Requirements for Permanent Residence in Singapore

Each year thousands of people become permanent residents of Singapore but not all of them go through similar application procedure. The attraction of attaining permanent residence in Singapore is increasing with every passing year as the country offers great employment opportunities with several other facilities.

People tend to apply for permanent residence because it is one of the well-established countries in Asia and an important center of business world. Most foreigners apply for permanent residence after working for a number of years in Singapore as it increases the chance of attaining it. There are many schemes through which you can apply for the permanent residence in Singapore. There are many benefits also. The range of facilities includes the right to live in Singapore without any visa restrictions, freedom to buy property, better schooling for children and participation in the retirement scheme. With numerous advantages the country is offering, there are some commitments that you need to fulfil after being a resident of the country such as, sending your son to compulsory two-year military service once he reaches the age of 18.

Who can apply for Singapore Permanent Residence?

Following are the categories of foreigners who are eligible to apply for permanent residence:

• Singapore Investors & Entrepreneurs
• Spouse and unmarried children (under 21 years) of a Singapore Citizen (SC) or Singapore Permanent Resident (SPR)
• Aged Parents of a Singapore Citizen
• P, Q or S Employment pass holders of Singapore

PR Scheme for Individuals employed in Singapore

The Professionals/Technical Personnel & Skilled Worker scheme (or simply “PTS scheme”) is for foreign candidates working in Singapore while applying for permanent residence. The main requirement of this is to be employed in the country and must have a minimum of six months’ pay slips to show which means that you need to at least work for six months in order to attain PR in Singapore.

PR Scheme for Investors

Global Investor Programme (“GIP scheme”) is one of the effective ways for investors to attain PR in Singapore. Under this scheme, you can apply for PR for yourself and your immediate family by investing or starting a business in Singapore.

There are two investment options provided by GIP scheme:

1.  Invest minimum amount of S$2.5 million in a either a new business or expansion of an existing business.
2. Invest minimum S$2.5 million in a GIP-approved fund.

Other than the minimum funds you choose to invest, there are some other criteria that you need to fulfil to attain PR such as havingan entrepreneurial background, good business track record, investment plan or a business proposal.

If you are planning of moving permanently to Singapore but you are lacking accurate and authentic information about the topic then you can always ask for official websites that can help you in providing all the information that you needs. If you have no clue where to start form then log on to http://immigration.sg/ for all the useful information about the matter. You can also get in touch with the representatives who will help you out in solving all your queries. Good Luck!