SINGAPORE PERMANENT RESIDENCE

SINGAPORE PERMANENT RESIDENCE (PR)

With the first world lifestyle in Singapore, many foreigners want to obtain a Permanent Residence. We at Enrich Consulting, provide professional advice, documentation and application form filling for Permanent Residence applicants. We offer quality and efficient work in ensuring that you application documents are in order. Talk to us now and know your options.

You qualify for the Permanent Residence if you satisfy any of the following categories:

A. Professionals, Technical Personnel and Skilled Workers Scheme (PTS Scheme)

Under the PTS Scheme, the following are eligible to apply for Permanent Residence:

  • Employment Pass/ Entrepreneur Pass / S Pass holder
  • Their spouse and children under 21 years old.
B. Spouse and unmarried children (below 21 years old) of a Singapore Citizen / Singapore Permanent Resident (SPR)
C. Aged Parents of a Singapore Citizen
D. Investors/Entrepreneurs (Global Investor Programme)

Under the Global Investor Programme, Singapore offers the opportunity for foreigners to incorporate a business or invest in an existing business in Singapore while paving the way for migration to the country through Permanent Residence.
Two options are available under the GIP:

  • Option A: Invest a minimum of $2.5 million in a new business entity or expand an existing business operation; or
  • Option B: Invest a minimum of $2.5 million in a GIP Fund that invest in Singapore based companies

ELIGIBILITY:

  • Must have substantial business track record; and
  • Successful entrepreneurial background

ASSESSMENT CRITERIA FOR GIP APPLICATION

  • At least 3 years of entrepreneurial and business track record and must produce audited financial statements of your company for the last 3 years
  • Your company must only be engaged in one or more of the businesses listed below:

List of industries

(a) Aerospace Engineering

(b) Alternative Energy/Clean Technology

(c) Automotive

(d) Chemicals

(e) Consumer Business

(f)  Electronics

(g) Energy

(h) Engineering Services

(i) Healthcare

(j) Infocomm Products & Services

(k) Logistics & Supply Chain Management

(l)  Marine & Offshore Engineering

(m) Media & Entertainment

(n) Medical Technology

(o) Nanotechnology(p) Natural Resources

(q) Safety & Security

(r) Space

(s) Shipping

(t) Pharmaceuticals & Biotechnology

(u) Precision Engineering

(v) Professional Services

e.g. consulting, design

(w) Arts Businesses

-Visual arts businesses, e.g. auction houses, art logistics/storage

-Performing arts businesses

(x) Sports Businesses

(y) Family Office & Financial Services

  • Your company’s turnover must be at least S$50 million in the most recent year, and at least S$50 million per annum on average for the last 3 years.
  • You must submit the financial statements of your company with the highest turnover. You may also consolidate your businesses to meet the minimum turnover criteria.
  • If your company is privately-owned, you should have at least 30% shareholding in the company. Your role in the company, as well as the company’s growth and profitability would be taken into consideration.

Additional Assessment Criteria for OPTION A Applicants:

  • You must submit a detailed 5-year business or investment plan with projected employment and annual financial projections
  • You are required to fulfill the milestones outlined in your business or investment plan 5 years from the date of investment.

Validity of Re-entry Permit

A successful GIP candidate will be issued a Re-Entry Permit (REP) for 5 years upon the formalization of his PR status. A valid REP enables him to retain the PR status while traveling in and out of Singapore.

After the initial 5 years, the REP may be renewed subject to the following conditions:

3-year renewal:

  • GIP candidate must have fulfilled the investment conditions under either Option A or Option B of the GIP; and
  • either have set up a business in Singapore with at least 5 Singaporean employees and have incurred at least S$1 million in total business spending a year;
  • or fulfil the minimum residency period (at least 2.5 years) by either GIP candidate or at least one dependent, who is also a PR under GIP.

5-year renewal:

  • GIP candidate must have fulfilled the investment conditions under either Option A or Option B of the GIP; and
  • Have set up a business in Singapore with at least 5 Singaporean employees and have incurred at least S$1 million in total business spending a year; AND
  • Candidate and dependents who are also PR under GIP, must have resided in Singapore for at least 2.5 years.

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TESTIMONIALS

  • In my journey to obtaining my ENTREPRENEUR PASS, I was plagued with many problems in looking for the right business consultant who can guide me and make the process easier and hassle free. I wanted fast but quality service and Enrich was able to deliver. Now, I am on my way to becoming a Permanent Resident and a Singapore Citizen. I would like to thank the Enrich family for their valuable help in giving me a chance to expand our business in SINGAPORE and for creating better opportunities for me and my family

    Mr. A.B.M. Badrul AminManaging Director, Baraka Logistics Pte. Ltd
  • We intended to venture in business, but we were in a dilemma in choosing which consultant to engage in setting up the business, obtain the necessary formalities and Visas. During short listing of the consultants, we were referred to Enrich by one of our trusted friend. Having engaged Enrich as our business management consultants, we were successful in getting the company incorporated and got our necessary Work passes and complied with all the necessary legal and tax formalities. We found the Enrich team to be outstanding Professionals in the areas of Business, Accounting, Immigration and Manpower matters in Singapore. They helped us in every step including setting up the company, obtaining necessary passes, CPF, Tax & ACRA compliance.   We continue to be very happy with Enrich and recommend them to anyone

    Aishath FaizManaging Director, Ermes Pte. Ltd.
  • We were planning to expand our business and migrate to Singapore but we were not sure how to proceed and what the formalities were. Having searched a few consultants, we found that Enrich Consulting was an excellent choice to work with.

    Mr. Peter Svahn Managing Director, Best Practice Pte. Ltd.
  • We found that their professional suggestions, opinions and recommendations made sense to us and gave us confidence in starting our business and migrating to Singapore. They guided us with company incorporation, bank account opening, tax planning, accounting, migration, etc. Also, the fee charged by them was very affordable and reasonable. Through their service we have successfully set up the company and got our Business Pass and our children’s dependent pass approved. We are now in the process of being naturalized in Singapore. We thank Enrich and its team for rendering outstanding service to us!"

    Mrs. Linn Svahn KlewinghausDirector, Best Practice Pte. Ltd
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