Although there are many concerns about the viability of relocating to Singapore, immigration options are still available for businessmen, entrepreneurs and investors, says Singapore work visa specialist Rikvin. To that end, Rikvin has published a Guide on Singapore Immigration Options.
The Guide provides an overview of the various Singapore visas for High Net Worth individuals (HNWIs), entrepreneurs and professionals who wish to relocate to Singapore for work or business purposes.
For companies and professionals looking to bring on board key staff from India to run operations in Singapore, the options include the Singapore Employment Pass (EP) and Personalized Employment Pass (PEP). The Singapore EntrePass and Global Investor Program (GIP), on the other hand, are available for entrepreneurs and investors.
Explaining further, Mr. Satish Bakhda, Head of Operations at Rikvin said, “Since the early 1990s, Singapore has been India’s gateway to the rest of Southeast Asia and the world. After the Comprehensive Economic Cooperation Agreement (CECA) came into effect in 2005, we have seen many Indian professionals and businesses move to Singapore.”
As we restructure our economy, some industries and occupations will undoubtedly move to cheaper locations.
Nevertheless, Singapore’s political stability, good standard of living, attractive tax rates and sophisticated infrastructure will continue to attract MNCs and SMEs to establish a presence or headquarters here.
To that end, we are positive, that Singapore will maintain its reputation as an open economy, and continue to attract talent to complement the next stage of its development.”
– Satish Bakhda, Head of Operations, Rikvin
Analysis by Rikvin shows that many businessmen and professionals with families see Singapore as a safe place to live and work. HNWIs view Singapore as a reliable jurisdiction to park their assets as Singapore banks have been rated as among the safest in the world. For many enterprises, Singapore provides the ecosystem to set an innovative business off to a flying start. The city state also serves as a strategically-located springboard to expansion in the rest of Asia and beyond.
Amid current global challenges and due to its small size and scarcity of resources, Singapore is keen to move to the next phase of its development. In line with its new vision to create quality growth that can be savored by all, the Singapore government is welcoming more quality investments in high-valued added industries.
It has also announced that it wants to attract high-potential startups that have innovation at the core of their business, so that they can tap the country’s capabilities, infrastructure and network of trade agreements to grow further.
In addition, it has recently raised the bar for businessmen, professionals and talent wishing to relocate to Singapore. Under the refined work visa framework, professionals are not only expected to add value, but to complement the core Singaporean workforce.
“As communicated by PM Lee,Singapore has spent many decades to build a reputation for openness and reliability. However, Singapore cannot continue to use the same algorithm to maintain its growth. It is a unique country with no natural resources. As we restructure our economy, some industries and occupations will undoubtedly move to cheaper locations,” added Mr. Bakhda.
“Nevertheless, Singapore’s political stability, good standard of living, attractive tax rates and sophisticated infrastructure will continue to attract MNCs and SMEs to establish a presence or headquarters here. To that end, we are positive, that Singapore will maintain its reputation as an open economy, and continue to attract talent to complement the next stage of its development,” affirmed Mr. Bakhda.