Singapore boasts excellent infrastructure, including telecommunications and public services and is considered the pearl of the East. Usually foreign-source income is not taxed, provided that it is not remitted to Singapore. to receive internationalization, business-driven structuring intelligence directly to your inbox, Immigration by Investment and Tax Residency, Get one of the most valuable passport worldwide, Visa-free or Visa on arrival to 173 countries, including United States, China, Schengen Area, Eligibility for leave and parenthood incentives and benefits, Cheaper medical fees and charges, eligibility for Medifund and Primary Care Partnership Scheme, Cheaper school and university fees, eligibility for Edusave Scheme (Education subsidy), Eligibility to obtain loans from the HDB at a concessionary interest rate to fund the housing, Eligibility to buy and rent new Housing and Development Board (HDB) apartments (including subsided apartments and executive flats), The right to live and work in Singapore, without any time limit, Eligibility to purchase of resale Housing and Development Board (HDB) apartments, Eligibility to purchase landed property (Under Ministry approval), Make contributions to the Central Provident Fund and get coverage for needs in medical treatment, pension, education for children, Access to healthcare and education system, Extremely safe, modern and livable country, Original or Certified copy of Birth Certificate (if applicable), Notarised copy of Family Census/Household Registry, Original or Certified copy of Marriage Certificate (if applicable), Audited accounts of the company (3 years) (if applicable), Certificate of shareholders by the Registrar of Companies (if applicable), Certified copy of Business License or Incorporation documents (if applicable), Copy of ACRA (Accounting & Corporate Regulatory Authority) (if applicable), Undertaking on the Terms and Conditions of the Program. Non-owner occupied residential property is taxed at graduated rates from 10% to 20%, owner-occupied residential property from 0% to 10%, and land and non-residential properties at 10%.Stamp duties are levied on certain transactions. Once submitted, a final approval of your PR will be issued to you. The key is to stand out and convince ICA to approve your application over others. The Singapore passport is widely accepted worldwide. There are defined categories of foreigners who are eligible to apply for permanent residence. In order to better serve you, we ask that you please fill out the following form as accurately as you can and provide as many details as possible. We will get back to you shortly to better assess your unique situation and find solutions. Singapore's Immigration and Checkpoints Authority generally renews REPs for 5 years, subject to PRs demonstrating some actual residence and economic activity in Singapore. Residence-by-Investment Foreign nationals may apply for permanent residence status through the Singapore Global Investor Program. The ‘Not Ordinarily Resident' (NOR) scheme targets global business skill sets and offers many tax concessions for a five year time frame for those who have not been resident for three consecutive years previous to the application. The Republic of Singapore is an island country 137 km north of the equator. View our privacy policy, Thank you very much for contacting us. Citizenship by investment programs legally confer citizenship status faster than traditional immigration processes and do so … Immigration through Investment to Singapore. The V.A.T. The Citizenship by Investment Unit advises that the Cabinet of Antigua and Barbuda at its meeting on Wednesday, 12th February, 2020 has approved a Limited Time Offer (LTO) on fees for the addition of dependent children to approved applications as follows: Dependents aged 0 – 5 years – US$10,000.00 Dependents aged 6 – 17 years […] This particular scheme, officially known as Global Investor Programme (GIP Scheme), is often referred to as the Investor Scheme. Featured benefits of the Singapore citizenship program : •  There are no gift taxes and estate duty was abolished in 2008. There is also a voluntary contribution under the Supplementary Retirement Scheme.Property tax is levied on the annual value of houses, land, buildings, or tenements. Citizenship After two years of Permanent Residence, you may be eligible to apply for citizenship under the … Anyone who establishes a business in Singapore obtains employment there, or marries a citizen of Singapore can obtain permanent residency. Taxes in Singapore are levied on a territorial basis, meaning that citizenship in Singapore has no effect on your offshore companies or investments. on the matter(s) in this website please contact our offices and we will refer you to an appropriate legal practitioner. However, applying for citizenship in Singapore isn’t an easy or fast process. Citizenship by investment obtains second citizenship and passport for a person by investing in the economy of the host country. Citizenship by Investment | Get Second Passport in Singapore Singapore is a wealthy city state in south-east Asia. The major criterion you must meet is to show track of your business record for the last 3years with an audited financial statement of the business. Singapore has a liberal tax system and in recent years has leveraged tax regulations to