Singapore is rated to be one of the best places to live in. Every year thousands of people move to Singapore. With the addition of scenic beauty, it offers everything required for a perfect lifestyle. People have been choosing Singapore for a living, for centuries now but this trend has increased over the years because of the increasing trade and business in Singapore. About 50% of the working sector consists of foreigners.
Getting permanent residency in Singapore was quite easy but seeing the increasing trend, now almost half of the applications are denied. When you all look at the requirements for the application, you might think that you will get the residency in no time. This is not the truth. It is like the tip of an iceberg when you start applying the things can get complicated. Even if you successfully apply, there are very low chances of getting approved. Most of the people do not know the tactics for getting the approval and get denied. The immigration solutions are quite easy, all you need to know are some strategies which will get you through.
Here is the list of everything you need to know for getting PR & citizenship in Singapore.
Getting permanent residence
There are some very easy ways to get permanent residence. The first one is Technical Personnel & Skilled Worker Scheme. It is offered by immigration authority, and they keep a complete check on you.
The second option is to use The Global Investor Program. It is the most common program used by most of the applicants. It is controlled by contact Singapore. Once you apply using these programs, the final decision will still be made by the immigration authority.
Global Investor Program (GIP)
Immigration is a time taking and patience worthy time. You might think that you have everything up to the requirement but at the end, something might come up and ruin your application.
Global Investor Program (GIP) is there to help you with your problem. Since the time this program has been introduced, it has become popular among the applicants. This program offers best deals for growing your business. Businessmen from all around the world can approach you and invest their money. This program helps in making links in all around the world and expanding your business.
You can choose two options for the investment.
- For investing in a new business, you need at least $2.5 million. You can invest the same amount in flourishing the existing business.
- If you want to use Global Investor Program, again you need at least $2.5 million. GIP will invest it in Singapore.
If there is a problem in renewing the old passport. It is better to have a second passport. There could be so many reasons because of which, your passport might not get renewed. The countries situation might not be in your favor. There could be political situation going on. The second passport can help you in this situation, rather than waiting for the old passport to be renewed. In case of emergency, like if you lose your passport, it will take time to get another one. Until then you will have to wait, which can be a pain. Passport is not only required to travel, you might need it in other situations too, like if you need to renew your visa. The process will not be completed until you have renewed your passport or have a second one.
It does not matter if you need a permanent residency or just want to shift your business. Once you get the PR, you will have to pay the taxes like any other citizen.