Singapore is a place where nationals from all over the globe are welcomed for their exceptional talents and skills. Due to the vibrantly growing economy and all round development Singapore requires various talents from all over the world. Singapore can retain the best talents due to the level of growth, development and opportunities it gives both professionally and personally. It is a very common occurrence that most of the immigrants like to settle down in this place and they obviously seek a permanent residence status.
Eligibility criteria for permanent residency has been amended a few times over the past many years and although it is much stricter than before, obtaining PR status of Singapore is still considered as much simpler than of most other developed nations. Foreigners who have worked in Singapore for a few years or have managed a company with contributions to Singapore’s economy along with job creation for locals are eligible for applying for permanent residency. Not just that, high net worth individuals who are ready to make a considerable investment in Singapore are also eligible for permanent residency without having to live in the country first. It is advisable for a foreign professional to first secure employment in the country and work efficiently for couple of years before they can think of applying for a PR status.
A number of work visas are available that are tailor made to suit different levels of skills as all types of labor are required in Singapore. A very systematic and precise selection method is applied to sieve out the best talents from all over the globe and create one of the best talent pools. Employment pass is for foreign professionals, who have been employed by Singapore based companies, entrepreneur pass is for foreign industrialists or business owners planning to relocate to Singapore after incorporating a company, S Pass is for semi skilled foreign workers, and personalized employment pass is for individual meritorious employees and so on. Individuals who have to make frequent visits for the purpose of work and business are issued multiple-journey business visa to make their trips convenient and hassle free.
Permanent residence can also be applied for by foreigners with the intention to invest in Singapore or begin a business. The family members of the investor can also apply for permanent residence along with him. There is also the Foreign Artistic Talent Scheme for foreigners who have special talent in areas such as music, art, theater etc. However, these foreign nationals must be well regarded in their own countries and preferably be of international repute to successfully apply for permanent residency in Singapore.
Author Bio:-Bryan Wong is a business analyst in the Asia-Pacific region and in his free time writes business articles. In this article, Bryan talks about Singapore Company Setup and Singapore Employment Pass.