Singapore Immigration
HOW TO IMMIGRATE TO SINGAPORE
There are three types of work visas available in Singapore.
Work Permit
S Pass
Employment Pass
The Employment Pass (EP) is the highest level of the three types of work permits. It is a work permit for foreign professionals (shareholders, management, supervisors or professional positions) set by the Ministry of Manpower. After holding an EP for 6 months, you can apply for permanent residence in Singapore.
EMPLOYMENT PASS （ 2 years for the first time, 3 years for renewal, with multiple renewals until PR is applied for ）
Have a job offer in Singapore
Work in a managerial, executive or specialised job
Have acceptable qualifications, usually a good university degree, professional qualifications or specialised skills.
Earn a fixed monthly salary of at least $4,500 (older candidates need higher salaries to qualify)
Over S$6,000 per month can sponsor spouse and unmarried children under 21 years old (DP), over S$12,000 per month can sponsor parents (LTVP)
EP RECOMMENDED BUSINESS-ASSA STAR Ice-cream Stores
The main focus is on freshly squeezed juices, featuring low-fat sundaes for a healthy and trendy attitude to life.
Located in the tropics, Singapore has a year-round demand for cold beverages and is in line with the low sugar advocated by the Singapore government.
SECTION 13O
Section 13O funds are now required to have a minimum of S$10m under management at the point of application for the incentive, and to commit to increasing this to S$20m within 2 years. As noted above, an AUM minimum only previously applied to section 13U funds.
The family office must have a minimum of 2 investment professionals (‘IPs’), but may be given a 1 year grace period to employ the second IP. Currently, there is no prescribed minimum number of employees for the SFO. Although it is not expressly stated in the guidelines, it is quite possible that the MAS may be more stringent in assessing the academic and professional experience of proposed IPs – whether they are family members or unrelated persons.
The absolute minimum total business spending annually remains at S$200,000, but this is subject to a new ‘tiered business spending framework’ pegged to AUM size (see below).）
SECTION 13U
The existing minimum fund size of S$50m at the point of application is unchanged.
The family office must have at least 3 IPs, with at least one IP being a non-family member. A grace period of 1 year may be given for the non-family member IP. The requirement for at least 1 non-family member to be an IP is new.
The absolute minimum local business spending annually is raised to S$500,000 (from S$200,000) in any basis period, and is also subject to a new ‘tiered business spending framework’ pegged to AUM size (see below).