Everything You Need to Know About Singapore Permanent Resident (PR) Application

Singapore has continuously been regarded as one of the best countries in the world for living standards.

Healthcare, crime rates, educational institutions, infrastructure, housing quality, business prospects, and unemployment rates are all examples of tangibles. Or intangibles like racial peace, a multi-cultural and multi-national society, and access to some of Asia’s most beautiful tourist destinations. Singapore stands out from the crowd!

The city-state has been rightfully dubbed Asia’s business capital and the continent’s best destination to live, work, and play.

As a result, gaining a permanent resident (PR) status in Singapore, which may serve as a bridge to Singapore citizenship, makes sense. Even more so when this PR status comes with Central Provident Fund benefits as well as a variety of personal tax exemptions.

In this article, we’ve included all the information you’ll need when applying for Permanent Resident (PR) status in Singapore:

 

Permanent Resident (PR) Application

 

PR Application Requirements

As a foreigner, you may be eligible to apply PR if you are a/an:

  • 新加坡公民(SC)或新加坡永久居民(PR)配偶
  • 21 岁以下的未婚子女,在合法婚姻的背景下出生,或已被新加坡公民或永久居民合法收养
  • 持有就业通行证或 S Pass
  • 新加坡公民(SC)的父母
  • 新加坡留学学生
  • Foreign investor in Singapore

Note: Factors such as the individual’s family ties to Singaporeans, economic contributions, qualifications, age, family profile and length of residency, to assess the applicant’s ability to contribute to Singapore and integrate into our society, as well as his or her commitment to sinking roots.

Here’s a guide on how you can start applying for Singapore Permanent Resident (PR), Click here.

 

Required Documents (Important)

You must read the explanatory remarks below and submit the appropriate supporting documents stated below via the e-Service if you are a/an:

Spouse of a Singapore citizen or PR, or unmarried child of a Singapore citizen or PR under the age of 21:

Explanatory Notes/Document List for Spouse with/without accompanying child(ren)

Explanatory Notes/Document List 全球移动 Child(ren) Only  

Explanatory Notes/Document List for an Aging Parent of a SC

Explanatory Notes/Document List for Employment Pass or S Pass Holders

Explanatory Notes/Document List for students studying in Singapore.

If you are a foreign investor in Singapore, Go Global Gem can assist you to apply for permanent residence under the Global Investor Programme (GIP). GIP is administered by the Singapore Economic Development Board (EDB).

 

Procedure

The e-Service must be used to submit all permanent residence applications. Applicants have the option of entering their information online or downloading and filling out the PR application form before submitting it online.

You can submit a PR application online if you have a valid Singpass account and you are a:

  • If you are a Singapore citizen or PR filing for PR for your spouse or unmarried kid under the age of 21,
  • You are a Singapore citizen who is applying for permanent residency for your elderly father.
  • Holder of an Employment Pass or S Pass who is filing for PR for themselves, their spouse, or an unmarried kid under the age of 21.

If you are a student studying in Singapore, you can use your Foreign Identification Number (FIN) and the issuance date of your valid immigration pass to access the e-Service.

If you are a foreign investor in Singapore, you can apply for permanent residency under the Global Investor Programme at the Singapore Economic Development Board.

 

Submission of PR fees

Each applicant must pay a non-refundable processing cost of S$100 when submitting a PR application.

Payment options include:

Visa or MasterCard credit/debit card, American Express (AMEX) credit card, Internet Direct Debit (Internet Banking accounts in Singapore), or PayNow.

 

PR Approval

If your application is accepted, you will be required to fulfill PR requirements in our ICA office. Each candidate is responsible for the following fees:

S$20 for Entry Permit

S$50 for 5-Year Re-Entry Permit costs

S$50 for Identity Card

S$30 for each Entry Visa (foreigners requiring a visa).

The fees shown above can be paid using NETS, a credit card (Visa/Mastercard), or a mobile payment.

 

PR Application Processing Time

ICA thoroughly considers and reviews all applications for PR. PR applications typically take six months to process, if all relevant paperwork is presented. Some applications may take more than six months to process, depending on the complexity of the situation.

The outcome will be sent to you via mail or email. Meanwhile, you or your sponsor can use MyICA or the e-Service to check the status of your PR application.

While the application is being processed, there is no need to contact ICA.

(Important) While the current application is being processed, new or repeated applications for the same person(s) will not be allowed.

