Have you been dreaming about living in Singapore, the Lion City? Don’t worry, it may be easier than you think! Here is an overview of the business immigration procedures in Singapore.
Each year, thousands of business-minded emigrants get permanent visas to stay in Singapore. However, not all of these fortunate people don’t pass through the same application procedures.
A whole family can apply for permanent visas provided the couple do not have married children.
Types of Permanent Residence Schemes in Singapore
If you officially become a Singaporean resident, you can live and work without being restricted by any law. Your children will have access to the good quality education provided by the best public schools on the island city state. And if that is not enough, you can buy properties and take part in retirement schemes.
While permanent residents enjoy a plethora of benefits in Singapore, they must be prepared for the requirement that their grown-up sons to serve in the Singapore military for 2 years. It’s important to note that this military service is not optional.
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Singapore Workers (Professionals, Technical People)
For Singapore-based workers, this is usually the easiest path to landing a Singaporean permanent stay permit.
You can get this visa by applying for the entrepreneur/employment pass, after which you must work there for about a half year before seeking a permanent stay permit.
For short-term stays, Singapore is visa-free to many countries in the world. However, getting a permanent Singapore resident visa can be difficult since this economically robust Asian country doesn’t tolerate people who can’t add value to their economy.
Businessmen can also secure Singapore permanent resident visas by applying through the Global Investor Program (GIP). A lot of terms and conditions apply here.
For example, investors must start up a business with an initial capital of about 2.5 million Singapore Dollars. If you don’t want to start your own business, then you must invest this same amount of money in an existing Singapore company.
Apart from meeting the minimum capital requirement, the investor should have a proven record of business success, and a convincing business proposal.
Foreign Artistic Talents Scheme
The art sector of Singapore has been growing rapidly in recent years. Government officials are working really hard to develop Singapore into an art hub for Asia.
This is good news for foreigners who have artistic talents in music, theater, or photography, etc. You can apply to live in Singapore permanently through the art scheme.
Applicants under this category will have to satisfy the conditions below.
- Have an interest in promoting Singapore art.
- Must have made some past efforts to develop Singapore’s art.
- Be a prominent artist in your home country.
- Possess good skills in your art field.
Singapore’s borders are always open to welcome skillful individuals who can make a positive impact on its wealthy economy.
Depending on personality, you can use any of the above-mentioned schemes to realize your big dreams about entrepreneurship in the Asian region.