Singapore is consistently hailed the “Land of Opportunity,” and rightfully so. The nation is like a business epicenter 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 is 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:
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- All applicants are required to prepare initial documents before initiating the procedure. Once the online application is initiated, individuals are given seven 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 colored 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, and 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, to be 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 The Singaporean Citizenship Program
Singaporean passport gives you access to around 173 countries, including China, Schengen Area, and the United States. You also get eligibility for parenthood initiatives, cheaper medical fees, and 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 in the country.
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