How to move to live in Singapore.
Moving to Singapore is a cherished desire of many foreigners. The country has a short history. At the same time, living on its territory has a number of advantages. High economic growth, favorable tax policy, developed health care and education led to a significant influx of migrants. Immigration to Singapore is a widespread phenomenon. Here, loyal conditions of life and work for foreigners are offered. Compliance with local laws will give the right to apply for the status of a citizen of Singapore.
Reasons to move to Singapore.
Foreigners who decide to leave for the territory of this state can use one of the proposed programs. According to the law, immigration is possible in the following circumstances:
registration of marriage with a Singaporean; immigration for work; business immigration; investing in the Singaporean economy; training in Singapore and work after graduation; participation in the family reunification program; presence of recognized talent (sports, science, art and other spheres); ownership of a property or its long lease.
One of the reasons for acquiring the citizenship of Singapore is the naturalization procedure. Foreigners, subject to all conditions, receive a passport of a citizen of Singapore after 2 years. The maximum period of naturalization is no more than 5-6 years.
A marriage with a Singaporean allows an alien to apply for a residence permit, and then obtain citizenship. The automatic procedure for issuing a passport when registering a marriage is not provided. In this case, it is possible to become a citizen in 2 years. A child, one of whose parents is a citizen of Singapore, at birth receives the status of a citizen of the country.
Immigration to work is a common phenomenon. Special advantages are given to persons who have high qualifications or extensive experience. The residence permit is issued in six months or a year.
Foreigners who open a business on the territory of Singapore or invest considerable money in its economy can count on preferential terms for issuing a residence permit, and then for a passport.
The family reunification program operates in many countries. A migrant who has moved to live on the territory of Singapore, can call his family on preferential terms. A person under 21 years of age (the age of majority in Singapore) is entitled to live on the territory of the country at the request of one of the parents.
The program “Art talents” of Singapore is designed for a special category of people. Gifted people get permanent residence on application. Simple citizens will not be able to take residence on the terms of such a procedure. Each applicant must be recognized at least on the territory of his state, maximum – all over the world. The residence permits can be obtained after 6 months, provided that they contribute to the cultural life of the country.
Steps to obtain Singaporean citizenship.
In Singapore, the integration of foreigners into public life takes about 2 years. At the same time, the observance of legal steps is mandatory. Arrival in Singapore is made on a visa. Depending on the purpose of entry and the period of future stay, a certain type of entry document is issued. Foreigners are available working, educational and other types of visa documents.
On a visa, a migrant can stay in Singapore for a certain time. If you want to continue living and working in Singapore, you should take care of your residence permit. If a foreigner is employed in the territory of the state, he issues a permit. Such a document can also be requested by the company where the person will work. If a foreigner registers his own business, he will have to ask for permission.
The work permit gives the migrant the right to repeatedly cross the Singapore border. He has the right to bring the child and arrange it for training. A preferential taxation system is applied to the migrant. A person working for a company in Singapore can contact a health facility. In this case, the law prohibits changing the place of work. If a foreigner is employed in a new company, he must complete a new permit.
Registration of residence permits in Singapore guarantees a large number of benefits to the migrant. This gives the right to change enterprises for employment. A person is entitled to medical care. At the same time, it is necessary to pass an army service. Permit is allowed to extend throughout life.
The next step is to request the status of a citizen of Singapore. In this case, the person is given the opportunity to purchase housing. Individuals holding a Singapore passport can enter the territory of many countries without obtaining a visa. From the past, the passport will have to be abandoned formally – state regulations do not recognize their citizens as a second passport.
Opening your business in Singapore.
Business in Singapore is a profitable prospect. In this territory it is possible to start a business from scratch. The investment of funds and the initiation of its own company in Singapore occurs on favorable terms. State financial programs allow you to open not only a large business. Owners can organize their own business with a minimal budget, but with a concrete plan for the development of the future enterprise.
A businessperson is guaranteed reliability of the case. The Singapore currency (dollar) is always stable. The most significant business areas in Singapore are tourism, IT and services.
The future entrepreneur is required to obtain a business visa. It is issued within 8 months. If there is a visa document, the migrant has the right to be the head of his own company.
There is a possibility to issue a permit for doing business quickly. The company can be opened in a few hours. In this case, the head of the company becomes a citizen of Singapore.
To initiate a small business a representative is not needed. Citizens of any state have the right to establish their own business. It happens very quickly, according to the statement. Such an order is valid for all business categories, except for IT-sphere.
It should be noted that the Singapore authorities strictly control commercial activities. Large companies are controlled by the state. This procedure applies to all areas, except for innovative technologies.
Initiation of one’s own business involves drawing up a clear development plan. Representatives of small businesses can invest at least $ 1 to develop their business. With a limited amount of money, you can use a loan. It is issued after the registration of the company. It is important to consider and draw up a plan for the conduct of the case. State bodies exercise control over a large entrepreneur. All citizens are subject to state control, which provides them with a certain security.
Benefits for entrepreneurs.
The growth of Singapore’s economic development is connected with a broad list of benefits provided to foreign entrepreneurs. The list of preferential terms of taxation varies depending on the sphere of business, however, it is possible to outline common features:
the newly registered company is exempt from taxation; all business representatives are partially exempt from taxes; expenses that the entrepreneur incurred prior to the opening of the enterprise are deducted.
Since 2005, the country has a rule that the company does not pay tax until it earns 100,000 in local currency. For a further amount of 200 thousand tax will be 50% less than for long-registered enterprises. The standard tax rate is 17%. At the same time, the company must meet the following requirements:
registration and activities in Singapore; shareholders – physical persons; 20 people – the maximum number of shareholders; the work of the enterprise does not concern investment activities and construction of commercial real estate.
As a general rule, the tax privilege is valid for no more than 3 years. Then the enterprise receives a partial privilege. For the first 100 thousand businessman will pay 75% less than at the usual rate. Further 290 thousand are taxed 50% less. Profit over 390 thousand is subject to a standard rate.
The costs that the new company incurred in a period not included in the new financial period can be deducted from taxation. Deductions are possible only from the beginning of the newly formed company.
How to move to live in Singapore.