Singapore has come a long way since it gained its independence years ago. Moreover, the city-state is now the fourth largest financial center in the world which is why it attracts a great number of foreigners moving here for different reasons.
While some people come here with the purpose of doing business and open a Singapore company, others move in order to work here and decide not to leave. For those who want to permanently live in Singapore, the government gives the possibility of becoming citizens of this country.
Foreign individuals who want to obtain a Singapore citizenship must be permanent residents of this country for 2 years, which is a relatively low period compared to other countries. Citizenship by investment is also possible in Singapore.
Our Singapore company formation specialists can explain the citizenship by investment program.
There are four ways in which a foreign citizen can obtain a Singapore passport:
Spouses of Singapore citizens who have a residence permit for at least 2 years also have the right to obtain Singapore citizenship.
Our company formation agents in Singapore can offer more information on the requirements related to becoming a citizen of the Lion City in 2021.
The first thing to do before applying for a Singapore passport is for the applicant to check the eligibility criteria with the Immigration and Checkpoints Authority (ICA). Our experts in company formation in Singapore present the documents which must be submitted with ICA when applying for Singapore citizenship:
Following that the applicant will have an interview with the ICA representatives. Also, the Singapore citizenship application could take up to 12 months to be processed. It should be noted that Singapore does not allow for dual citizenship.
Those who want to obtain citizenship in Singapore in 2021 can apply for the permanent residence permit under the Global Investor Program which implies investing at least 2,5 million SGD or starting a business. The investor must have at least 3 years of experience in a managment position.
There is also the possibilty of relocating a company, however, it must have an annual turnover of at least 50 million SGD in the previous year.
If you are interested in applying for Singapore citizenship in 2021, our agents are at your service for a complete guide.
Our Singapore company formation advisors can explain the procedure for obtaining citizenship in the city-state. You can also contact us if you want to start a business in Singapore.