the procedure will take much longer.
Compared to the other PR schemes, the PTS scheme is by far the fastest and most straightforward option to obtain Singapore permanent residency. Although the GIP plan likewise has a high approval rate, it is only available to wealthy people who can invest a minimum of S$1 million or more in Singapore. As for the Foreign Artistic Scheme, if the applicant is not a well-known and influential artist on the global stage, their chances of being approved for the Foreign Artistic Scheme are slim.
Professionals and other foreigners who can contribute positively in a variety of ways to the country’s economy and development are welcomed by the government of Singapore. The various PR schemes are designed to assist them in obtaining Singapore permanent residency using the route that is most appropriate for their circumstances while also delivering a positive effect on the development of the home country.
If you are not sure through which scheme you should apply for Singapore PR or need help with the process, you can always contact us. Our team of experienced immigration consultants will be more than happy to answer all your queries and help you with the application process.