Why Migrate to Singapore
- Asia’s financial and wealth hub
The world’s top private banks and personal wealth company such as UBS and Credit Suisse have Singapore as their Asian headquarters, bringing together more than 40 per cent of the assets of wealthy Asians to become one of the world’s largest offshore financial centers.
- Low tax and exemption from double taxation
Singapore has one of the world’s simplest and more reasonable tax regimes that does not tax capital gains or dividends received from businesses. The corporate income tax rate is 17%. There are tax breaks of up to 75 per cent for start-ups. Singapore does not impose a capital gains tax.
In addition, dividends can be distributed tax-free to shareholders. Personal income tax is classified, with an average effective tax rate of about 6%. Singapore has a broad Double Taxation Avoidance Agreement (DTA) with more than 50 countries. These agreements are designed to ensure that economic transactions between Singapore and treaty states are not subject to double taxation.
- Best education
Nearly 20% of Singapore’s annual fiscal expenditure is devoted to the development of national education, and for many years adhere to bilingual education in China and Britain, naturally forming a bridge between East and West cultural integration. Singapore ranks first overall in the world’s largest under-15 basic education rankings in 2018, while IB graduates from more than 50 international schools in Singapore average more than 33 points, well above the world average of 29.
Several ways to immigrate to Singapore
- Work Pass
Skilled immigrants in Singapore are mainly targeted at professional and technical personnel or persons with a university degree or above. Persons who have been employed by a local company and issued a work visa may apply to the Immigration Department of Singapore for permanent residency on a valid work visa. There are two main types of work visas in Singapore:
- Employment pass (EP): For foreign professionals, managers and executives. Candidates need to earn at least $4,500 a month and have acceptable qualifications.
- S Pass (SP): For mid-level skilled staff. Candidates need to earn at least $2,500 a month and meet the assessment criteria.
- Student Pass
- Live in Singapore for 2 years or more
- Study in Singapore (public or private)
- Pass a Singapore National Examination (Ascending/O Level/A Level)
- Entre Pass
Singapore entrepreneurial immigrants are required to register a company locally and apply as an entrepreneur, innovator or investor. Applicants must be at least 21 years of age, hold at least 30% of the company’s shares and must be a new company registered for less than 6 months.
In addition, applicants can apply for family certificates on behalf of their families if:
Entrepreneur application conditions
- At least 100,000 new angel investors recognized by the Company by government investment agencies, venture capitalists or the Government of Singapore;
- A start-up Incubator or Accelerator project approved by the company’s government;
- Excellent entrepreneurial experience or business network
Innovators apply for conditions
- The company is working with the Singapore Science and Technology Research Council on research;
- The company acquires intellectual property rights in an authorized institution;
- In the relevant industries, have excellent technology and knowledge.
Investors apply for conditions
- Planned large investments in Singapore companies in the future;
- Have experience in creating large-scale companies or more than 8 years of experience at the top of large companies;
- Have a rich investment record
- Global Investor Programme
GIP Investment Immigration Application Conditions are as follows:
- Invest at least S$2.5 million to start a new company or expand your existing business, or invest at least S$2.5 million in a fund under the Global Business Investor Program
- Investment period up to 5 years or more
- Have three years or more of entrepreneurial experience and submit the company’s audit financial report for nearly 3 years
- The company’s turnover in the past year and the average annual turnover in the last three years amounted to more than S$50 million
- If the company is privately owned, it must hold 30% or more of the shares
- Tech Pass
Applicants do not have to be employed by any business to start a business locally or work in a Singapore-based business, invest, hold directorships, and work as lecturers at institutions of higher learning, subject to at least two conditions.
Conditions for applying for a science and technology permit immigrant:
- A fixed monthly salary of at least S$20,000 in the past year.
- He has held leadership positions for a minimum of five years in technology companies with a market capitalization of at least $500 million (approximately S$660 million) or at least $30 million (approximately S$39.7 million) and has led the development of technology products.
- He has led research and development of technology products for at least 5 years, with at least 100,000 active users per month, or at least $100 million in revenue (approximately S$130 million).
How to become a Singapore Citizen
There are three main steps to become a local citizen:
- Obtain a Singapore Long Term Residence Visa (including student visa, work visa, etc.)
- From long-term residence to permanent residence, work visa holders can apply after about 6 months for processing time of approximately 4-6 months
- Once you have obtained permanent residency and meet the conditions for residence, you can apply to become a Singapore citizen for a processing time of approximately 6-12 months.
The conditions include:
- 21 years of age or older and holds permanent residence in Singapore for at least 2 years
- Married to a Singaporean citizen for 2 years or more and holding permanent residency in Singapore for at least 2 years
- Unmarried 21-year-old children born or legally adopted by Singaporean citizens
- International students with permanent residency in Singapore who have lived there for 3 years (at least 1 of whom are permanent residents) have passed a Singapore National Examination