Singapore

Permanent Residency

Why choose SIngapore?

Migrating to Singapore offers economic prosperity, a stable and secure environment, world-class education, and healthcare systems, while embracing cultural diversity. With a low crime rate, impeccable infrastructure, and abundant green spaces, Singapore ensures an excellent quality of life. Its low personal income tax and robust social safety nets are appealing. English proficiency, a strategic Southeast Asian location, and various residency options make it an ideal destination for professionals and entrepreneurs. Singapore's political stability, strong governance, and multilingual society further enhance its allure for those seeking a thriving and dynamic international lifestyle.

Self-Employed Immigration

The two primary self-employed immigration schemes in Singapore are the EntrePass and the Permanent Residence (PR) scheme for entrepreneurs. Here's an overview of these options:

EntrePass:

The EntrePass is designed for foreign entrepreneurs who want to start and operate a business in Singapore.
To be eligible for an EntrePass, you need to have a viable business plan and fulfill specific criteria related to your business idea, financial capabilities, and the potential to contribute to the local economy.
The EntrePass allows you to establish and manage your own business in Singapore, and it is typically issued for an initial period of one year, with the possibility of renewal.

Self-Employed Immigration

Permanent Residence (PR) Scheme for Entrepreneurs:

While the EntrePass allows you to run a business, obtaining permanent residency is a more long-term goal. Singapore offers PR opportunities to entrepreneurs who have made substantial contributions to the country.
To be eligible for PR as a self-employed individual, you generally need to have a successful track record of running a business in Singapore, demonstrate significant economic contributions, and meet specific criteria set by the Immigration and Checkpoints Authority (ICA).

Tax

Singapore has a relatively straightforward and favorable tax system for immigrants and residents alike. The tax treatment for immigrants depends on their residency status in Singapore. There are two main categories of tax residents in Singapore:

Tax Residents: Individuals who are considered tax residents in Singapore are subject to tax on their worldwide income. Tax residents typically include citizens, permanent residents, and individuals who have spent at least 183 days in Singapore during the calendar year.
Non-Tax Residents: Non-residents are only taxed on income earned in Singapore. This means that if you are a non-resident and your income is generated outside of Singapore, it is not subject to Singaporean income tax.

Here's an overview of the tax system in Singapore:

Personal Income Tax: Singapore employs a progressive tax rate system for personal income tax, with rates ranging from 0% to a maximum of 22%. The exact rates and tax bands may change over time, so it's important to check with the Inland Revenue Authority of Singapore (IRAS) or consult a tax professional for the latest information.
No Capital Gains Tax: Singapore does not impose capital gains tax, which means any gains from the sale of assets such as stocks or property are generally not taxed.
No Inheritance or Estate Tax: Singapore does not have inheritance or estate taxes.
Goods and Services Tax (GST): Singapore levies a Goods and Services Tax (GST) on the supply of goods and services, currently at 7%. This tax is generally paid by consumers at the point of purchase.
Property Tax: Property owners in Singapore are subject to property tax, which varies based on the annual value of the property.

Tax

FAQ

1.What are the different types of visas for immigrating to Singapore?

Singapore offers various visa types, including employment passes, dependent passes, student passes, long-term visit passes, and permanent residency schemes. The specific visa you need depends on your purpose for immigration.

2.What are the eligibility criteria for Permanent Residency (PR) in Singapore?

Eligibility for PR is based on several factors, such as your employment status, length of stay, family ties, and contributions to Singapore's economy. The PR schemes for professionals, investors, and entrepreneurs have different requirements.

3.What are the financial requirements for immigrating to Singapore?

Financial requirements vary depending on the visa or PR scheme. Some visas may require proof of income or investment capital, while PR applications may require a specific amount of assets and contributions to the Singaporean economy.

4.How long does it take to process immigration applications?

Processing times vary depending on the type of application and visa scheme. For example, Employment Pass applications typically take a few weeks, while PR applications may take several months to process.

5.Can I bring my family with me when I immigrate to Singapore?

Yes, many immigration schemes in Singapore allow for the inclusion of eligible family members. Specific requirements and conditions may apply, so it's essential to understand the rules for each visa category.

6.What is the cost of living in Singapore?

The cost of living in Singapore can vary widely depending on lifestyle and housing choices. It's generally considered one of the more expensive cities in Asia, with costs related to housing, education, and healthcare being notable expenses.

7.Is it necessary to learn a local language to live in Singapore?

While Singapore has four official languages (English, Mandarin, Malay, and Tamil), English is widely spoken and used in business, education, and daily life. It is not typically necessary to learn a local language, although learning a few common phrases can be helpful for social integration.