 

How to Appeal a Rejection of a Singapore PR Application

If your Singapore Permanent Residency application was been rejected, you should file an appeal with the ICA within 30 days of the rejection date (despite the appeal window period being up to 6 months).

It is usually best to complement your appeal letter with relevant supporting documents backing up your appeal claims when submitting an appeal to the Immigration and Checkpoints Authority (ICA) to request a reconsideration of your Permanent Residency application.

It’s best to avoid expressing that you’d like to stay in Singapore because of its cleanliness, decent economy, or other reasons why you appreciate being there. Instead, to make a strong appeal and boost your chances of being reconsidered, you should concentrate your appeal letter on:

1. Activities that demonstrate your integration into Singaporean society

2. Singaporean family relationships (if any)

3. Personal achievements of note

4. Extraordinary contributions to your work

5. Your goals for the future if your application is approved

6. Other aspects that you believe will highlight your assimilation into Singapore

 

Singapore PR Renewal

 

Request/Renew for Re-Entry Permit

 

Renewal Application Eligibility

To apply or renew a Re-Entry Permit, you must be a permanent resident and have a valid travel document that is valid for at least three months.

 

Required Documents & Procedure (Important)

Within three months of its expiration date, you must renew your REP online through e-Service. Unless ICA requests it, you are not needed to submit any documentation.

You can refer to our email on the documents required for your Re-Entry Permit application, as well as instructions on how to upload documents if ICA asks them.

If you are outside of Singapore and do not have a Singpass account, you can apply at the nearest Singapore Overseas Mission. It must be submitted at least two months before the expiration of your current Re-Entry Permit.

 

Renewal Fees

For each year or part of a year, of your granted Re-Entry Permit, you must pay a cost of S$10 (REP).

Each REP given is subject to a separate cost.

If you apply online, you must pay the cost within 14 days of receiving approval, otherwise, your application will be withdrawn. The Re-Entry Permit fee can be paid in these ways:

Visa or MasterCard credit/debit card, American Express (AMEX) credit card, Internet direct debit (Internet banking accounts in Singapore: DBS/POSB, OCBC, UOB, and Standard Chartered Bank), PayNow

Payment can also be made over the counter at ICA using the following methods:

NETS, Visa or MasterCard credit/debit card, mobile payment (Apple Pay, Samsung Pay, Google Pay, etc.)

 

Renewal Processing Time

The average processing period for a Re-Entry Permit (REP) application is one week (excluding the day of submission). Some applications may take longer to process than others.

If you applied for a REP online, you can use e-Service to monitor the status of your application. You will be notified of the outcome through email if you provided an email address during the application process.

 

For enquires please reach out to us:

Email: info@goglobalgem.com

 

Credits: 

ICA: https://www.ica.gov.sg/reside/PR/apply

Company B establishes international headquarters in Singapore to accelerate its global diversification process

Company B establishes international headquarters in Singapore to accelerate its global diversification process

Singapore, the headquarters capital of major international companies. It is said that there are more than 7000 transnational enterprises have set up operations in Singapore. Of these, more than 4200 companies have established their regional headquarters in Singapore.

There are some Fortune 500 companies such as Rolls-Royce, Johnson and General Motors, and some other well-known companies such as Alipay, Tik Tok, and even China’s largest water company , Beijing Water Group, have established its international headquarters in Singapore.

Company B, a famous video website platform in China, has set up international headquarters in Singapore successfully and accelerated the process of global diversification of company’s business with the full help of Go Global Gem.

image from pixabay  website

 

① Advantages of the Singapore IHQ

It is said that one-third of the Fortune 500 companies have chosen to set up their international or regional headquarters in Singapore. Why so many international companies choose to set up their headquarters in Singapore?

Now,  Singapore has signed 27 bilateral free trade agreements or economic and trade cooperation agreements, 103 agreements on avoidance of double taxation and more than 40 investment protection agreements, which give head companies multinational operations in Singapore tax advantages. Some of the more famous ones are the Singapore International Headquarters (IHQ) and Singapore Regional Headquarters (RHQ).

Singapore Development and Expansion Incentive Under the International Headquarters Award (IHQ-DEI) aims to encourage companies to develop their capabilities, and to carry out new or expand economic programs in Singapore. Singapore is a global or regional headquarters  for companies to manage, coordinate and control business activities.

