The Different PR Schemes in Singapore
Every year, thousands of foreigners apply for permanent residency (PR) in Singapore but not all go through the same application process. There are 3 different PR schemes in Singapore.
1. Singapore PR Scheme for Individuals Working in Singapore
This is known as the Professionals/Technical Personnel & Skilled Worker scheme (PTS scheme) is the most assured way of attaining PR in Singapore. The scheme is meant for professionals working in Singapore at the time of application and the key requirement is that applicants must be on a work visa type known as the Employment Pass, Entrepreneur Pass, Personalised Employment Pass or S Pass. A proof of the most recent 6 months’ worth of salary slips must be provided to show that you have been working in the country for at least 6
months.
2. Singapore PR Scheme for Investors
This is also known as the Global Investor Programme (GIP scheme). Under this scheme, applicants can apply for PR for themselves and their immediate families by starting a business in Singapore with a small investment sum of S$2.5M or investing in an established business with a similar sum.
The GIP scheme provided 2 options for investments.
(A) Investing at least S$2.5M in a new business or an expansion of an existing business.
(B) Investing at least S$2.5M in a GIP-approved fund.
Apart from the investment sum, applicants must also hold a good business track record, an entrepreneurial background and have a business proposal or investment plan.
3. Singapore PR Scheme for Foreign Artistic Talent
This scheme is meant for applicants who possess artistic skills in the areas of dance, entertainment, photography etc. To qualify for this scheme, applicants must be well-recognised within their own country with an international reputation. Applicants must also have contributed significantly to the Singapore arts and cultural scene including a strong track record of local engagements at leadership level and concrete plans to be involved in the arts and cultural sector.
The government welcomes people from all diverse backgrounds who are able to contribute significantly to our economy. These schemes cater to different individuals with different strengths.
