What’s the Big Deal About Singapore

Singapore brings all the aspects of a balanced lifestyle together.

From sipping cocktails at rooftop bars to indulging in luxurious shopping districts, the experience of living in Singapore is unlike anywhere else. With a bustling business in Singapore culture, the city-state draws professionals, entrepreneurs, and investors alike. Plus, it offers fantastic healthcare, top-notch education, and excellent banking systems.

Whether you’re eyeing an exciting career move or setting up a company in Singapore, its  economy and services sectors provide the ideal environment.

Now, let’s get down to business: How can you get Singapore permanent resident status?

1. The Professional, Technical Personnel, and Skilled Workers Scheme (PTS Scheme)

Let’s start with Singapore's most popular path to PR: the Professional, Technical Personnel, and Skilled Workers Scheme (PTS). You're already halfway there if you’ve got an Employment Pass (EP). To qualify under this scheme, you must have worked in Singapore for at least six months and have a valid work pass.

The government examines factors like your minimum salary for the Singapore Employment Pass, your work industry, and your educational background. The city-state favors professionals in services sectors like healthcare, technology, finance, and engineering, which are crucial to its booming economy.

Key docs to keep handy? Your birth certificate, employment records, tax filings, and salary slips. You’ll also need to prove that your employer and you are in it for the long haul.

2. How to Get a Work Pass in Singapore

Here’s the deal: No work pass, no game. Before you even dream about permanent residency, securing a valid work pass is your first step. It will come as your high-end entry permit. 

Singapore offers several work visas depending on your profession and qualifications. The most common form of employment for professionals is the Employment Pass (EP). You’ll need to meet certain criteria, including a fixed monthly salary that fits the role requirements.

For foreign entrepreneurs, the EntrePass is a golden visa. While it doesn’t grant direct PR status, it’s a fantastic way to start your company in Singapore and transition to PR through the PTS scheme. Think of it as the fast track for entrepreneurial minds with innovative ideas.

3. Invest in Singapore: Fast-Track Your Residency

If you’re ready to make relevant investments, the Singapore Global Investor Programme (GIP) is your ticket to permanent residency. The program requires a substantial investment—think S$2.5 million—in a local business activity or an approved fund. Wondering how to invest in Singapore to secure residency? GIP is your answer.

The Singapore Economic Development Board oversees the program, ensuring investments positively impact the economy. Investors must meet specific business spending and job creation targets within a few years of their investment. The GIP offers high-net-worth individuals an opportunity to fast-track their residency through substantial economic contributions.

4. Family Ties Matter: The Family Ties Scheme

For those with family members in Singapore, this one’s for you. The Family Ties Scheme allows PR applications for spouses, children under 21, and parents of Singapore citizens or permanent residents. Strong family connections can also make the eventual transition to Singapore citizenship much smoother.

FAQ: The Residency and Citizenship Breakdown

Still got questions? No worries. We’ve got answers for the most common queries about moving to Singapore, obtaining residency, and investing in this global powerhouse.

   How can I get Singapore citizenship?

You can apply for Singapore citizenship once you’ve been a PR for a few years. The Singapore citizenship application process requires a clean legal record, financial stability, and active social contribution. However, note that Singapore doesn't allow dual citizenship, so you’ll have to renounce your original nationality to become a Singapore citizen.

    What are the requirements for Singapore citizenship?

The requirements include holding PR status for at least two years, proving financial stability, and contributing to Singapore’s economy. The citizenship Singapore application process typically takes 2 to 5 years to complete.

    Can you get citizenship in Singapore?

Yes, but only after becoming a PR. Keep in mind that Singapore has a strict no-dual citizenship policy, meaning you’ll have to commit fully to the Lion City. The citizenship for Singapore process may take time, but the rewards are worth the wait.

    How to get Singapore permanent resident status?

If you’ve worked in Singapore for six months on an Employment Pass or started a business in Singapore, you can apply for PR through the PTS Scheme. Another option is the Global Investor Programme for high-net-worth individuals or the Family Ties Scheme for those with close family connections.

    How can I get a work permit in Singapore?

You can apply for a work permit or work pass based on your skill set and job offer. The Ministry of Manpower (MOM) oversees the processing of work visas, including the Employment Pass (EP) for professionals. For entrepreneurs, the EntrePass is your best bet.

    How to get a work pass in Singapore?

To obtain a work pass, you must meet certain criteria, including salary requirements, educational background, and job role. The Employment Pass (EP) is the most common route for professionals.

    What’s the minimum salary for a Singapore Employment Pass?

The fixed monthly salary for an Employment Pass starts at S$5,000 but can go higher depending on your role and sector. This salary level ensures you're eligible to apply for PR in the future.

    How to invest in Singapore and get residency?

You can secure residency by investing at least S$2.5 million in a local business or GIP-approved fund under the Global Investor Programme. But you must meet business milestones and create local jobs to maintain your residency status.

    What’s the Singapore permanent resident criteria?

The main Singapore permanent resident criteria include:

    ·       Holding a valid work pass (typically for six months or more).

    ·       Demonstrating financial stability.

    ·       Contributing to key economic sectors.

Life After PR: Living and Working in Singapore

Once you’ve secured your PR status, life in Singapore gets even better. 

As a PR, you can live, work, and travel freely, access top-tier healthcare, and even open a bank account. The living and working experience in Singapore offers unparalleled career growth opportunities, entrepreneurship, and a luxurious lifestyle.

Expats can also bring their families along, enrolling kids in excellent schools while enjoying the world-class healthcare system. Plus, PR holders are eligible for identity cards and various benefits that make everyday life a breeze.

The Application Process

The application process for permanent residency in Singapore is straightforward but requires detailed preparation. You must ensure that all documents, such as your birth certificate, employment records, tax filings, and educational qualifications, are in order. The processing time can vary but typically takes several months. Working with experienced consultants can significantly speed up the process and improve your chances of success.

How Wealth Consulting Can Help

Navigating the Singapore residency application process might seem like an uphill climb, but Wealth Consulting is here to smooth the way. From applying for work visas to securing PR through investment or the Family Ties Scheme, our expert consultants guide you through each step of the process.

Whether you're looking to invest, apply for PR, or even aim for Singapore citizenship, Wealth Consulting has the experience and know-how to help you achieve your goals.

Contact us today to learn how we can make your journey to Singapore permanent residency successful!