If you wish to invest and obtain residency in Singapore you may apply for the Global Investor Program. No tax on worldwide income. The V.A.T. Options B- an investment for SGD 2.5 million in one of the GIP-approved funds. This is a very well-liked route for professional and highly skilled individuals, as no major investment is required. Featured benefits of the Singapore citizenship 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 spouse of the investor and his/her children (below 21 years old) are eligible to apply for PR under the GIP application. After two years of permanent residence in Singapore, it is possible to apply for Singaporean citizenship. Singapore is a single citizenship country, which is stringently enforced. The port of Singapore is one of the five busiest ports in the world. Taxes in Singapore are levied on a territorial basis, meaning that citizenship in Singapore has no effect on your offshore companies or investments. There is an exemption of 75% of the first S$10,000 of taxable income and 50% of the next S$290,000. At Singapore Immigration Partners, we work along this framework and fine tune your profile according to the needs of Singapore Immigration Policy. 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. Contact us for further information. 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. The Citizenship by Investment Program of Saint Lucia came into existence in 2015 under the regulations of the Citizenship by Investment … Citizenship by investment is the process of obtaining a second citizenship and passport by investing in the economy of the host country. 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. 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. Learn more about Singapore's corporate taxation, legal framework and tax treaties at incorporations.io/singapore.This should not be construed as tax advice. •  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. 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. Please prepare the required documents provided in the document checklists for submission online via the e-Service . Therefore, Singapore is not ideal or practical if you are interested in holding more than one citizenship and passport. For conveyance of immovable property there is a stamp duty of 3% on the purchase price or market value, whichever is higher. 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. 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. View our privacy policy, Thank you very much for contacting us. There are additional stamp duties of up to 16%, depending on the type and use of the property and residency status of the owner. Citizenship by investment obtains second citizenship and passport for a person by investing in the economy of the host country. English is the main language in Singapore and is used widely in administration, business and technology. 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. 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. Singapore's Immigration and Checkpoints Authority generally renews REPs for 5 years, subject to PRs demonstrating some actual residence and economic activity in Singapore. standard rate is 7%.Regarding corporate taxation, Singapore taxes companies on a territorial basis. 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. 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. We provide programs including Economic Citizenships, REITs, Bonds and Investment Packages. The Singapore passport is widely accepted worldwide. 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%. Citizenship By Investment While Singapore does not have a CBI program, citizenship can be obtained after two years of permanent residence in Singapore. Within this period, you must make your investment and provide its documentary evidence. The new changes announced is coming in to effect from March 1, 2020.. If granted the person is entitled to live and work in Singapore for at least five years. However, Singapore is a single citizenship country. considered as a legal opinion or tax advice and should not be relied upon as such. Second Passports | Dual Nationality | Economic Citizenships | You are here », IPD and international citizenships, residency and visas. 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. The scheme will run only for 3 years and will permane… Residents and non-residents are subject to personal income tax on their income derived from Singapore. Singapore attracts the biggest business markets and tax haven in south east asia. 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.. •  Personal income tax rates are low and increase at progressive rates up to 20%. Its official currency is the Singapore Dollar (SGD). If approved, you will get the approval-in-principle (AIP) Permanent Residence. Under the Global Investor Programme (GIP), applicants may acquire permanent resident status in accelerated terms through investment in country’s economy. There are defined categories of foreigners who are eligible to apply for permanent residence. 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. As of June 2019, you will find that Singapore has around 3.5 million citizens, and the numbers are still rising. The Singapore Government has announced expanding the scope of golden visa scheme to attract investment. 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. •  There are no gift taxes and estate duty was abolished in 2008. consequential, or other damages. Receive regular, specialized articles from FlagTheory.com on internationalization and business-driven structuring intelligence directly to your inbox. So, it definitely involves a high investment both … Once submitted, a final approval of your PR will be issued to you. Citizenship-by-Investment programs offer you the opportunity to legally acquire a new citizenship quickly and simply, without any disruptions to your life. 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. 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. 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. If you wish to invest and obtain residency in Singapore you may apply for the Global Investor Program. 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. It provides the holder with visa-free access to over 160 countries, including the EU, the Schengen area, the US, Canada, China and others. But there are cons to it too. Under GIP, these are the following investment conditions: this website. ✔ After two years of permanent residence in Singapore, it is possible to apply for Singaporean citizenship. Use of our websites FlagTheory.com, Incorporations.io, Residencies.io, Passports.io, is subject to our. 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. Want to see more countries that offer citizenships? Once done, we will send you application forms and provide assistance on completing the questionnaires, and translate and authenticate documents. Foreign-source income is only taxable if it is received in the country by a resident through a partnership in Singapore. However, applying for citizenship in Singapore isn’t an easy or fast process. 2. flagtheory.com. Singapore is also a world renowned financial centre, home to many international banks and investment based financial institutions. 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 key is to stand out and convince ICA to approve your application over others. Click on the map below. To apply for Singapore citizenship by investment, there are certain criteria you need to meet up to. Singapore's Immigration and Checkpoints Authority generally renews REPs for 5 years, subject to PRs demonstrating some actual residence and economic activity in Singapore. You will require a SingPass account to submit an application. Over the past years increased qualification requirements has slowed the number of Employment Passes and Permanent Residence approvals. 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. Therefore, Singapore is not ideal or practical if you are interested in holding more than one citizenship and passport. 