The number of PRs in Singapore as of June 2013 is estimated to be about 524,600 from a population of about 5.6 million people, and the numbers are increasing. Although most foreigners apply for PR after working in Singapore for few years, there are other paths leading you to Singapore PR status. This guide provides an overview of the different types of PR schemes available in Singapore so you can decide on the one that best suits your needs and circumstances.
As a permanent resident of Singapore, you would enjoy most of the benefits and rights afforded to citizens. The range of benefits includes the right to live in the country without visa restrictions, higher priority public schooling for your children, more freedom to buy property and participation in the retirement fund scheme, etc. At the same time, you are required to make certain commitments, such as sending your sons to compulsory two-year military service once they reach 18 years old.
Singapore PR Scheme for Individuals Working in Singapore
The Professionals/Technical Personnel & Skilled Worker scheme (or simply “PTS scheme”) is for foreign professionals who are working in Singapore at the time of applying for permanent residence. The PTS scheme is the easiest and most assured route to attaining PR in Singapore. The key requirement is that you must be working in Singapore at the time of application. This means you must first relocate to Singapore on a work visa of the type known as Employment Pass or Entrepreneur Pass. You must show a minimum of six months’ worth of salary pay slips, which means that you must have worked in the country for at least six months before applying.
Singapore PR Scheme for Investors
You can also invest your way to Singapore permanent residence through an investment scheme known as the Global Investor Programme (“GIP scheme”). Under this scheme, you may apply for PR for yourself and immediate family by starting a business with a minimum investment of SGD2.5 million, or investing a similar sum in an established business in Singapore. At present, under the GIP scheme, you can choose from two investment options:
Option A: Invest at least S$2.5 million in a new business startup or expansion of an existing business operation.
Option B: Invest at least S$2.5 million in a GIP-approved fund.
Apart from the minimum funds you invest, you must also meet certain other criteria such as having a good business track record, an entrepreneurial background and a business proposal or investment plan.
Singapore PR Scheme for Foreign Artistic Talent
Singapore’s arts scene has been rapidly growing over recent years, as the country is aiming to be the regional arts hub. If you are talented in any arts, photography, dance, music, theatre, literature or film, you can apply for permanent residence through Foreign Artistic Talent scheme. To qualify for this scheme, you must be a well-recognized artist in your own country, preferably with an international reputation, and possess the relevant training in your field of practice. You must also have made significant contributions to Singapore’s arts and cultural scene, including a strong track record of local engagements at leadership level, and have concrete plans to be involved in the Singapore arts and cultural sector.