Saturday, July 13, 2024
CEOWORLD magazine - Latest - Money and Wealth - Ways To Become A Singaporean Citizen

Money and Wealth

Ways To Become A Singaporean Citizen


Singapore is consistently hailed the “Land of Opportunity” and rightfully so. The nation is like a business epicentre and is home to several high-profile investors and prominent personalities. One of the prime reasons why Singapore acts as a hub for highly qualified workers, executives and managers are due to the myriad of prospects the locale offers.

So, if you are interested in making the nation your permanent address, then below are some of how you can do so. Let us check them out.

  • Check For The Eligibility Norms Before Applying:
    Like all other countries, Singapore also has certain eligibility norms which must be paid attention to in advance. Individuals who wish to acquire citizenship shall meet the age limit of 21 years and shall have resided in the country for 2-6 years before applying. You can also apply with your spouse but the condition remains the same.

    You can also obtain citizenship if you have been a permanent resident of the country and have been married to a Singaporean citizen. You must also have a spotless criminal record and be able to generate income for your family. If you are a student then qualifying for one National exam or intermediate program is a must.

  • Know About The Complete Application Procedure:
    As people nowadays are gravitating towards other countries knowing the application procedure becomes a standard feature. Singaporean citizenship also passes through 4 main stages before getting finalized or approved. These are:

    # All applicants are required to prepare initial documents before initiating the procedure. Once the online application is initiated individuals are given 7 days to fill in the application form with great precision. Then after completing the declaration make the payment.

    # Approval of the in-Principal letter is mandatory for the Singaporean citizenship journey. And during the process applicants are required to renounce their current citizenship.

    # The overall process takes 6-12 months to get completed. After the final approval, individuals receive a letter to renounce their foreign citizenship. Once the citizenship ceremony is completed immigrants are provided a Pink Identity Card and SC certificate.

  • Document Checklist To Have Prior Applying:
    As with any other citizenship program, for Singapore citizenship to get approved you need to have the following documents. These include coloured identity cards, foreign identity cards, passports or any travel document and birth certificate.

    People who are married shall provide an official marriage certificate, separation deed, birth certificate, travel document, divorce certificate, certificate of annulment if any, custody papers of the child if separated.

    Apart from this, education documents like skill certificates, professional licenses, membership certificates, letters of employment, payslips and income tax receipt are also required.

  • Investments To Be Made:
    Investment is an inevitable part of the Singaporean citizenship program. A minimum amount of S$ 2,500,000 shall be given to Enterprise Fund V Ltd, Evia Growth opportunities IV Ltd, F and H Singhome fund III Ltd, Phillip Ventures Enterprise Fund 5 Ltd and UVM 3 ventures Investment LP.

    Apart from the investment, for being eligible for permanent residency under the GIP, you must have a substantial business and entrepreneurial record. Once permanent residence is allotted a 5-year re-entry permit is issued.

    Also, individuals provided with citizenship must show exceptional economic merits to get the application approved. It is important to note that Singapore does not recognize dual citizenship thus to become a Singaporean citizen you will need to renounce your former nationality.

  • Benefits Of Singaporean Citizenship Program:
    Singaporean passport gives you access to around 138 countries including China, Schengen Area and the United States. You also get eligibility for parenthood initiatives, cheaper medical fees, buy and rent new Housing and Development Board.

Permanent Residency in Singapore also brings with it the right to live in Singapore, obtain mortgage loans from the bank and set up a profitable business that anchors major investors to the country.

Have you read?

Best Citizenship and Residency by Investment Programs.
Richest People in New York and Their Net Worth, 2022.
The World’s Top 10 CEOs Over 70 Years Old.
# These are the world’s most and least powerful passports, 2022.

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CEOWORLD magazine - Latest - Money and Wealth - Ways To Become A Singaporean Citizen
Sophie Ireland
Sophie is currently serving as a Senior Economist at CEOWORLD magazine's Global Unit. She started her career as a Young Professional at CEOWORLD magazine in 2010 and has since worked as an economist in three different regions, namely Latin America and the Caribbean, Africa, East Asia, and the Pacific. Her research interests primarily revolve around the topics of economic growth, labor policy, migration, inequality, and demographics. In her current role, she is responsible for monitoring macroeconomic conditions and working on subjects related to macroeconomics, fiscal policy, international trade, and finance. Prior to this, she worked with multiple local and global financial institutions, gaining extensive experience in the fields of economic research and financial analysis.

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