- March 2, 2023
- Posted by: admin
- Category: Daily News
- Singapore is increasing the threshold for global investors seeking permanent-resident status in an attempt to create more jobs and benefit locals due to an influx of wealth.
- Applicants will need at least SGD10mn (USD7.4mn) in a business or SGD25mn in an approved fund, the Singapore Economic Development Board said in a statement 2 Mar.
- For those establishing family offices, at least SGD50mn must be deployed and maintained in four government-designated investment categories.
- That compares with a previous requirement of a SGD2.5mn investment in a business entity, fund or Singapore-based single family office. The changes take effect from 15 Mar.