Singapore Companies
Offshore Companies
APPLICATION FOR SINGAPORE PERMANENT RESIDENT |
| ELIGIBILITY |
| 1. Who can apply ? |
| Individuals aged 21 and above with net personal assets (NPA) of not less than SGD 20 million may apply. |
| 2. What is the main condition of the scheme ? |
| The applicant shall place in Singapore at least SGD 10 million of financial assets ("Minimum Sum") in a designated account that will be booked and managed (relationship management/discretionary management of assets) by a financial institution regulated by the Monetary Authority of Singapore (MAS) for a continuous period of 5 years. |
| 3. Can the applicant's family members also apply for permanent residence (PR) in Singapore ? |
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Yes, the applicant may apply for permanent residency for his dependents. A dependent is defined as the main applicant's spouse, and unmarried children under 21 years. MAS will accept the age of children to be below 21 for applications received at least 3 months before the child's date of birth.
A married child, even if he is under 21 years, is not considered a dependent and must submit an application in his own right, i.e. he must have NPA of SGD 20 million. Having formed his own family unit, the married child will no longer be viewed as a being a dependent of his parent. The main applicant may include accompanying applicants, i.e. unmarried children aged above 21 years in the same application. Dependents If only accompanying dependents are included in the application, the Minimum Sum remains at SGD 10 million. Unmarried child over 21 years For each unmarried child aged over 21 years, the applicant must maintain an additional SGD 5 million in the account. The unmarried child over 21 years is not required to have NPA of SGD 20 million in order to qualify for the Scheme. Parents and parents-in-law Parents or parents-in-law are eligible to apply for the 5-year Long Term Visit Pass (LTVP), which is renewable and tied to the validity of the main applicant's re-entry permit period. |
| 4. How long does the application process take? How will the applicant be informed of the outcome? |
| The processing of each application takes about 5 months upon submission of complete information.
Where discrepancies/inaccuracies are found, the application will be returned to the Financial Institutions (FI) for the necessary revisions. The FI should re-submit the application and/or additional information within 1 month of the return of application and/or request for information. Successful applicants will receive an Approval-In-Principle letter from the Immigration Checkpoint Authority (ICA) through the Financial Institution. |
| 5. What must the applicant do after he receives the Approval-In-Principle (AIP) letter? |
| The AIP is valid for 6 months, within which time the applicant must fulfill conditions prescribed in the letter, including, the commitment of the Minimum Sum and a medical examination. The medical examination need not be conducted in Singapore but the date of the report(s) should not be more than 3 months before completion of final formalities for permanent residence. |
| 6. Who is liable for Singapore National Service (NS)? |
| Main applicants who are granted Singapore Permanent Residence (SPR) status as the first generation under the Financial Investor Scheme are exempted from NS. Male children who are granted SPR status under their parents' application are liable for NS upon reaching 16 years old. |
| 7. How long should an FIS-PR stay before becoming a Singapore Citizen? |
| Applicants may apply for citizenship after residing in Singapore as a PR for 2 years. Absences from Singapore due to official business may be treated as residence for purposes of citizenship application on a case by case basis.
Applicants who are granted citizenship during the 5-year retention period will no longer need to comply with the terms and conditions of the Financial Investor Scheme. |
| 8. Please Provide the folilowings for our Preliminary Assessment on the eligibility of FIS scheme ? |
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| Please Provide these documents via Email. |
| Apply Now ? |