Singapore has come a long way since it gained its independence years ago. Moreover, the city-state is now the fourth largest financial center in the world which is why it attracts a great number of foreigners moving here for different reasons.
While some people come here with the purpose of doing business and open a Singapore company, others move in order to work here and decide not to leave. For those who want to permanently live in Singapore, the government gives the possibility of becoming citizens of this country.
Foreign individuals who want to obtain a Singapore citizenship must be permanent residents of this country for 2 years, which is a relatively low period compared to other countries. Citizenship by investment is also possible in Singapore and in other countries, such as Macedonia, where you need to make investments of minimum EUR 50,000 in an existing company or a newly-formed one.
Our Singapore company formation specialists can explain the citizenship by investment program.
The main ways of obtaining citizenship in Singapore in 2024
There are four ways in which a foreign citizen can obtain a Singapore passport:
- by birth, which implies the foreigner has at least one Singapore parent;
- by descent, which implies the foreign citizen was born outside Singapore after May 2004 and has one Singaporean parent;
- by registration;
- by investment.
Spouses of Singapore citizens who have a residence permit for at least 2 years also have the right to obtain Singapore citizenship.
Our company formation agents in Singapore can offer more information on the requirements related to becoming a citizen of the Lion City in 2024.
We can help you with the Singapore citizenship application. Having permanent status in this nation is the easiest route to get a passport. To acquire it, you must have resided in this location for a minimum of two years. Although not difficult, the process does require focus. Therefore, if you need help, get in touch with our local consultants who can guide you.
Documents related to obtaining citizenship in Singapore
The first thing to do before applying for a Singapore passport is for the applicant to check the eligibility criteria with the Immigration and Checkpoints Authority (ICA). Our experts in company formation in Singapore present the documents which must be submitted with ICA when applying for Singapore citizenship:
- an application form;
- an annex to the application form for one’s spouse, where applicable;
- a recent photo;
- a passport copy;
- a letter of employment, where applicable;
- the marriage certificate, where applicable;
- other documents requested by the ICA.
Following that the applicant will have an interview with the ICA representatives. Also, the Singapore citizenship application could take up to 12 months to be processed. It should be noted that Singapore does not allow for dual citizenship.
If you’re interested in the qualifications for Singapore citizenship, it’s crucial to understand that there are several ways to obtain it. The three that are utilized the most frequently are marriage, investment or business, and naturalization. Based on your specific situation, our specialized consultants might be able to help you apply for a Singaporean passport.
Singapore investment schemes for obtaining citizenship in 2024
Those who want to obtain citizenship in Singapore in 2024 can apply for the permanent residence permit under the Global Investor Program which implies investing at least 10 or 25 million SGD or starting a business. These are new changes that have been implemented starting with March, 2023, so if you plan on adhering to Singapore citizenship this way, please contact our local agents for complete information.
There is also the possibility of relocating a company, however, it must have an annual turnover of at least 50 million SGD in the previous year.
If you are interested in applying for Singapore citizenship in 2024, our agents are at your service for a complete guide.
Singapore population statistics
As of June 2023, the overall population of Singapore was 5.92 million, up 5.0% from June 2022. After the COVID-19 pandemic-related reduction in the overall population in 2020 and 2021, the average total population growth rate during the 5 five years was similar to the pace of the previous 5 years. At the beginning of 2024, the number of inhabitants has reached 6,038,999 (data available for February 2024).
Between June 2022 and June 2023, the numbers of citizens and permanent residents (PRs) rose by 1.6% (from 3.55 million to 3.61 million) and 3.7% (from 0.52 million to 0.54 million), respectively. The main cause of the increase in the populations of citizens and PRs was the relaxation of travel restrictions, which allowed more citizens and permanent residents who had been residing abroad to return to Singapore.
Our Singapore company formation advisors can explain the procedure for obtaining citizenship in the city-state. You can also contact us if you want to start a business in Singapore.