{"id":37193,"date":"2017-07-15T02:23:32","date_gmt":"2017-07-15T06:23:32","guid":{"rendered":"https:\/\/www.escapeartist.com\/?p=37193"},"modified":"2020-08-04T04:13:06","modified_gmt":"2020-08-04T08:13:06","slug":"investing-abroad-in-singapore","status":"publish","type":"post","link":"https:\/\/www.escapeartist.com\/blog\/investing-abroad-in-singapore\/","title":{"rendered":"Investing Abroad in Singapore"},"content":{"rendered":"
For high net worth foreign investors looking to obtain a \u201cGolden Visa\u201d (permanent residency\/citizenship through investment) in Southeast Asia, Singapore should be at the top of your list. <\/span>Singapore\u2019s investment visa, the Global Investor Programme (GIP)<\/b>, allows expat investors to receive immediate permanent residency in the country. <\/span><\/p>\n Singapore is a highly-sought expat destination because of its high quality of life, great weather, low crime rate, strong economic sector, and desirable tax policies. <\/span><\/p>\n Details of the GIP<\/b><\/p>\n Application Process and Requirements<\/b><\/p>\n If starting a business is your investment method of choice in Singapore, there is a certain process you must undergo in order to qualify. After submitting the initial GIP application, you will need to present a 5-year business plan of financial projections and <\/span>meet these projections within your first five years of investment<\/span><\/i>. <\/span><\/p>\n If, instead, you want to invest in an existing company in Singapore, the applicant will need to prove the following:<\/span><\/p>\n Renewing Permanent Residence<\/b><\/p>\n Once you have obtained permanent residency through the Global Investor Programme in Singapore, it is good for five years. There are a few options to choose from as far as maintaining the visa from there. If you would like to renew the PR for a three-year period, you will have to show that either you or a dependent family member <\/span>was living in Singapore for at least 2.5 of the preceding 5 years<\/span>. <\/span><\/p>\n If you want to <\/span>circumvent the in-country requirement<\/span>, the type of investment you make in Singapore will need to be a new business that employs at least five local citizens and incurs at least $740k USD in annual spending. <\/span><\/p>\n Citizenship in Singapore<\/b><\/p>\n If you successfully maintain your permanent residency in Singapore for a minimum of two years, you can apply for Singaporean citizenship. While this may be a desirable option for some, most expat investors in Singapore choose to simply maintain their permanent residency indefinitely. The reason for this is that Singapore is a single-citizenship country, meaning foreign investors will have to renounce their home citizenship to obtain a Singaporean passport. <\/span><\/p>\n Useful Data for Foreign Investors in Singapore<\/b><\/p>\n Singapore\u2019s economy operates in a very highly-developed free market. In fact, the country\u2019s economy was ranked as the most pro-business and the 7th least corrupt. Combine this with very desirable tax policies and the third-highest GDP in the world, and it\u2019s clear why so many foreign nationals are choosing to <\/span>invest abroad in Singapore.<\/span><\/a><\/p>\n Official Languages:<\/span><\/i> English, Malay, Huayu Mandarin, Tamil<\/span><\/p>\n Ethnic Groups:<\/span><\/i> Chinese (74.3%), Malay (13.3%), Indian (9.1%), Other (3.3%)<\/span><\/p>\n Government Type:<\/span><\/i> Unitary Dominant-Party Parliamentary Republic<\/span><\/p>\n Population:<\/span><\/i> 5,607,300<\/span><\/p>\n GDP (nominal):<\/span><\/i> $311.282 billion (total), $55,252 (per capita)<\/span><\/p>\n GDP (PPP): <\/span><\/i>$508.449 billion (total), $90,724 (per capita)<\/span><\/p>\n Currency:<\/span><\/i> Singapore dollar (SGD), equal to $0.735 USD<\/span><\/p>\n Unemployment:<\/span><\/i> 2.2% (2017)<\/a><\/span><\/p>\n Labor Force:<\/span><\/i> 3.66 million<\/span><\/p>\n Main Industries:<\/span><\/i> electronics, chemicals, financial services, oil drilling equipment, petroleum refining, rubber, food and beverages, ship repair, offshore construction, life sciences, entrepot trade<\/span><\/p>\n Exports:<\/span><\/i> machinery and equipment, electronics and telecommunications, pharmaceuticals, and refined petroleum products<\/span><\/p>\n Imports:<\/span><\/i> machinery and equipment, mineral fuels, chemicals, foodstuffs, consumer goods<\/span><\/p>\n Author Bio:<\/i><\/b><\/p>\n Tyler Sorce<\/i><\/b> is an American writer and digital nomad currently living in Lisbon, Portugal. In a past life he was a chef in Manhattan and Paris, follow his travels and favorite dishes on<\/span><\/i> Instagram<\/span><\/i><\/a>. <\/span><\/i><\/p>\n \u201cThe 15 Questions You Should Ask When You Buy Properties Overseas\u201d<\/span><\/p>\n\n
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