Singapore Permanent Residence Options
Not only is Singapore a preferred place for startups and businesses, the country is also a highly desired country for immigration. Foreigners opt to relocate to Singapore due to the excellent quality of life that the country offers. There are several visa types in Singapore that are issued to foreign professionals and entrepreneurs. Foreigners holding visas such as the Employment Pass, Personalized Employment Pass and EntrePass can eventually apply for Permanent Residency (PR) in Singapore.
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There are three schemes through which a foreigner can apply for Permanent Residency. These schemes are designed especially for professionals, entrepreneurs, investors and artists. This article will provide an overview of these three schemes.
Permanent Residence Schemes
Professional, Technical personnel and skilled worker (PTS) Scheme
This scheme is applicable to professionals, technical personnel and skilled workers who are already working in Singapore. The PR for this category is granted based on the employment profile of the applicant. The PTS scheme is valid for Employment Pass, Personalised Employment Pass and EntrePass holders and most foreign nationals apply for their PR through this scheme. An applicant’s family member can also apply for the PR along with him or her. However, there are certain eligibility criteria and conditions that the applicant must fulfill before and after the granting of the PR. Please note that the grant of a successful PR under this scheme depends on many factors such as age, duration of stay in Singapore, employment history, salary, etc.
Global Investor Program (GIP) Scheme
Launched by the Economic Development Board and the Ministry of Manpower, the Global Investor Program is targeted at individuals and entrepreneurs who wish to invest in Singapore businesses. The GIP outlines the minimum investment required on the basis of which an investor along with his family can apply for PR in the country. The main criteria on the basis of which a GIP application is approved is the applicant’s business record and entrepreneurial background. Additionally, the applicant must invest in industry sectors specifically outlined in the program such as Energy, Healthcare, Automotive, Natural Resources, Media & Entertainment, etc.
Foreign Artistic Talent (FA) Scheme
Introduced in 1991, the Foreign Artistic Talent Scheme is a move by the Singapore government to attract foreign arts professionals to Singapore. The National Arts Council (NAC) who jointly administers this scheme with the Immigration & Checkpoint Authority (ICA) has put forth specific eligibility criteria that applicants must fulfill. Before applying for the PR, applicants must ensure that they are trained in their field of practice and have made a significant contribution to Singapore in the field of arts and culture.
Applying for Permanent Residency
The Immigration & Checkpoints Authority (ICA) in Singapore grants Permanent Residency to applicants. The form, procedure, and documents that are required for the application depend upon the category the applicant falls under. The ICA is very meticulous in its review and will reject a PR application even if there is a small mistake. To ensure that your application is submitted according to the guidelines prescribed by the ICA, it is best to engage a reputable corporate service provider to assist you in your PR application.