During a parliamentary session, Minister for Home Affairs and Law K Shanmugam addressed concerns by clarifying that the Immigration & Checkpoints Authority (ICA) does not collect information on the wealth or net worth of individuals applying for Singapore citizenship. He emphasized that wealth is not a primary criterion for assessment.
The clarification was prompted by a parliamentary question from Leong Mun Wai of the Progress Singapore Party (PSP), who inquired about how "ultra-high-net-worth" individuals and families obtain citizenship in Singapore.
Ministry for Home Affairs (MHA) Response to Media Reports
Minister Shanmugam referred to a statement issued by the MHA on April 25, 2023, in response to media reports on the topic. The reports were based on an interview with Andrew Amoils, head of research at wealth intelligence firm New World Wealth.
It was reported that Amoils mentioned that the majority of the estimated 3,500 high-net-worth individuals expected to become Singapore citizens in 2023 would be from China.
Minister Shanmugam reiterated that the methodology behind the researcher's figures was unknown, as the grant of Singapore citizenship for the remainder of 2023 had not been determined yet.
Researcher's Clarification
Minister Shanmugam noted that following the MHA statement, the researcher reached out to the ministry, claiming he had been misquoted by the media. The researcher stated that he had never discussed citizenship in the interview and that the report was untrue.
According to the researcher's clarification, his research focused on high-net-worth individuals relocating to Singapore in general, which could include expatriates or work transfers. The researcher clarified that his projections did not pertain specifically to citizenship applicants.
Assessment Criteria for Singapore Citizenship
Minister Shanmugam emphasized that possessing a high net worth does not guarantee Singapore citizenship. Applicants are evaluated based on a wide range of factors, including their ability to contribute to Singapore, the potential job opportunities they may create, their specialized skills and education, family ties to Singaporeans, their ability to integrate into society, and their commitment to establishing roots in Singapore.
He also highlighted that different criteria may apply to different applicants based on their individual backgrounds and circumstances. For example, the assessment for a spouse of a Singapore citizen would differ from someone who has resided in Singapore for a significant period and has contributed to employment generation.
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