SINGAPORE — A widely reported projection of 3,500 high-net-worth individuals being granted Singapore citizenship in 2023 is 'highly misleading, with no credible basis', said the Ministry of Home Affairs (MHA) on Tuesday (April 26).
A widely reported projection of 3,500 high-net-worth individuals being granted Singapore citizenship in 2023 is"highly misleading, with no credible basis", said the Ministry of Home Affairs on Tuesday .
"Between 3,000 and 3,500 high-net-worth individuals are expected to become Singapore citizens in 2023... and most of them come from China," he said."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," said MHA on Tuesday.
Instead, the factors that are considered include the benefits to Singapore, the business created in Singapore, the number of Singaporeans employed and the individual’s ability to integrate into society as well as their commitment to sink roots in the country, the ministry stressed.
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