favour foreign investors. Singapore is a single citizenship country, which is stringently enforced. Foreign-source income is only taxable if it is received in the country by a resident through a partnership in Singapore. ✔ After two years of permanent residence in Singapore, it is possible to apply for Singaporean citizenship. We disclaim any warranties expressed or implied, merchantability, or fitness for any particular purpose. Citizenship After two years of Permanent Residence, you may be eligible to apply for citizenship under the … There is an exemption of 75% of the first S$10,000 of taxable income and 50% of the next S$290,000. Singapore is often cited as one of best places to live internationally and is also one of the wealthiest countries in the world. No tax on worldwide income. this website. Dividends paid to non-residents are tax-exempt, whereas interests and royalties are subject to a withholding tax of 15% and 10% respectively. Citizenship-by-Investment programs offer you the opportunity to legally acquire a new citizenship quickly and simply, without any disruptions to your life. A foreign resident is considered a tax resident if they are physically live in Singapore and or employed for 183 days or more per tax year. The Singapore Government has announced expanding the scope of golden visa scheme to attract investment. You will require a SingPass account to submit an application. by Investment Foreign applicants are granted the right to receive Singapore citizenship after living in the country for 2 years with the resident status. The permanent residency or the Immigrant Investors program in Singapore is known as the ‘Global Investor Program (GIP) of Singapore’. Each application must pay $100,000 for citizenship. Citizenship by investment is exactly what it sounds like: foreigners invest a certain sum of money in a country in exchange for citizenship and a passport. However, Singapore is a single citizenship country. If you are applying under the sponsorship of a Singapore citizen, your sponsor will need to log in via his or her SingPass account. The Global Investor Programme (GIP) accords Singapore Permanent Resident status (PR) to eligible global investors who intend to drive their businesses and investment growth from Singapore. The Global Investor … Once done, we will send you application forms and provide assistance on completing the questionnaires, and translate and authenticate documents. A Singaporean citizen is considered a tax resident if the individual normally resides in Singapore. The pros include holding a Singapore passport, which has visa-free or visa on arrival access to 189 countries and territories, and subsidies on education, healthcare, housing and employment. •  Capital gains taxes are only applied in limited situations. Singapore is politically and economically stable and has extensive and highly valued education and healthcare systems. Singapore is a single citizenship country, which is stringently enforced. If you wish to invest and obtain residency in Singapore you may apply for the Global Investor Program. These include: •  Investors and Entrepreneurs under the Global Investor Program, •  Employment Pass Holders under the Professional, Technical Personnel and Skilled Workers Scheme (PTS), •  Spouses and unmarried children of a Singapore Citizen or a Singapore Permanent Resident. Singapore is also a world renowned financial centre, home to many international banks and investment based financial institutions. Singapore Global Investor Programme: The PR scheme for investors You can apply for Singapore PR (permanent residence) if you are willing to invest in the country and support your funds with proven entrepreneurial skills. Singapore stands out as a low tax jurisdiction. Ireland: The country is centered on different services such as life sciences, agribusiness, high tech, … There are no inheritance, gift and net wealth taxes in Singapore. Subsequent to the first five years, the REP would be renewed if the investor fulfils the following conditions: The investor must have met the investment conditions under Option A or Option B of the GIP; and either established a business in Singapore with five or more Singaporean employees and has spent at least SGD 1 million in total business spending a year ; or the investor or at least one of his/her dependants, who is also a PR under the GIP, must have resided in Singapore for more than 50% of the time. Option A- an investment of at least SGD 2.5 million in a new business entity or expansion of an existing business operation. The GIP offers two investment options: 1. consequential, or other damages. Flag Theory is an internationalization and offshore solutions provider, and the creator of passports.io, Your privacy is important for us and we will keep your information secure. If you wish to invest and obtain residency in Singapore you may apply for the Global Investor Program. Flag Theory | Passports.IO will guide you through each step of the process to ensure that it is as fast, efficient and pain-free as possible.Together with our partners in Singapore, we will assist you to evaluate the different investment options to find the most suitable one according to your needs. Over the past years increased qualification requirements has slowed the number of Employment Passes and Permanent Residence approvals. All