Singapore Jacks Up the Price of Permanent Residency

What’s new: Singapore raised the bar of its 19-year-old investment-for-permanent-residency program by four- to tenfold after the provision brought in billions of dollars and created thousands of jobs over the past decade.

Starting March 15, foreigners seeking permanent-resident status through Singapore’s Global Investor Program will have to invest at least S$10 million ($7.43 million) in a new business entity or existing business operation in the country, the Singapore Economic Development Board (EDB) said Thursday.