How much does it cost to immigrate to Singapore? ——Full analysis of the latest fees in 2023
In recent years, Singapore has become one of the world's most popular immigration destinations due to its high-quality educational resources, stable political environment and superior business environment. Many families and business owners are concerned about the specific costs of immigrating to Singapore. This article will combine the hot topics and hot content on the Internet in the past 10 days to provide you with a detailed analysis of the various costs of immigrating to Singapore and help you make financial planning.
1. Overview of the main ways and costs of immigrating to Singapore
There are mainly the following ways to immigrate to Singapore, and the costs of each way vary greatly:
| Immigration pathways | Minimum investment amount | Other expenses | Suitable for the crowd |
|---|---|---|---|
| Global Investor Program (GIP) | 10 million Singapore dollars (approximately 50 million yuan) | Attorney fees, government application fees, etc. are about S$50,000 | high net worth entrepreneur |
| Entrepreneur Pass (EntrePass) | S$50,000 (approximately RMB 250,000) | Company registration fees, costs of hiring local employees, etc. | Entrepreneur |
| Employment Pass (EP) | No clear minimum requirements | Monthly salary must be above S$5,000 | professionals |
| family reunification immigration | No clear minimum requirements | The guarantor must have a stable income | Singapore Citizen/PR Dependents |
2. Detailed fees for the Global Investor Program (GIP)
GIP is one of the most popular immigration programs in Singapore and is suitable for high-net-worth individuals. The following is the specific fee breakdown of GIP:
| Expense items | Amount (SGD) | Remarks |
|---|---|---|
| Investment amount | Starting from 10 million | Option to invest in commercial entities, funds or family offices |
| Government application fee | 7,000 | Non-refundable |
| attorney fees | 20,000-50,000 | Depends on the complexity of the case |
| Company registration fee | 3,000-15,000 | If you choose to invest in a business entity |
| Audit fee | 5,000-10,000/year | Necessary for company operations |
| Other miscellaneous expenses | 10,000-20,000 | Including translation, notarization, etc. |
3. Entrepreneur Pass (EntrePass) fee details
For entrepreneurs, EntrePass is a more cost-effective option. The following are detailed fees:
| Expense items | Amount (SGD) | Remarks |
|---|---|---|
| Company registered capital | Starting from 50,000 | Need to pay |
| Government application fee | 105 | Non-refundable |
| Company registration fee | 300-1,500 | Depends on company type |
| Local employee hiring costs | 3,000/month/person | Hire at least 2 local employees |
| office rent | 1,500-5,000/month | Depends on location |
4. Living Cost Estimation
In addition to immigration fees, the cost of living in Singapore also needs to be considered:
| life projects | Average monthly cost (SGD) | Remarks |
|---|---|---|
| Housing (apartment) | 2,500-6,000 | Depends on location and area |
| international school tuition | 1,500-3,000/month | every child |
| diet | 800-1,500 | family of four |
| transportation | 200-500 | Including public transportation and occasional taxis |
| medical insurance | 300-800 | Whole family coverage |
5. The latest policy changes for immigrating to Singapore in 2023
According to hot discussions on the Internet in the past 10 days, Singapore’s immigration policy will have the following important changes in 2023:
1.GIP investment threshold raised: From March 2023, the minimum investment amount of GIP will be increased from S$2.5 million to S$10 million, and the review of investors’ funding sources will also be stricter.
2.EP salary threshold raised: From September 2023, the minimum monthly salary requirement for EP applicants will be increased from S$4,500 to S$5,000, and those in the financial industry will need to reach S$5,500.
3.Optimization of Entrepreneurship Pass Evaluation Standards: The Singapore government has begun to pay more attention to the innovation and employment creation capabilities of applicant companies, rather than simply the amount of investment.
4.Relative immigration conditions tightened: It has become more difficult for PR and citizens to apply for long-term residence visas for parents, requiring higher proof of income.
6. Things to note when immigrating to Singapore
1.Proof of source of funds: Singapore’s review of the source of funds for investment immigrants is very strict, and complete proof of the source of funds is required.
2.tax planning: Although Singapore has a low tax rate, taxation is taxed globally, so tax planning needs to be done in advance.
3.Residency requirements: Different immigration pathways have different requirements for residence time. GIP does not have hard residence requirements, while other pathways usually require living in Singapore for more than half a year each year.
4.Language requirements: Although the official language is English, mastering basic English communication skills will greatly facilitate life in Singapore.
7. Summary
The cost of immigrating to Singapore ranges from hundreds of thousands of RMB to tens of millions of RMB, depending on the chosen immigration route and personal circumstances. GIP is suitable for ultra-high net worth individuals, Entrepreneurship Pass is suitable for entrepreneurs, and EP is suitable for professionals. In addition to the one-time immigration costs, there is also the high cost of living in Singapore to consider. After the policy is tightened in 2023, the threshold for immigrating to Singapore will be further raised. It is recommended that interested parties plan as early as possible or seek help from professional immigration consultants.
The data in this article come from the latest information from the Singapore government official website and authoritative immigration agencies. We hope it can provide valuable reference for your immigration plan. For more detailed personalized consultation, it is recommended to contact the Singapore Immigration Service or a professional immigration lawyer.
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