1. We are aware of several articles published in the past few days, alleging that 3,500 high-net-worth individuals with assets of US$6 million or more, are expected to be granted Singapore Citizenship (SC) in 2023.
2. The figures cited were from a person working in a private research firm based in Johannesburg, South Africa. We do not know how he or his company arrived at this figure. SC applications for the rest of 2023 have not even been decided yet. This statement is highly misleading, with no credible basis. Having high net worth does not guarantee citizenship.
3. A whole suite of factors are considered, including the benefits to Singapore, the business created in Singapore, the number of Singaporeans employed, as well as the individual’s ability to integrate into society, and commitment to sink roots in Singapore.
