Cost of Singapore Citizenship.

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An honorable member of the Coffee Shop Has Just Posted the Following:

Can you really put a price on citizenship? A few years ago, I would have laughed at such a question. Maybe that’s because I view citizenship as one of the few possessions that you can’t put a price tag on. It’s like asking someone, “how much is your family name worth?” or “how much is your son worth?”

You can’t put a number on it because it’s not for sale.

Perhaps I feel that way about citizenship because like most of you, I’ve paid for it with years of hard military service. But guess what? Citizenship does have a price tag in many countries – including Singapore.


For Sale: Economic Citizenship

Many countries have “economic citizenship” programs that extend citizenship to foreigners who “invest” or “donate” a considerable sum to the nation – ranging from $130,000 to several million dollars. This is done by investing in property, government-approved funds, founding a new business that hires X number of citizens, locating your expanding company there, etc.

Of course, residency requirements for citizenship vary between nations. Some grant citizenship immediately after an application is approved, while others require a few years residency before they’re granted citizenship.

Donation, investment, expansion – semantics aside, here’s how much money must be paid to get economic citizenship:


1. Singapore – Price: $2,500,000

What else could I tell you about Singapore that you don’t already know? It’s a global technology and banking hub that’s already being called the “new” Switzerland by investors from around the world. It’s also seen as a prime location for many companies looking to establish a presence in Southeast Asia.
The fast track to Singapore citizenship lies through the Economic Development Board’s Global Investor Program. Through the program, you get instant PR status. And within 2 years you can apply for citizenship.

Benefits of Citizenship:

Tax Haven: There are no wealth taxes (capital gains, inheritance tax, etc.).
Visa-Free Travel: Travel to 167 countries worldwide.
Easier to Buy Property: Citizens notably have fewer restrictions to buying multiple properties in Singapore’s hot property market than PRs and foreigners do.
VERY Business Friendly Nation: Unlike other nations, you can start a business in only a few days in Singapore, leading many to call it the most business friendly nation in the world.
Lower Taxes: Taxes for high wealth individuals (20% flat tax) and companies (17% flat tax) are lower than most industrialized nations.

Waiting Time for Citizenship: After waiting up to 3 months for approval to join the Global Investor Program (and $2.5 million dollars), you’ll be awarded PR status. After two years of residency, you can then apply for citizenship.

Residency Requirement: Yes. Upon granting of your PR, you’ll be given a Re-Entry Permit that’s valid for 5 years so you can retain your PR. But you must either set up a business in Singapore with 5 Singaporean employees or you must reside in Singapore at least 6 months out of the year.

Military Service Requirement: No. PRs under the Global Investor Program are exempt from serving NS (what’s up with that?!).

http://sg.finance.yahoo.com/news/thi...160000979.html


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