(+65) 6299 5995 enquiry@enrichco.com

Office Address

320 Serangoon Road, #04-18 Serangoon Plaza, Singapore 218108

Phone Number

(+65) 6299 5995

(+65) 6295 6075

Email Address

enquiry@enrichco.com

enquiry@enrichco.com

 

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 your 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 Office2 & 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
  • Candidates and dependents who are also PR under GIP, must have resided in Singapore for at least 2.5 years.