barnetda wrote:Hi
I am a retired UK citizen. I worked in Singapore a few years ago and would like to consider retiring there.
As i understand it if i was to purchase a
property at Sentosa Cove it would help qualify for PRC. But with the bungalows there now costing 8mio SGD its to expensive.
I understand apparantly that i can qualify if i place SGD 5 mill with a financial institution in Singapore. Is that correct and if so would i be able to buy a
condo say for 3 mill sgd and offset some of that against the 5 mill?
Many thanks
Looks like you only need 1.5 million for investment or 1 million for business venture! It's called the Global Investment Programme, and if you are really interested in the business expansion, I can recommend a company for discussion, that was established in the 1940's that is looking to restructure and expand into the European market for much less than the 1 million. I'm pretty sure that you can spread your investments here, although Condo purchase is a dodgy, with some speculation going on.
I've also seen some very nice condo's at 650.000, to 800,000 with all the facilities, A Singaporean friend purchased new, and got is fingers burnt, when the prices dropped by 150,000. He paid the 800.000 but todays price is between 650 & 700. Problem is the demand pushes the price for new, after a year or two, the demand drops, because they are not new any longer, price will only hold, in the strongest of locations.
Permanent Residence for Investors
People who are interested in sinking their roots in this dynamic global city, and are committed to investing or setting up a business of at least S$1 million, may apply for permanent residence for themselves and their immediate families. They can choose to either:
Invest at least S$1 million in a new business set-up or in the expansion of an existing business entity in Singapore; or
Invest at least S$1.5 million in a business set-up — with the added flexibility of investing in other investment vehicles such as VC funds, foundations and trusts that focus on economic development.
Contact Details
For further details or enquiries on the GIP, including scheme details, eligibility criteria and application procedures, please contact EDB's head office or visit the EDB website listed below. If convenient, you may also contact any of the international offices listed on our website.
Singapore Economic Development Board
250 North Bridge Road
#24-00 Raffles City Tower
Singapore 179101
Tel: (65) 6336 2288
Fax: (65) 6336 4267
Website:
www.sedb.com