Singapore citizenship applications must be submitted online using the e-Service.Please prepare the required documents provided in the document checklists for submission online via the e-Service.. Click here for information that your spouse and/or child will need to know on becoming a Singapore citizen.. Therefore, Singapore is not ideal or practical if you are interested in holding more than one citizenship and passport. Capital Gains are not usually subject to taxation. The scheme will run only for 3 years and will permane… Under the PTS, an applicant may include their spouse and unmarried children less than 21 years of age in the permanent residence application. •  Personal income tax rates are low and increase at progressive rates up to 20%. Transfer of stocks and shares are subject to stamp duty of 0.2% on the purchase price or market value of the shares transferred, whichever is higher. It enables a person to retain the PR status while away from Singapore. Its population is about 5.5 million, of which about 75 percent are Chinese, with the rest being Malay, Indian or Eurasian minorities. The contents of this website are just for illustrative purposes and are NOT to be The port of Singapore is one of the five busiest ports in the world. Launched in 2013, the Antigua and Barbuda citizenship by investment programme offers four routes to citizenship, including the non-profit National Development Fund and investment in real estate. There are additional stamp duties of up to 16%, depending on the type and use of the property and residency status of the owner. A valid REP is necessary whenever the PR wishes to travel in and out of Singapore. Therefore, Singapore is not ideal or practical if you are interested in holding more than one citizenship and passport. So in total Montenegro will require EUR 350,000plus other fees and investors issued permanent residence within a month and citizenship within 6 months. Receive regular, specialized articles from FlagTheory.com on internationalization and business-driven structuring intelligence directly to your inbox. The Immigration and Checkpoints Authority (ICA) administers the registration of Singapore citizenship. English is the main language in Singapore and is used widely in administration, business and technology. Second Passports | Dual Nationality | Economic Citizenships | You are here », IPD and international citizenships, residency and visas. But there are cons to it too. Leases are subject to a duty of 0.4% on the total rent.There are excise duties on certain good and services such as intoxicating liquors, tobacco products, motor vehicles, petroleum products and gambling. Within 12 months you must apply for your PR permit and your Re-entry permit.For further information on Singapore’s Global Investor Program, citizenship, as well as other visa options and detailed procedures, contact us for a free private consultation. Under this program, foreign-nationals who invest at least S$2,500,000 setting up a new business entity or in the expansion of an existing business operation or in an investment fund, may be eligible for permanent residency. The Republic of Singapore, also known as Lion City or the Little Red Dot, is an island city-state of Asia, made up of a main island and sixty-two other islets. The GIP of Singapore allows a foreign individual access permanent residency in Singapore by making an investment in Businesses or Funds which have been approved by the Global Investor Program (GIP). Option A: Invest at least SGD (Singapore Dollar) 2.5 million in a new business entity or to expand an existing business operation, Option B: Invest at least SGD 2.5 million in a GIP fund that invests in Singapore-based companies. Usually, an individual is tax resident in Singapore if he or she spends more than 183 days in a year in the country, or engages in regular employment there.Residents are subject to a personal income tax at progressive rates up to 22% on annual income exceeding S$320,000. The country has introduced several options to attract investment, enabling the growth of businesses. Citizenship by investment is the process of obtaining a second citizenship and passport by investing in the economy of the host country. It is a founding member of the ASEAN and is located to the south of the State of Johor in the peninsula of Malaysia and to the north of the islands Riau of Indonesia, separated from these by Strait of Singapore. For conveyance of immovable property there is a stamp duty of 3% on the purchase price or market value, whichever is higher. Second Citizenship and residency by investment is no longer the preserve of the few in Singapore. Singapore's taxation system functions on a jurisdictional basis, only local income earned from within Singapore is taxable. This status is valid for 6 months. •  If the investor's company is in other sectors, the company's turnover must be at least SGD 50 million in the most recent year and at least SGD 50 million per annum on average for the last three years. All Singapore citizenship applications must be submitted online using the e-Service. Singapore offers a simple route to citizenship. We offer expert consultation advice and assistance. This is a limited economic citizenship scheme to 2000 applicants. We are consultants providing services to private and corporate investors - our mission is to educate, inform