Companies that are successfully approved for the IHQ-DEI are qualified to get tax exemption or concessionary tax rates of 5% or 10% respectively, with the corporate tax exemption or concessionary tax rate applying to income from headquarter functional activities. How to develop international markets through the tax benefits of the Singapore IHQ? For companies that are ready to make significant investments in economic contributions or global capacity enhancement in leading industries, they can apply for IHQ-DEI.

 

② International headquarters established to accelerate global diversification

1、Successful adoption of the IHQ

Company B is an iconic brand and leading video platform for the younger generation in China. Combining people and the world in an intuitive, vivid and informative way, video has quickly become a major medium for communication, entertainment and information.

 

Company B refers to the trend of integrating video into various daily scenarios as videoization. According to a report by Avery Consulting, by 2025, there will be more than 1180.2 million video users in China, creating a market revenue of more than RMB 1.8 trillion.

Singapore is strategically located and has a pro-business market environment with a globally connected economy. Moreover, IHQ incentives are extremely attractive to companies wishing to explore international markets. After a comprehensive assessment, Company B chose to set up its international headquarters in Singapore. With the full assistance of Go Global Gem , Company B was successfully approved for the IHQ-DEI, adding speed to its global diversification process.

image from pixabay  website

 

2、Expansion of overseas business actively

As the video platform of choice for the younger generation, Company B will capture the huge market brought about by the videoization era, which supports a wide range of video content consumption scenarios, focusing on professional user-generated videos (PUGV), complemented by live and professional organization-generated videos (OGV). Currently, Company B has become a home for fans of diverse cultures and interests.

After being successfully approved for the IHQ, Company B has also applied to the Economic Development Board of Singapore for the Tech@SG scheme to apply for EP passes for a portion of its staff to work in Singapore to ensure stable overseas company operations. At the same time, Company B is also actively applying for the Singapore Global Investors Programme  (GIP) to explore the global market.

image from pixabay  website

 

3、Singapore IHQ Application Process

With an experienced overseas local team focusing on immigration, taxation, family offices, business relocation, licensing, study abroad and visas, Go Global Gem has tailored a variety of start-up investment solutions for its clients. Currently, a number of strong enterprises have been handled Singapore IHQ business.

If you wish to apply for the Singapore IHQ-DEI for your business, Go Global Gem will follow up and assist you throughout the process. The application process is also simple, as it involves these steps:

Step 1: Preparing the business plan.

Step 2: Arranging a discussion with EDB.

Step 3: Reviewing the client’s completed tax credit application form.

Step 4: Submitting the application form.

Step 5: Assessing the tax credit approval letter.

image from pixabay  website

 

Because of professionalism, Go Global Gem is persistent, dependable and remarkable. More powerful companies and elites choose the Go Global Gem for immigration and going abroad.

 

For enquiries, feel free to contact us:

何家俊
Email: kahchuanho@goglobalgem.com

Things to take note of about Enterprise Development Grant

Things to take note of when applying for the Enterprise Development Grant

It’s been a tough season for businesses all around the world. With the global pandemic, inflation, and geopolitical and climate crisis coming to a head, this perfect storm of events has forced companies to pivot or adapt to the rapidly changing market forces of today. Thankfully, Singapore’s government has been aware of the need for support in these ailing times and has introduced grants such as the Enterprise Development Grant (EDG) to invest in promising firms that need temporary assistance. 

On websites such as Enterprise Singapore, one will find multiple grants available. The Enterprise Development Grant will cover as much as 70% of qualifying costs for SMEs. Two further groups stand to gain stronger subsidies, with Budget 2022 allotting up to 80% for applicants from the Food Services and Retail sectors from 1 Apr 2022 to 31 Mar 2023; and the same for unionised companies and e2i partners under the Labour Movement that promise to work with unions to train workers as part of those looking for job transformation.

The Enterprise Development Grant is best suited for SMEs looking to use the financial subsidies to improve, innovate or expand their reach overseas through three core pillars.

They are:

  • Core Capabilities
  • Innovation and Productivity
  • Market Access

If applicants submit proposals that outline these initiatives vividly, their applications will likely be approved, so it is important to know what these three categories entail.

 

Core capabilities

“Projects under Core Capabilities help businesses prepare for growth and transformation by strengthening their business foundations.” – Enterprise Singapore website

As indicated, the first pillar deals with re-envisioning the fundamentals within the business model itself. The website further clarifies these into 5 areas:

1. Business Strategy Development: Finding intervention through strategies – tapping into areas such as those of research and development, marketing or more to seek out opportunities and strengthen competitiveness.

