Thanks JSOP. Cost of living is not my concern. I am currently living in a much more expensive city in EU than Singapore.
Cheap way to move residency to Hong kong or Singapore
- Thread starter JKG77
- Start date
Thanks JSOP. Cost of living is not my concern. I am currently living in a much more expensive city in EU than Singapore.
In short, I believe the better way now is to take employment pass. There is no restriction in Singapore for 100% (or majority) foreigner owned company. In turn, employ yourself as the director of the company.
Does not apply if you have serious money, go for the global investor programme.
Does not apply if you have serious money, go for the global investor programme.
About the Global investor program, i last went to Spore about 3 years ago and checked that program rather indepth, the first lines look pretty easy as one is supposed to invest only 2.5ml sgd, but the requirements to qualify are actually quite complicated. i went to visit private banks there (2 actually, and not one of the big western ones), and their opinion was also that the day of coming to Singapore thanks to a couple of million investment were over.
Here are some requirements from the link below :
https://www.contactsingapore.sg/Media/ContactSingapore/EN/Investors and Business Owners/Invest in Singapore/Global Investor Programme/Global-Investor-Programme-Factsheet-(English)_1-May-2017.pdf
Y
our company’s turnover
must be at least S$50 million in the
year
immediately preceding your application
, and at least S$50 million
per
annum
on average for
the
three
years
immediately preceding your
application
There are more requirements not easy to fullfil, but for some reason as you can see, quoting them end up quite ugly, not sure why.
I also checked at the same period the GIP funds where one had the option to invest those 2.5M and from memory they didn't look open to new investments.
A bit too late now but 3 years back I would have been keener on going that way if open.
Thanks for mentioning the Employment pass way, glad to see it still works, again it also used to work just fine in HK, just not sure about the current requirements.
Thanks for sharing your experience. Agreed 100%, I believe it is much harder now then say 3 to 5 years ago.
No worries, I do not recall reading any articles on the local news or on the local forums on the closing or narrowing of this channel. For more specific information:
https://www.acra.gov.sg/components/wireframes/howToGuidesChapters.aspx?pageid=1241#1246
ok if that's the case, then Singapore is better for you than Hong Kong, safer, cleaner, and much more beautiful and the tax treatment is very good. I think you just need to move there. You are in business for yourself right? Singapore's favorable tax treatment is more businesses; they want businesses to open up there to employ people and stimulate the economy.
Enjoy Singapore!
Incorrect. The government is moving the involved department from one ministry to another. During this "moving house" operation is processing MM2H applications temporarily suspended/delayed.
There are several threads on ET about taxes and moving somewhere else.
Do we start each time over and over again with the same information?
Just go thru the existing threads and you will find probably everything that is repeated here again.
And go to a professional for advice. Will be faster and probably better quality of advice. And for elitetraders money cannot be an issue.
The big three have offices in every country. They can give you the latest information and help you with the practical execution of it.
https://home.kpmg.com/cn/en/home/insights/2018/01/hk-tax-alert.html
https://www2.deloitte.com/cn/en/footerlinks/office-locator/offices-china/hongkong.html
https://www.ey.com/cn/en/services/tax/country-tax-advisory/ey-hong-kong-tax-alert
Do we start each time over and over again with the same information?
Just go thru the existing threads and you will find probably everything that is repeated here again.
And go to a professional for advice. Will be faster and probably better quality of advice. And for elitetraders money cannot be an issue.
The big three have offices in every country. They can give you the latest information and help you with the practical execution of it.
https://home.kpmg.com/cn/en/home/insights/2018/01/hk-tax-alert.html
https://www2.deloitte.com/cn/en/footerlinks/office-locator/offices-china/hongkong.html
https://www.ey.com/cn/en/services/tax/country-tax-advisory/ey-hong-kong-tax-alert
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