and guide buyers to select and purchase viable real estate and related products nationally and internationally. Click on the map below. Once a final approval letter is issued, the applicant is requires to formalise his or her permanent residence status within 12 months of the date of the letter, all of which makes for a lengthy process. The processing time is between 9-12 months (for the entire application process), and you can begin applying for citizenship after two years of permanent residence in Singapore. Even then, if you are in the naturalization process, you will have to give up your other passports as Eduardo Saverin did many years ago when he renounced his US citizenship to become a citizen of Singapore. •  An investor is eligible to apply for PR under the GIP if he/she has a proven and extensive business history and a winning entrepreneurial background. If you wish to receive a legal opinion or tax advice Within this period, you must make your investment and provide its documentary evidence. For more information complete a citizenship enquiry form, Read the introduction to Economic Citizenships ». Singapore's Immigration and Checkpoints Authority generally renews REPs for 5 years, subject to PRs demonstrating some actual residence and economic activity in Singapore. There are downsides, however. All applications and documents are to be submitted online via the MyICA e-service using a SingPass account.. At Singapore Immigration Partners, we work along this framework and fine tune your profile according to the needs of Singapore Immigration Policy. •  The standard corporate tax rate for 2014 is 17%. As is with any other country, becoming a citizen of Singapore also has its pros and cons. Foreigners interested in working and living in Singapore may apply for in-principle approval for a residence permit by submitting an application before they enter Singapore, provided they satisfy the defined criteria. You will need to have a substantial business track record and successful entrepreneurial background to qualify. If you do not hear from us during today, please check your Spam inbox or send an email to [email protected], Click to read more about Citizenship and Residency on flagtheory.com However, to get started, you apply for the global investor program in Singapore. Flag Theory is an internationalization and offshore solutions provider, and the creator of passports.io. As of June 2019, you will find that Singapore has around 3.5 million citizens, and the numbers are still rising. flagtheory.com. Singapore Citizenship by Investment Singapore has not introduced any direct citizenship by investment programs but you can indirectly get singapore citizenship after 2 years of permanent residency (PR). With your new passport from Singapore you'll be able to access 173 countries visa free, Credit card payments are collected by Incorporations Payments LLC with address at 26031 72nd Av NW, Suite O167, Stanwood, WA 98292, Although we use our best efforts to keep the information of this site accurate and up-to-date, we make no Under the Global Investor Programme (GIP), applicants may acquire permanent resident status in accelerated terms through investment in country’s economy. A person holding an Employment Pass (PTS) in Singapore may submit an application for permanent residence after one year of employment and residence within Singapore. •  In 2008, a one-tier system of taxation was introduced providing for the exemption of income tax on dividends, regardless of payment method. Residents and non-residents are subject to personal income tax on their income derived from Singapore. Flag Theory | Passports.IO has access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances. Options B- an investment for SGD 2.5 million in one of the GIP-approved funds. Foreign dividends, foreign branch profits, and foreign service fee income remitted to the country may be tax-exempt if it fulfills certain conditions.The corporate tax standard rate is 17%. Certain qualified start-ups may be three-year tax exempt on their first S$100,000 taxable income and 50% tax exempted on the next S$200,000. representations or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents of Upon the granting of the PR status, the investor will be issued a Re-Entry Permit (REP). Under GIP, these are the following investment conditions: Singapore is the world’s fourth leading financial centre and a cosmopolitan world city, playing a key role in international trade and finance. We shall in no event be held liable for any loss or other damages, including but not limited to special, incidental, If approved, you will get the approval-in-principle (AIP) Permanent Residence. Please prepare the required documents provided in the document checklists for submission online via the e-Service . The investor must have met the investment conditions under Option A or Option B of the GIB; and must have set up a business in Singapore with five or more Singaporean employees and spent at least SGD 1 million in total business spending a year; and the investor and his/her dependents who are also PR under the GIP must have resided in Singapore for more 50% of the time. Additionally, Singapore is one of the world’s most peaceful countries, has zero net debt, and is the second freest economy on earth. Foreigners must invest EUR 250,000 in real estate