Singapore Expats Forum

retiring to our fav city

Discuss about the latest news & interesting topics, real life experience or other out of topic discussions with locals & expatriates in Singapore.

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 34791
Joined: Thu, 11 Nov 2004
Location: Still Fishing!
Contact:

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

User avatar
Saint
Director
Director
Posts: 3535
Joined: Thu, 16 Jun 2005
Location: The Juban Stand, Boat Quay
Contact:

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 :?

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 34791
Joined: Thu, 11 Nov 2004
Location: Still Fishing!
Contact:

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!

User avatar
Zeenit
Reporter
Reporter
Posts: 603
Joined: Wed, 02 Apr 2008
Location: Singapore

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


  • Similar Topics
    Replies
    Views
    Last post
  • Retiring PR
    by curiousgeorge » Sat, 20 Sep 2014 4:51 am » in PR, Citizenship, Passes & Visas for Foreigners
    5
    1327
    by ecureilx View the latest post
    Sat, 20 Sep 2014 2:21 pm
  • Retiring PR
    by CashewNut » Tue, 01 Aug 2017 8:01 am » in PR, Citizenship, Passes & Visas for Foreigners
    33
    5267
    by PNGMK View the latest post
    Sun, 03 Sep 2017 8:22 pm
  • Is it me or the city?
    by h1308 » Sat, 04 May 2013 10:29 pm » in Newcomer's Lounge
    11
    4016
    by yogaloungeforever View the latest post
    Mon, 29 Jul 2013 9:48 am
  • Best city ever?
    by Hannieroo » Tue, 04 Jun 2013 11:33 am » in General Discussions
    48
    9049
    by JR8 View the latest post
    Fri, 07 Jun 2013 10:38 am
  • Picotin - Turf City
    by Travailes » Thu, 20 Jun 2013 1:08 pm » in Wine & Dine
    0
    1978
    by Travailes View the latest post
    Thu, 20 Jun 2013 1:08 pm

Return to “General Discussions”

Who is online

Users browsing this forum: No registered users and 6 guests