2. Financial Management: Optimise financial performance through a review of existing investments, while evaluating risk exposures. Also to keep expenditure lean but efficient, with training invested in the most important stewards of the company’s resources.

3. Human Capital Development: Bolster the company’s Human Resource (HR) capabilities – and restructuring if needed – to create more efficient systems that reward and invest in talents to support business growth strategies.

4. Service Excellence: Investigate and improve the company’s service delivery at all touchpoints and find updated alignment with existing customers’ needs.

5. Strategic Brand and Marketing Development: Discover differentiation and well-defined brand levers to better target and convert audiences. Update strategies and deliver better communication through collateral and engagement.

 

Innovation and productivity

“Projects under Innovation and Productivity support companies that explore new areas of growth, or look for ways to enhance efficiency, or optimise resource usage to improve their sustainability performance. Companies could also tap into automation and technologies to make routine tasks more efficient and sustainable.” – Enterprise Singapore website

Digital transformation has been one of the key solutions to tide over – and in some cases excel in – these challenging years. Understanding that these innovations require significant capital, the Enterprise Development Grant defrays the cost of procurement and implementation in these 3 areas:

1. Process redesign: Evaluating the existing workflows and processes to identify areas of implementation, so as to enhance productivity and efficient resource use. 

2. Automation: Drive productivity and growth through implementation of automation in processes; streamlining workflows and gaining deeper insights.

3. Product development: Help businesses to discover market viability and develop an effective commercialisation plan.

 

Market access

“Projects under Market Access support Singapore companies that are willing and ready to venture overseas. You may tap into the EDG to help defray some of the costs of expanding into overseas markets.” – Enterprise Singapore website

As outlined, this segment applies to those companies seeking to expand out of Singapore. The primary 3 areas this grant can help look into are:

Mergers and Acquisitions (M&A): Finding expansion through M&A, including resources to help in the assessment (such as feasibility studies and valuations) to post-merger integrations and documentation.

Pilot Project and Test Bedding: Building a solid track record to allow for a more credible and easier expansion into new geography and markets.

Standards Adoption: Ease businesses into adopting internationally-recognised standards and certifications in new or existing key industries, to enhance native competitiveness, minimise legal complications and gain faster market reach.

Note: A fifth area, Overseas Marketing Presence, has since been removed from this list and been given its own grant under the Market Readiness Assistance (MRA) Grant.

 

Eligibility

To apply for the Enterprise Development Grant, businesses will also need to be of the following criteria to be eligible for the subsidy:

  • Be a business entity registered and have at least one operation in Singapore.
  • Have a minimum of 30% in local shareholding.
  • Justify the financial viability of the project to assure its full completion.

With these criteria met and a sound proposal submitted, the Enterprise Development Grant

Promises to fund qualifying project costs include (but are not limited to) third-party consultancy fees, software and equipment, and internal workforce cost.

All applications will be assessed by Enterprise Singapore, and factors such as the project scope, its outcomes and an evaluation of the competency of the service provider will be considered before the final outcome. In some cases, businesses who wish to assure themselves of effective documentation and project viability can consult with firms such as Go Global Gem as advisory and administrative partners to enhance their applications. The experienced agencies will highlight lesser-known factors (such as additional subsidies for employers eligible for SkillsFuture Enterprise Credits) or indicate critical areas that require supporting documentation.

But as long as applicants can provide solid presentations and projects under the three pillars indicated above, the Enterprise Development Grant is well worth the effort to give your business the step up in much-needed funding.

Start your business on the right foot and find your trusted expansion partner with 全球出海宝.

Amendments to Hong Kong’s Foreign-sourced Income Exemption Regime under Consultation

Amendments to Hong Kong’s Foreign-sourced Income Exemption Regime under Consultation

In June 2022, the Hong Kong SAR (HKSAR) government released a consultation paper proposing amendments to the foreign-sourced income exemption (FSIE) regime for passive income to address European Union’s (EU) concerns of non-taxation of passive income, where the income recipient has no substantial economic activity, highlighted on October 2021. HKSAR commits to amend its tax laws by 31 December 2022 and to be applicable as of 1 January 2023.

