Immigration Service

Expats, executives, and business leaders consider Singapore as one of the best places to live and work, mainly due to its strong economic position, ease of doing business, and excellent quality of life. Its political and socio-economic stability also contributes to the attractiveness of the city-state.

Despite the high cost of living, it has one of the lowest tax rates in the world. In fact, tax deductions for eligible R&D activities are also available. It is also home to the regional headquarters of many multinational companies because of its geographical location and advanced transport and communication infrastructure. Entrepreneurs and start-ups are encouraged to set up shop here through incentives and grants.

Why Singapore?

Singapore is a cosmopolitan city with a rich and diverse culture rooted in Asian heritage. It’s a haven for businesses and investors and an ideal hub to access the Southeast Asian market. Its strong economic fundamentals make it one of the least risky countries to invest in and it is also one of the top countries for attracting and enabling talent.

Take a look at some fast facts on what makes Singapore an attractive destination for entrepreneurs and investors who want to relocate:

Sources: Singapore Economic Development Board (EDB); World Bank Ease of Doing Business Report 2020; INSEAD Global Talent Competitive Index 2021; QS World University Rankings 2021; Global Innovation Index 2020; Mercer’s 21st annual Quality of Living Survey 2019; World Economic Forum Global Competitiveness Report 2019; 2020-2021 World Airport Survey; Gallup 2020 Global Law and Order Report; PwC Tax Summaries 2021

Talk to a Consultant

We will answer your queries and provide you with professional advice tailored to your needs.

Are you considering relocating to Singapore?

Immigration can mean a ton of paperwork, coordination, and knowledge of local laws and regulations. At U Ventures, we constantly monitor immigration rules and policies to ensure that our clients are able to comply with the standards and requirements set by the Singapore government. Our highly experienced immigration consultants can provide you with professional advice on how to go about your immigration journey.

Applying for Singapore Permanent Residence

There are different schemes available for Non-Singaporeans to become Singapore Permanent Residents (PR). Foreigners can submit applications if they fall within these categories:

• Spouse and unmarried children (below 21 years old) of a Singapore Citizen (SC)/Permanent Resident (SPR)
• Aged parents of a Singapore Citizen
• P, Q or S work pass holders working in Singapore
• Investors/Entrepreneurs

Source: Ministry of Foreign Affairs

There are a number of grants, funding, and subsidies available to help investors and entrepreneurs grow their business. Over the years, Singapore has become a top choice for setting up a family office because of a strong regulatory framework, transparency, an established financial services industry, availability of skilled talent, and many more.

To become a Permanent Resident or Work Pass Holder, these are the schemes you can

consider if you’re an entrepreneur, investor, or family principal:

Single Family Office (SFO)

• Entity that manages assets for or on behalf of only one family and is wholly owned or controlled by members of the same family
• Family principals who plan on driving their business and investment growth from Singapore can apply for Permanent Residence through the Global Investor Programme (GIP)
• Key professional advisors with specialised skill sets may apply for an Employment Pass (EP) to work in family offices

Sources: Monetary Authority of Singapore, Singapore Economic Development Board

Many wealthy families are choosing to set up a family office instead of special purpose vehicles (SPV) to be more involved in the management of their assets, to have the next generation family members gain more experience, or to create a leaner structure to house their financial assets. Family offices also ensure the effective succession of wealth for the future generations.

 Typically, SFOs focus on investment management and related finance and administrative functions. However, SFOs also handle tax compliance, philanthropy efforts, succession planning, and other activities. There is a dedicated team of trusted fund managers, lawyers, and tax experts to oversee every type of asset owned by the family.

 In Singapore, there are some 400 family offices established as of 2020, according to the Singapore Economic Development Board. The country has established itself as an attractive destination for setting up family offices because of a competitive tax regime and incentives that benefit the private wealth management sector.

 Fund management tax incentives can be found in the Singapore Income Tax Act, namely Sections 13CA, 13R, and 13X. Singapore does not levy capital gains or estate tax and is party to an extensive network of double tax and investment treaties.

 There are requirements for the tax exemptions. Our consultants can help you in establishing an efficient tax structure, applying for tax incentives, and more.

 At U Ventures, our highly experienced consultants can help you process Employment Pass applications and manage the immigration process of family principals. With our expertise in accounting, taxation, and incorporation, we can assist with the ongoing compliance requirements of your SFO.

Global Investor Programme (GIP)

• For investors interested in starting a business or investing in Singapore
• Established business owners, next generation business owners, founders of fast growth companies, or family office principals
• Invest S$2.5 million in a new business entity or expansion of an existing business operation, a GIP fund that invests in Singapore-based companies, or in a new or existing Singapore-based single family office having Assets-Under-Management (AUM) of at least S$200 million

Sources: Singapore Economic Development Board (EDB)

Singapore Entrepreneur Pass (EntrePass)

• For serial entrepreneurs, high-calibre innovators, or experienced investors
• Foreign entrepreneurs who have started, or have the intention to start a private limited company that is venture-backed or owns innovative technologies
• Must meet the criteria set by the Ministry of Manpower as an entrepreneur, innovator, or investor

Sources: Singapore Economic Development Board (EDB)

We can help you navigate the entire
immigration process