2010 was a year of significant changes in investment immigration policies across various countries. Shortly after the introduction of the Australian business immigration "4.19 New Policy," the Canadian investment immigration "6.26 New Policy" followed. The adjusted new policies for business immigration in these countries have significantly increased the requirements for applicants' domestic assets and investments. At the same time, requirements regarding the source of funds and corporate documentation have become increasingly stringent, leaving many prospective immigrants feeling overwhelmed.
In recent years, the popular Singapore investment immigration program is also facing a major price hike. It is reported that the Worldway immigration agency has received news of the Singapore investment immigration price increase through various channels, with the new policy expected to be announced at the end of August.
Changes
Singapore Immigration
Investment immigration threshold to rise to 2.5 million
The new policy may include the following changes:
1、Starting from January 2011, the threshold for Singapore investment immigration will rise to 2.5 million Singapore dollars; investors who complete their application submission before December 31, 2010, will still be subject to the 1.5 million standard;
2、For immigration applications submitted after October 2010, the annual turnover requirement for the applicant's company will increase from the current 10 million Singapore dollars to 30 million Singapore dollars per year;
3、The investment category allowing the purchase of real estate in the original Singapore investment immigration program will be cancelled.
Worldway immigration agency analyzes that the Singapore government, which is striving to build a "paradise for the wealthy," is raising the immigration threshold again. This seems to indicate that the budding and honeymoon periods of Singapore investment immigration have passed and it has now entered a mature phase. Once the new policy is implemented, a number of investors will inevitably be blocked from entering Singapore.
Singapore Immigration
Investment funds are the most popular
Since July 2005, Singapore has launched the "Global Investor Programme" (GIP), aimed at attracting overseas investors, entrepreneurs, and business management talent to invest and start businesses in Singapore. Qualified applicants who complete their investment will have their entire family granted permanent residency in Singapore (commonly known as a "Green Card").
The program is divided into three investment methods: investing 1 million Singapore dollars to set up a new company in Singapore and conduct business for five years; investing 1.5 million Singapore dollars in a closed-end investment fund approved by the Singapore government, which will be returned after five years based on earnings; and investing 2 million Singapore dollars in a closed-end investment fund approved by the Singapore government and purchasing private real estate.
Among the three investment models, the 1.5 million Singapore dollar option is the most popular. With its advantages of stable investment returns, fast processing cycle, simple documentation, high approval rate, and no residency requirements, this project has been favored by many domestic entrepreneurs since its launch and has been heating up in recent years.
Reasons for the price hike
The number of investment immigrants has grown exponentially in recent years
Worldway immigration experts analyze that in recent years, Singapore immigration has been favored by many successful business people. Looking at the entire immigration program, Singapore is one of the countries with the highest density of wealthy individuals. The reason Singapore immigration is preferred lies in its special tax system. The Singapore tax system is simple, the tax rate is very low, and global income earned outside of Singapore by citizens and permanent residents is tax-exempt, making it a true paradise for the wealthy. In addition, applying for Singapore investment immigration has relatively loose requirements for explaining the source of domestic funds.
Especially after the 2008 global financial crisis, the relatively stable investment method of Singapore investment immigration has swept the attention of high-net-worth individuals. As news of major entertainment stars like Jet Li and Gong Li immigrating to Singapore continues to spread, it has pushed the attention of this beautiful tropical island to a new height. It is understood that in the past two years, the number of Singapore investment immigrants has grown exponentially, naturally forming a "rising tide lifts all boats" trend.
Apply now
Fulfill the investment by the second half of next year at the latest
There is less than four months left until the implementation of the new policy, and applicants currently in the process will not be affected. Fortunately, the application materials for Singapore immigration are relatively simple, and professional immigration agencies can usually prepare and submit a full set of client application materials in less than a month. Investors who are interested in applying for Singapore immigration but have not yet raised the investment funds can also rest assured, as the Singapore Economic Development Board (EDB) usually uses the policy standards in effect at the time the formal immigration application is received. According to the Singapore immigration procedure, investors will complete their investment obligations within six months after receiving the principle approval from the Singapore Economic Development Board. Therefore, those who apply now can fulfill their investment by the second half of next year at the latest.
Worldway immigration agency also reminds all applicants not to blindly follow the trend due to the price hike. However, once the decision to implement the plan is made, it is better to act sooner rather than later. Starting this week (August 9th - August 31st), Worldway is implementing a Singapore investment immigration promotional month event. Applicants who process their Singapore immigration during this period can receive super-value discounts. We welcome everyone to act quickly!