Image from unsplash website

 

Under the new proposed new FSIE regime, offshore passive income, including interests, income from Intellectual Properties (IP), dividends and gains from the disposal of shares or equity interests, would be deemed sourced from the HKSAR and deemed taxable if:

• the income received in the HKSAR by a constituent entity of a multi-national enterprise (MNEs)
• the receiving entity fails to meet the economic substance requirement for non-IP passive income or fails to comply with the nexus approach for IP passive income

In-scope offshore passive income would continue to be exempt from tax if certain conditions are met.

 

For enquiries, feel free to contact us:

何家俊
Email: kahchuanho@goglobalgem.com

Success case on the IHQ-DEI programme – Company C

Success case on the IHQ-DEI programme – Company C

Recently, with the help of Go Global Gem, Company C has successfully started on their Singapore “Headquarters Project Plan” through the approval of Singapore Economic Development Board (EDB) to  explore new markets and businesses.

 

1. What is the International Headquarters Development and Expansion Incentive (IHQ-DEI)?

IHQ-DEI is a Development and Expansion Incentive Under the International Headquarters Award, also known as the  Singapore ‘Headquarters Project’.

The Development and Expansion Incentive (DEI) aims to encourage companies to grow capabilities and conduct new or expanded economic activities in Singapore. Companies that conduct global or regional headquarters (HQ) activities of managing, coordinating, and controlling business activities for a group of companies may also apply for the DEI for the HQ activities. The Singapore Economic Development Board (EDB) administers the incentive.

The image from pexels  website

 

2. Artificial Intelligence (AI) + High Efficiency Computing and Two-wheel Drive

Company C is a chip design company, with “blockchain + AI” as its diversified business strategy, positioned in the new digital infrastructure and computing power, and with “enhancing social operation efficiency and improving human lifestyle” as its development vision.

Company C is one of the few companies in the world that have accumulated advanced technology in the ASIC design process. The company’s R&D centers are located in Beijing, Hangzhou, Shanghai and Shenzhen, China. Company C sets up a high efficiency computing department and an artificial intelligence (AI) business group, “AI + High Efficiency Computing” and “Two-wheel Drive”, where they build  the core computing engine for the new digital infrastructure.

In the process of enterprise development, Company C will further realize business diversification and explore new markets around the world. Through in-depth investigation and analysis,  company C decided to develop new business in Singapore.

According to the business development needs of  Company C, Go Global Gem has formulated a very suitable plan for  them. With Go Global Gem’s active follow ups on the entire submission process such as material preparation and liaising, on 29th April 2022, Company C has successfully gotten Singapore EDB approval!

Image/Company C has successfully passed the IHQ-DEI, any pirated act will be subjected to investigation.

 

3. What are the advantages of the DEI?

Companies approved under DEI are eligible for a corporate tax exemption or preferential tax rate of 5% or 10% respectively, on income derived from qualifying activities.

Companies which are prepared to make significant investments in economic contribution or capacity improvement in global leading industries can apply for DEI. DEI awards may also be accompanied by international headquarters, command and Command award status for companies committed to substantive command activities in Singapore to manage, coordinate and control regional operations.

The image from pexels  website

 

4. How does IHQ work?

Tax at a concessionary rate of 10% would be imposed on your entity’s qualifying income in excess of the base income. The qualifying income shall be income derived from the qualifying activities.

Qualifying headquarter activities only include the following:

• Management, coordination and control functions of business activities for the group
• Sourcing and procurement
• Supply chain management
• Marketing control and planning
• Human resource management
• Provision of legal services
• Provision of finance services
• Provision of brand management services

The base as well as non-qualifying income would be taxed at the normal corporate tax rate. Any loss (i.e. unabsorbed allowances, losses or donations) arising from qualifying activities would be treated as concessionary rate loss for the purpose of applying Section 37A of the Income Tax Act.

5. Application Process
The DEI application process is as follows:
Step 1. Preparation of Business Plan
Step 2. Arrange for a consultation with the EDB
Step 3. Review incentive application form
Step 4. Submit the application form
Step 5. Evaluate of draft incentive approval letter and review of final letter

The image from pexels  website

Go Global Gem has a team of professionals that specialise in this area of expertise. The company has a track record of working on a variety of capital investment programmes and global business planning for a number of enterprises.

 

If you would like to know more, please consult our business manager.

For enquires:
Desmond Chew
desmondchew@goglobalgem.com