Migrating to Singapore Thru the Monetary Authority of Singapore (MAS) Scheme
What is the MAS Scheme? The Singapore government and the Monetary Authority of Singapore (MAS), in their quest to boost Singapore’s status as a centre for private banking and wealth management, set up a new investment scheme to get Singapore Permanent Residence. This scheme, the Financial Investor Scheme (FIS), is our third route for Singapore migration. There are two types of financial commitments under the FIS for Singapore Permanent Residence. • Option A: requires the applicant to place in Singapore at least SGD 5 million of financial assets with a financial institution regulated by the MAS. • Option B: requires the applicant to hold at least SGD 3 million of assets and a Sentosa Cove bungalow on Sentosa Island. Who is eligible? An applicant should place in Singapore at least S$5 million worth of assets which is to be booked and managed by a financial institution that is regulated by the MAS. The assets should comprise of a financial asset of not less than S$ 3 million and amount which is not more than S$2 million in properties. A financial asset can be any of the following: 1. bank deposits; 2. capital market products; 3. collective investment schemes; 4. premiums paid in respect of life insurance policies; and 5. other investment products. The eligible Singapore property is subject to foreign ownership restrictions under the Residential Properties Act. Only newly acquired property purchased within 6 months from the formal submission of the application can be included. Applicants may include their immediate family members (spouse and unmarried children below 21 years old). After residing as a PR in Singapore for 2 years, you may be eligible to apply for citizenship.
Rikvin Immigration Services is an independent immigration advisory agency helping professionals and businesses from around the world to relocate to Singapore. Visit our website at www.rikvinsingapore.com
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