Singapores immigration policies

Immigration Policy

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Singapore's immigration policies 


There are a 2 ways to apply for residency of Singapore.


1)    EntrePass

2)    Global Investor Programme (GIP) 

 

EntrePass


Eligibility for EntrePass

Your proposed business needs to meet certain requirements for you to be eligible for an EntrePass. These may include funding from an accredited source, intellectual property, research collaboration or being an incubatee.

Who is eligible

You are eligible for an EntrePass if:

• You have (or intend to start) a private limited company registered with the Accounting and Corporate Regulatory Authority.

• If registered, the company must be less than 6 months old on the date you apply.

• If you have not registered, you can wait for the outcome of your application before registering.

• Your company has at least $50,000 in paid-up-capital. You need to provide a bank statement that shows at least $50,000 in a Singapore-based company bank account.

• You hold at least 30% of the shares in the company.

Application for an EntrePass is open to all nationalities.

Your company also needs to meet at least one of these requirements, which will be assessed on merits:

Has funding from a Government-accredited VC or business angel

Your company receives funding or investment from a venture capitalist (VC) or business angel who is accredited by a Singapore Government agency.

Examples include:

• Contact Singapore - Global Investor Programme (GIP)

• Economic Development Board Investments (EDBI)

• Infocomm Investment

• National Research Foundation - Early Stage Venture Funding (ESVF)

• SPRING Singapore - SPRING SEEDS, Business Angel Scheme (BAS)

Guidelines

• The company must receive monetary funding of at least $100,000.

• Submit a shareholder certificate and other relevant documentation to support your application.

Holds an intellectual property

Your company holds an intellectual property (IP) that is registered with an approved national IP institution.

Guidelines

• One of the shareholders must be the owner of the IP.

• Expired IPs can be considered as long as one of the shareholders is the inventor of the IP.

• The IP must be related to your proposed business.

Has research collaboration with A*STAR or a university

Your company has an ongoing research collaboration with a research institution recognised by the Agency for Science, Technology and Research (A*STAR) or institutes of higher learning in Singapore.

Examples include:

• National Research Foundation - Campus for Research Excellence and Technological Enterprise, Research Centres of Excellence

• National University of Singapore

• Nanyang Technological University

• A*STAR Research Institutes

Guidelines

• The duration of the research collaboration is not essential.

• The research institution needs to provide a contact person to verify the research collaboration details, which must be related to your proposed business.

• You must be involved with ongoing research collaboration.

• Contract of services is not considered to be research collaboration.

Is an incubatee at a Government-supported incubator

Your company is an incubatee at a Singapore Government-supported incubator, e.g. SPRING Singapore’s Incubator Development Programme.

Guidelines

• You must be an existing incubatee.

• Your incubatee work must be related to your proposed business.


 Second, investment immigration (GIP)

As an investor who is interested in staring up a business or investing in Singapore, you may apply for Singapore Permanent Resisdence status 9PR) through the Global business investors plan (GIP).


Under GIP

Option A:    Invest at least 2.5 million Singapore dollars in a new business entity or in the expansion of an existing business operation.

Option B:     Invest at least 2.5 million Singapore dollars in a GIP Fund that invest in Singapore-based companies.


You are eligible to apply for PR under the GIP if you have:

a)    A substantial business track record; and

b)    A successful entrepreneurial background

Assessment Criteria for GIP Application

a)    You must posses at least 3 years of entrepreneurial and business track record and must produce audited financial statements of your company for the last 3 years.

The financial statements must be audited by an accredited audit firm.

b)    Your company turnover must be at least S$50 million in the year immediately preceding your application and at least S$50 million per annum on average for the three years immediately preceding your application.

You should submit the financial statements of your company with the highest turnover.  You many consolidate your businesses, all of which must only be engaged in one or more of approved industries to meet the minimum turnover critieria.

c)    If your company is privately held, you should have at least 30% shareholding in the company.  Your role in the company, as well as the growth and profitability of your company would be taken into consideration.


Additional Assessment criteria for Option A applicants


You must submit a detailed 5 year business or investment plan with projected employment and annual financial projections.

You  are required to fulfil the third year milestones outlined in your business plan and fulfil your business plan within 5 years of Singapore Permanent Residence final approval.

If the business plan involves the investment into an existing Singapore based company, the additional third year milestones that the company would be required to achieve are:

a)    the hiring of at least 5 additional employees and

b)    an additional annual business expenditure of at least S$1 million.


Your company must be engaged in any of the approved industries.




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