Asiabizservices Explains On Singapore Permanent Resident Scheme 

Asiabiz Services is a specialist based in Singapore specializing in immigration, incorporation, IT, and finance.

by Ashley Varghese Tuesday, May 03, 2011
There are different ways to apply for a permanent resident status in Singapore, the easiest place to do business for five consecutive years according to International Finance Corporation’s Ease of Doing Business 2011 Report.

Asiabiz Services is a specialist based in Singapore specializing in immigration, incorporation, IT, and finance. In applying for a permanent resident, foreigners may use the schemes such as the Foreign Artistic Talent [FAT], Professional, Technical Personnel and Skilled Worker [PTS], Global Investment Program [GIP], and Financial Investment Program [FIP].

“The foreign artist scheme is a collaborative project of Singapore’s National Arts Council and Immigration and Checkpoints Authority of Singapore for foreigners with exceptional artistic skills in the fields of fine arts, dance, photography, dance music, film, literature, and theatre,” quips Asiabiz.

It adds: “The eligibility requirements include having a substantial experience in the field of specialty, formal training, and established reputation in the home country and in the international community.”

Meanwhile, foreign employees may also become a permanent resident through the PTS scheme. Asiabiz continues: “The most common scheme is the PTS, which enables work visa holders such as the Employment pass, Personalized Employment pass, Entrepreneur pass, and S pass to apply for permanent residents.”

The said scheme also qualifies the family members holding the Dependant pass to submit their application together with the application of the principal work visa holder.

Asiabiz cites the eligibility requirements under such scheme: “Singapore shall assess the applicant’s age, current professional vocation and employment history, salary and financial background, family ties in Singapore, current employer and reputation, and personal interests and pursuits.”

Moving on, investors with large investments may fall into the investors programs. In the Global Investor scheme for example, the investors, their spouses, and children below age 21 may collectively invest in Singapore in two ways.

“In the first option, they may invest a minimum amount of S$2.5 million in a new business entity or expansion of an existing business operation,” says Asiabiz, “and they shall also submit a business proposal or investment plan.”

In the second option, Asiabiz states that the investors may invest a similar minimum amount in any GIP-approved fund. Moreover, the investors should have at least three years entrepreneurial experience with a company earning an average of S$30 million in the past 3 years.

In the Financial Investment program, the investors ought to possess a net personal asset amounting to S$20 million.

About the Publisher:

Asiabizservices offers one-stop business solutions to companies, particularly, those that are managed and owned by foreign investors. Since its inception, Asiabizservices has successfully helped foreign entrepreneurs form a Singapore company. Among its specializations are company setup, corporate services, accounting services, nominee services, company registration, whether as a sole proprietorship, private limited, limited liability partnership; offshore company formation, incorporation of foreign companies either as a branch or subsidiary office, accounting services including payroll preparation and more.

Asiabizservices is the leading provider of Singapore Company Incorporation services and has successfully helped thousands of both local and foreign entrepreneurs incorporate a Singapore Company. It also provides chartered secretarial services.

For more information visit:

AsiaBizServices PTE LTD
Address: 120 Telok Ayer Street Singapore 068589
Phone: +6563034614

0    submitted by Ashley Varghese
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