You can probably count with one hand the places where you can live better than in Singapore. This high-tech city-state has one of the best life qualities on the planet and is a top financial destination. Living in Singapore is only for the most demanding Mundo readers who are seeking to establish their family office in one of the top destinations of the world while investing in one of the financial Meccas of the Far-East.

Singapore has almost everything a high net worth individual needs to live there, from all the comfort and luxury a place can offer to low taxes and opportunities to thrive economically.

Why should you apply for the residency by investment in Singapore?

-Low taxes: Singapore has a territorial tax system, which means you will only pay taxes over your Singapore-remitted income and if you set your tax residency in Singapore, no other country will be able to claim taxes over your worldwide income. Plus, Singapore is a low-tax jurisdiction with a top income tax of 22%, which is half of the top income tax of many OECD nations.

-Wonderful life quality: Singapore is ranked as the best city to live in Asia in most specialized rankings. You will have any comfort and luxury you want and the city has the most millionaires per capita in the world. It is safe, it has excellent services, and it is a multicultural place where almost everyone speaks English.

-Excellent banking: Singapore offers one of the best banking systems on the planet. Its banks are safe, cutting-edge, and multicurrency. This means keeping your money in a bank in Singapore will help both your asset protection and diversification strategies.

-Connected with the world: Singapore’s Changi Airport is widely considered the best in the world. The airport serves over 100 airlines to almost 400 cities in over 100 countries in the world including many American cities and most major European and Asian destinations. 

-COVID-19 under control: Singapore has been one of the few countries to manage COVID-19 successfully as it has months without significant case surges. The country has not announced 100 cases in one day since mid-August.

-Excellent corporate structures: Singapore has amazing tax breaks for offshore funds, startups, and banks and its flexible legislation makes it a top place for incorporating a company.

-Great investment options for the RBI program: Singapore has some of the most stable funds on the planet, which means that your investment for the residency program will be highly profitable. If you incorporate a business in Singapore, many different business endeavors can succeed on the island, such as fintech, IT, and shipping. Our experts have access to a high tech education business that will also allow you to receive the RBI.

How to receive the RBI

There are three ways to receive the residency by investment in Singapore:

1. By incorporating a corporation and self-running the business in Singapore or creating a new company, at least $2m:

You must submit a five-year business plan with projected employment, expenses, and financial projections. It will be evaluated based on its feasibility, your role, business activities, and the creation of local jobs.

2. By investing in a designated fund in Singapore, at least $2M

Applicants will be evaluated based on their plans in Singapore. This may include details on their potential business activities, total investment, creation of local jobs, etc.

3. By investing in a new or existing Singapore-based family office, at least $2.5M

Your family office should have a total of at least $150 million in assets under management. Offshore assets qualify if at least $37m are held in Singapore.

You must submit a detailed five-year business plan with projected employment and annual finances. The plan will be evaluated based on your role in the family office, its functions, its investment sectors, and asset types.

Eligibility criteria

To qualify for the Global Investor Programme, you must fall under one of the four eligibility criteria:

1. Established business owner:

• At least three years of business track record
• You should be running a company with an annual turnover of at least S$200 million (US$150 million) in the last year and on the average of the last three years.
• If your company is not public, you should have at least 30% of the shares of the company
• Your company must be engaged in one or more of the following industries:

(a) Aerospace Engineering

(b) Alternative Energy/ Clean Technology

(c)Automotive

(d) Chemicals

(e) Consumer Business (e.g. flavors and fragrances, food ingredients, nutrition, home, and personal care)

(f) Electronics

(g) Energy

(h) Engineering Services

(i) Healthcare

(j) Infocomm Products & Services

(k) Logistics & Supply Chain Management

(l) Marine & Offshore Engineering

(m) Media & Entertainment

(n) Medical Technology

(o) Nanotechnology

(p) Natural Resources (e.g. metals, mining, agri-commodities)

(q) Safety & Security

(r) Space

(s) Shipping

(t) Pharmaceuticals & Biotechnology

(u) Precision Engineering

(v) Professional Services e.g. consulting, design

(w) Arts Businesses

(x) Sports Businesses

(y) Family Office & Financial Services

2. Next-generation business owner:

• Your immediate family should have at least 30% or be the largest shareholder of the company you are using to qualify.
• The company annual turnover should be at least $370 million in the last year and an average of $370 million in the last three years
• You must be part of the management team of the company
• Your company must be involved in one or more of the above-mentioned industries

3. Founders of fast-growth companies:

• Be the founder and one of the largest shareholders of a company with a valuation of at least $373m
• Your company must be invested by reputable venture capital
• It must be involved in one of the above-mentioned industries

4. Family office principals:

• You must have at least five years of management or investment track record
• You must have net investable assets of at least $150 million

Application process

1) Submit the application form 

2) Have an interview with the Economic Development Board of Singapore

3) If you meet the criteria, The Immigration & Checkpoints Authority will issue an Approval In Principle (AIP) status, valid for six months

4) You make the necessary investment within the six months of the AIP validity

5) Submit the proof of investment

6) The ICA issues the final approval letter

7) You formalize your permanent residence status

What can we do for you?

In Mundo, we have several years of experience helping high-net-worth individuals and family offices around the world receive residency and citizenship by investment.

In this time, we have built an unmatched network of experts across the world. This includes Singapore, where our experts can help you apply for the Singapore RBI program. They can help you with all application steps, finding feasible investments, and/or establishing your own company/family office.

Contact us for more information.