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sundaymorningstaple
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Postby sundaymorningstaple » Thu, 25 Jun 2009 1:38 pm

As and update and for additional information for the rest of our readers I found the following:

Eligibility
Social visitors are eligible to apply for a renewable Visit Pass for long term stay of up to 5 years if they meet the following criteria:

1. 45 years old and above;
2. own a property / properties in Singapore worth at least S$500,000 (in total) for residential purposes and meet any one of the following financial requirements:
* have savings of at least S$400,000 parked in Singapore in any form of financial instruments based in Singapore, or
* show evidence of a monthly local income of at least S$7,000, or
* have a combined, savings and 5-year equivalent income of at least $400,000.
3. must be in good health.
4. have valid medical insurance in Singapore.

For renewal of the Visit Pass for purpose of long term stay, the applicant is required to meet the same set of investment, financial and medical requirements as indicated in paragraph (1) to (4) above.


So, Employment notwithstanding, It would seem that this could be used to stay here for long periods as it's geared to those with high net worth, and it's multiple entry and good for 5 year intervals just like having PR. So it shouldn't be a problem for some who would like to retire here as you could conceivably retire at 45 (not this guy though! :9 )

Here's the link at ICA:

http://www.ica.gov.sg/page.aspx?pageid=238&secid=171

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Saint
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Postby Saint » Thu, 25 Jun 2009 2:35 pm

sundaymorningstaple wrote:As and update and for additional information for the rest of our readers I found the following:

Eligibility
Social visitors are eligible to apply for a renewable Visit Pass for long term stay of up to 5 years if they meet the following criteria:

1. 45 years old and above;
2. own a property / properties in Singapore worth at least S$500,000 (in total) for residential purposes and meet any one of the following financial requirements:
* have savings of at least S$400,000 parked in Singapore in any form of financial instruments based in Singapore, or
* show evidence of a monthly local income of at least S$7,000, or
* have a combined, savings and 5-year equivalent income of at least $400,000.
3. must be in good health.
4. have valid medical insurance in Singapore.

For renewal of the Visit Pass for purpose of long term stay, the applicant is required to meet the same set of investment, financial and medical requirements as indicated in paragraph (1) to (4) above.


So, Employment notwithstanding, It would seem that this could be used to stay here for long periods as it's geared to those with high net worth, and it's multiple entry and good for 5 year intervals just like having PR. So it shouldn't be a problem for some who would like to retire here as you could conceivably retire at 45 (not this guy though! :9 )

Here's the link at ICA:

http://www.ica.gov.sg/page.aspx?pageid=238&secid=171


How can you show you have a $7k local monthly income and get a SVP :?

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sundaymorningstaple
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Postby sundaymorningstaple » Thu, 25 Jun 2009 2:55 pm

Lot's of people who are in the stratosphere way, way above me, have incomes of $7k/mo and above a month.

What it says is a monthly local INCOME of 7 K/mo. It doesn't say monthly SALARY of 7K/mo. Big difference! Especially if that 7k/mo comes from dividends or rentals or other forms of investment incomes or 7k/mo insurance proceeds or pension or 401K or any number of investment vehicles.

Hey, you're the insurance man not me!

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Zeenit
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Postby Zeenit » Thu, 25 Jun 2009 3:01 pm

Very similar to PEP which also asks you to show $7k per month income or more.
Zeenit


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