PERMANENT RESIDENCY AND INVESTMENT SCHEMES
Singapore pursues foreign investments as part of its overall economic strategy and strongly welcomes foreign talents and high net-worth individuals to the country.
Its legal framework and public policies are favourable towards foreign investors. Foreign investors are not required to enter into joint ventures with local institutions, and they are subject to the same basic laws as a local company. There are no restrictions on reinvestments or repatriation of earnings or capital.
Singapore has a low tax regime that is attractive to investors and high net-worth individuals. Since February 2008, the Inheritance Tax has been abolished, making Singapore an attractive place to build wealth.
The Government of Singapore provides various incentives schemes for foreign investors:
- The Global Investor Programme (GIP) is an initiative by Economic Development Board (EDB) to assist foreign investors and entrepreneurs to set up business in Singapore. It provides links to local business networks and a range of immigration facilitation. More information is available at www.edb.gov.sg.
- Contact Singapore, an alliance of EDB and the Ministry of Manpower, serves as a one-stop centre for global talents who wish to work, invest and live in Singapore. With offices worldwide, it actively links Singapore-based employers with global talents and provides updates on career opportunities in Singapore. Contact Singapore also works with private sector partners to facilitate the flow of potential investors to Singapore. More information is available at www.contactsingapore.sg.