As one of the most prosperous and stable countries in the world, Singapore offers a highly coveted passport that grants visa-free access to over 190 countries. For investors looking to obtain this sought-after document, there are several options available.
Here’s a step-by-step guide on how to get a Singapore passport by investment:
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Understand the Eligibility Requirements
Singapore offers citizenship by investment through its Global Investor Programme (GIP). To be eligible for the program, you must be an accredited investor with a minimum net worth of SGD 2 million or a business owner with a turnover of at least SGD 200 million.
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Choose an Approved Investment Option
The GIP allows investors to choose from several approved investment options, including starting or investing in a new business, investing in an existing business, or investing in a Singapore-based fund that invests in companies operating in strategic sectors.
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Prepare Your Application
Once you have chosen your investment option, you will need to submit your application to the Economic Development Board (EDB). The application must include a detailed business plan, financial statements, and other supporting documents.
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Undergo Due Diligence
As part of the application process, you will need to undergo a thorough due diligence review to ensure that your investment is legitimate and complies with Singapore’s regulations.
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Receive Approval
If your application is approved, you will receive an Approval in Principle (AIP) letter from the EDB. You will then have six months to complete your investment and provide the EDB with proof of your investment.
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Obtain Permanent Residency
Once you have completed your investment and provided the EDB with proof of your investment, you will be granted permanent residency in Singapore.
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Apply for Citizenship
After two years of being a permanent resident, you can apply for citizenship. You will need to meet certain requirements, including a minimum stay of 183 days per year and passing a citizenship test.
In conclusion, obtaining a Singapore passport through investment requires a significant amount of capital and due diligence. However, for investors looking for a stable and prosperous country to call home, it can be a highly attractive option.