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. Capital Gains are not usually subject to taxation. •  The standard corporate tax rate for 2014 is 17%. If you are applying under the sponsorship of a Singapore citizen, your sponsor will need to log in via his or her SingPass account. Regardless of residence status, all foreign incomes are exempted, (unless moved through a business partnership in Singapore). Once a British colonial trading post, today it is a thriving global financial hub and described as one of Asia’s economic “tigers”. Singapore offers a simple route to citizenship. The country has introduced several options to attract investment, enabling the growth of businesses. •  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. It enables a person to retain the PR status while away from Singapore. After that we will submit your application with its supporting documents.It usually takes around 8 weeks to process the application. •  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. Anyone who establishes a business in Singapore obtains employment there, or marries a citizen of Singapore can obtain permanent residency. 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. 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. All Singapore citizenship applications must be submitted online using the e-Service. 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. Flag Theory is an internationalization and offshore solutions provider, and the creator of passports.io. Citizenship by investment programs legally confer citizenship status faster than traditional immigration processes and do so … The Global Investor … Montenegro opened a new special citizenship by investment program from Jan 1, 2018. Dividends paid to non-residents are tax-exempt, whereas interests and royalties are subject to a withholding tax of 15% and 10% respectively. Once permanent residence is obtained, the applicant no longer requires an Employment Pass. Each application must pay $100,000 for citizenship. 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. 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. We offer expert consultation advice and assistance. Option A- an investment of at least SGD 2.5 million in a new business entity or expansion of an existing business operation. 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. Citizenship After two years of Permanent Residence, you may be eligible to apply for citizenship under the … Usually foreign-source income is not taxed, provided that it is not remitted to Singapore. representations or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents of Other countries offer a route to citizenship following a reasonable period of residence, such as Australia, Canada, Greece, Portugal, Singapore… Foreigners must invest EUR 250,000 in real estate and also donate to government EUR 100,000. We disclaim any warranties expressed or implied, merchantability, or fitness for any particular purpose. The GIP offers two investment options: 1. Singapore stands out as a low tax jurisdiction. We shall in no event be held liable for any loss or other damages, including but not limited to special, incidental, Additionally, Singapore is one of the world’s most peaceful countries, has zero net debt, and is the second freest economy on earth. by Investment Foreign applicants are granted the right to receive Singapore citizenship after living in the country for 2 years with the resident status. Immigration through Investment to Singapore. 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. Singapore has a liberal tax system and in recent years has leveraged tax regulations to favour foreign investors. 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. Singapore boasts excellent infrastructure, including telecommunications and public services and is considered the pearl of the East. For more information complete a citizenship enquiry form, Read the introduction to Economic Citizenships ». Under the PTS, an applicant may include their spouse and unmarried children less than 21 years of age in the permanent residence application. Key Additional Documents. A valid REP is necessary whenever the PR wishes to travel in and out of Singapore. •  In 2008, a one-tier system of taxation was introduced providing for the exemption of income tax on dividends, regardless of payment method. There are downsides, however. All applications and documents are to be submitted online via the MyICA e-service using a SingPass account.. Singapore's taxation system functions on a jurisdictional basis, only local income earned from within Singapore is taxable. 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. 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 […] You will need to have a substantial business track record and successful entrepreneurial background to qualify. QUALIFICATIONS. This multicultural diversity is reflected in the four official languages of the country: English, Chinese, Malay and Tamil. The permanent residency or the Immigrant Investors program in Singapore is known as the ‘Global Investor Program (GIP) of Singapore’. Its population is about 5.5 million, of which about 75 percent are Chinese, with the rest being Malay, Indian or Eurasian minorities. If you wish to receive a legal opinion or tax advice 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. •  If the company of the investor is in the real estate or construction-related industry, the company's turnover must be at least SGD 200 million in the most recent year and at least SGD 200 million per annum on average for the last three years. on the matter(s) in this website please contact our offices and we will refer you to an appropriate legal practitioner. A Singaporean citizen is considered a tax resident if the individual normally resides in Singapore. This status is valid for 6 months. This particular scheme, officially known as Global Investor Programme (GIP Scheme), is often referred to as the Investor Scheme. 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. •  Capital gains taxes are only applied in limited situations. As is with any other country, becoming a citizen of Singapore also has its pros and cons. 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 Visa-free travel to more than 100 countries, including Hong Kong, Singapore, the UK, and Europe’s Schengen Area. The Immigration and Checkpoints Authority (ICA) administers the registration of Singapore citizenship. 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. 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. 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 Thank you. 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). So in total Montenegro will require EUR 350,000plus other fees and investors issued permanent residence within a month and citizenship within 6 months. Regarding the investment, you must be able to invest a minimum of 2.5 million SGD in a Singapore-based company. The benefits of second citizenship by investment range from security, global mobility, education, and business. Citizenship After two years of Permanent Residence, you may be eligible to apply for citizenship under the … The contents of this website are just for illustrative purposes and are NOT to be We specialize in international citizenship and provide bespoke investment services. We will get back to you shortly to better assess your unique situation and find solutions. •  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. 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 is an island country 137 km north of the equator. Upon the granting of the PR status, the investor will be issued a Re-Entry Permit (REP). Singapore is the world’s fourth leading financial centre and a cosmopolitan world city, playing a key role in international trade and finance. associated company, is not engaged in the practice of law or tax. 04. 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. Non-residents income is subject to a flat tax rate of 22%. Singapore is politically and economically stable and has extensive and highly valued education and healthcare systems. However, to get started, you apply for the global investor program in Singapore. 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. 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