PERMANENT RESIDENCE

The procedure to gain permanent residence under the global investor program (CIP) takes a considerable length of time. The applicant must submit a personal profile via an e- application form (with hard copies also compiled and sent), and is then required to attend an interview, usually within two to four months of submission of the application. If all the criteria are met an approval in principle is issued and is valid for a six month period, during which the application must make the requisite investment under the chosen investment option and submit documentary proof of such

INVESTMENT OPTIONS

The GIP offers two investment options:

Option A: an investment of at least SCD 2.5 million in a new business entity or expansion of an existing business operation.

Options B: an investment for SGD 2.5 million in one of the CIP-approved funds.

Once a final approval letter is issued, the applicant is requires to formalize his or her permanent residence status within 12 months of the date of the letter, all of which makes for a lengthy process. After two years of permanent residence is Singapore, it is possible to apply for citizenship.

CITIZENSHIP

However, Singapore is a strictly single-citizenship country and each applicant must relinquish all existing citizenship before naturalization is possible. Also, all male Singapore citizens and permanent resident are obliged to participate in the countries compulsory two year national service.