Singapore is highly developed international financial centre in south east asia. Singapore is a multicultural country of people from various descent. There are about 5 million people living in Singapore and of which most of them are Malay, Tamil or Chinese descent. Singapore has affordable cost of living and favorable taxation for corporates and individuals, thus attracting many immigrant investors.
Singapore Immigrant Investor Program
Singapore offers a `Global Investment Program` for business entrepreneurs and foreign nationals against an investment, for which a `Permanent Residence` can be obtained. Under this scheme, the applicant is given two options:
- Global Investor Scheme: Foreign investors will need to invest SGD $2.5 million (approx US$ 2 mill)in a Govt approved ventured capital funds and must have good business experience. If need be, You can also form new business or expand your existing business in Singapore.
- Financial Investor Scheme: The foreign invest must invest or deposit SGD $5 million (approx US$ 4 mill) in a financial instititution authorized by Monetary Authority of Singapore.
You will be given 6 months time to complete the investment in Singapore. A personal interview needed to be attended in Singapore.
With permanent residence investors can live freely and buy property in Singapore. It also opens doors to apply for citizenship after 2 years of permanent residence. Singapore does not allow `dual citizenship` and you have to renounce your existing citizenship before applying one.