and also donate to government EUR 100,000. Once permanent residence is obtained, the applicant no longer requires an Employment Pass. Its official currency is the Singapore Dollar (SGD). Learn more about Singapore's corporate taxation, legal framework and tax treaties at incorporations.io/singapore.This should not be construed as tax advice. Non-residents income is subject to a flat tax rate of 22%. •  The spouse of the investor and his/her children (below 21 years old) are eligible to apply for PR under the GIP application. Male dependents will be liable for National Service. If required, we will introduce you to Singaporean banks in order to open a bank account to transfer the funds and make the investment.If your proposal does not pass our eligibility assessment, we will offer you alternative visa options to conduct your business or invest in Singapore.You will be required to pay the non-refundable processing fee prior to submitting the application. The Citizenship by Investment Program of Saint Lucia came into existence in 2015 under the regulations of the Citizenship by Investment … We specialize in international citizenship and provide bespoke investment services. associated company, is not engaged in the practice of law or tax. Regarding the investment, you must be able to invest a minimum of 2.5 million SGD in a Singapore-based company. Singaporean citizenship comes with a lot of benefits worth considering: a Singaporean passport carries excellent visa-free travel around the world and the country has an alluring economy for investors and entrepreneurs. The program is aimed at entrepreneurs or investors who are interested in making substantial financial investments in Singapore and is designed to attract wealthy foreign nationals who wish to make Singapore their home. Want to see more countries that offer citizenships? Key Additional Documents. Visa-free travel to more than 100 countries, including Hong Kong, Singapore, the UK, and Europe’s Schengen Area. The benefits of second citizenship by investment range from security, global mobility, education, and business. •  Parents and unmarried children of the investor who are 21 years old and above are not eligible to be included in the GIP application for PR status, can apply for a five year Long Term Visit Pass. Other countries offer a route to citizenship following a reasonable period of residence, such as Australia, Canada, Greece, Portugal, Singapore… Singapore attracts the biggest business markets and tax haven in south east asia. The Golden visa scheme known as ‘Global Investor Program (GIP)’ offers permanent resident status to foreign investors who invest atleast S$ 2.5 million (US$ 1.8m) Use of our websites FlagTheory.com, Incorporations.io, Residencies.io, Passports.io, is subject to our. Under GIP, foreign nationals can acquire a Permanent Residency (PR) status by investing a minimum of S$2.5 million (US$ 1.8m) in Singapore-registered companies or GIP funds that in-turn invest in Singapore companies. It provides the holder with visa-free access to over 160 countries, including the EU, the Schengen area, the US, Canada, China and others. Once a British colonial trading post, today it is a thriving global financial hub and described as one of Asia’s economic “tigers”. This is a very well-liked route for professional and highly skilled individuals, as no major investment is required. This multicultural diversity is reflected in the four official languages of the country: English, Chinese, Malay and Tamil. To apply for Singapore citizenship by investment, there are certain criteria you need to meet up to. The Global Investor Program (GIP) has been purposely designed for investors who are interested in starting up a business or investing in Singapore with the intent to gain Singapore Permanent Residence (PR) status. There are a lot of applicants with better profile, higher salary or much younger than you. Thank you. Capital gains, dividends and interests are not usually subject to taxation.Permanent Residents and citizens must contribute 20% of their monthly wage to the Central Provident Fund (CPF); contribution is capped at S$1,200. standard rate is 7%.Regarding corporate taxation, Singapore taxes companies on a territorial basis. So, it definitely involves a high investment both … considered as a legal opinion or tax advice and should not be relied upon as such. Citizenship By Investment While Singapore does not have a CBI program, citizenship can be obtained after two years of permanent residence in Singapore. QUALIFICATIONS. 2. Individuals who have been a Singapore PR for a minimum of 2 - 6 years and are at least 21 years old at the time of application are eligible for Singapore Citizenship. Far Horizon Capital Inc., and any •  The investor must possess at least three years of entrepreneurial and business track records and must produce audited financial statements of his/her company for the last three years. The new changes announced is coming in to effect from March 1, 2020.. We provide programs including Economic Citizenships, REITs, Bonds and Investment Packages. Montenegro opened a new special citizenship by investment program from Jan 1, 2018. 04. Contact us for further information. If granted the person is entitled to live and work in Singapore for at least five years. 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