The conditions for applying for permanent residency in Singapore are becoming increasingly stringent. Recently, a local resident expressed his opinion, stating, "The government should make the PR standards stricter." What has caused this individual to be so indignant?
It turns out that there are now many foreign workers in Singapore, and many locals feel that they are taking away their jobs by lowering their salaries to increase competitiveness, making the competition unfair. This individual also mentioned that PR should not be made so cheap, as once foreigners obtain PR, it becomes easier for them to find jobs, thus increasing the employment pressure on locals.
Indeed, this viewpoint may not be entirely correct; however, local residents in Singapore should also realize that foreign workers have become an important part of Singaporean society. If the government simply raises the application standards for PR, will it truly increase the competitive pressure on locals?
However, with such strong public sentiment, the conditions for obtaining permanent residency through various visas may indeed rise!
Do you remember the recent collective rejection of 500 Employment Pass applications? In fact, whether it is for skilled immigration, entrepreneurial immigration, or investment immigration, the ultimate goal is to obtain status, become a permanent resident, or even acquire citizenship.
Regardless of whether it is skilled or entrepreneurial immigration, what is obtained is a permit, and one must meet the corresponding conditions to convert it into permanent residency. Without going through the proper channels and applying as required, one may end up not obtaining even a permit or visa, let alone discussing the conversion to permanent residency.
So, is there a way to directly obtain permanent residency in one step?
Currently, Singapore has only one immigration program that allows for direct permanent residency, which is the Global Investor Program (GIP) initiated by the Economic Development Board (EDB) of Singapore.
This program aims to attract entrepreneurs to invest and develop businesses in Singapore, and the requirements set by the EDB for entrepreneurs are not high.
Application Conditions
◆ The company must be established for more than 3 years, with a registered capital of over 1 million RMB;
◆ The main applicant must hold more than 30% of the shares;
◆ The industry of the company must be outside of real estate, construction, and automotive sectors;
◆ The company's revenue must meet the requirements of the immigration bureau.