Singapore StartUp Visa

What Is The Singapore Start-up Visa Program

The Singapore Start-up Visa Program is designed for entrepreneurs with innovative ideas who will spur economic growth and entails consequent commitment from a designated organization. This program requires a financial commitment of at least USD 230,000. Successful applicants are granted a renewable visa and become eligible to apply for permanent residency after 2 years.

The Benefits

Citizenship and Family Inclusion

Ability to bring dependents after 12 months subject to conditions (spouse, unmarried children under 21, parents).

Travel and Quality of Life

Live and work in Singapore on their venture. After obtaining permanent residency, the applicant is free to take up any employment.

Requirements and Taxation

  • Renewable Start-up Visa (SUV) (subject to conditions).
  • Singapore permanent Residency (PR) for successful applicants after 2 years of SUV.
  • Attractive tax regime: low taxes, no tax on foreign income, capital gains or inheritance.
  • No minimum residency requirement for SUV (although over half a year is recommended for PR).

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    The Requirements

    • SUV gives immigrant entrepreneurs who will spur economic growth the right to live and work in Singapore on their venture.
    • Intent to establish and own a Singapore private limited company.
    • Incubation with an entity recognized by Singapore Authorities.

    Conditions for bringing dependents to Singapore:

    Company’s latest annual audited accounts showing:

    • At least minimum annual spending of SGD 100,000 (USD 75,000) – Calculated by deducting the following from the total operating expenses: (i) Expenses due to purchase of royalties, franchise and technical know-how fees from overseas companies; (ii) expenses due to outsourcing of work overseas; (iii) total remuneration to company’s SUV holders.
    • And Employment of 3 LQS – Full time Singaporean or PR earning at least SGD1,400 (USD1,018) each, or 1 PME – Singaporean or PR professional, manager or executive earning at least SGD 3,900 (USD2,837) per month. (This is for spouse and children under 21. Higher thresholds apply for parents).

    Conditions to renew Start Up Visa pending PR:

    • SUV may be renewed pending PR or if applicant does not wish to apply for PR, subject to meeting specified minimum annual spending and local employment requirements.
    • Male main applicant applying for PR will be exempted from National Service. However, other Singapore Citizens and Permanent Residents (for instance, male spouse of main applicant or children) may be required to serve.

    The Process

    Arrows process

    Due Diligence and Application

    • Client information intake process.
    • Meet incubator to discuss the business.
    • Submission of immigration application forms, supporting documents, and fees.

    Approval and Investment

    • Efficient processing: Typically, 8 weeks for SUV; and 6 months to process PR after 12-18 months of local business activity.
    • Within 30 days following approval of SUV, establish a Singapore private limited company.

    Citizenship and Passport

    • A year after issuance of SUV: renew SUV, and submit applications to bring dependents to Singapore.
    • 12-18 months after issuance of SUV: apply for PR (for applicant, legally married spouse and children).

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    With 30 years of immigration experience, each of Harvey Law Group’s lawyers carefully studies each client’s needs, resources and determines the immigration solution that best aligns with our client’s vision and values.

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