Statement in articles saying 3,500 high-net-worth people to become Singapore citizens is highly misleading: MHA
Sign up now: Get ST's newsletters delivered to your inbox
MHA said that in granting citizenship, many factors are considered, including the benefits to Singapore
ST PHOTO: RYAN CHIONG
SINGAPORE – The Ministry of Home Affairs (MHA) said a statement in several articles claiming that 3,500 high-net-worth individuals are expected to become Singapore citizens in 2023 is “highly misleading”.
Chinese-language daily Lianhe Zaobao reported last Thursday that these high-net-worth individuals were mostly from China, citing Mr Andrew Amoils, head of research at wealth intelligence firm New World Wealth.
The Business Times and The Online Citizen picked up Zaobao’s report a day later. Mothership also picked up the report on Monday.
The articles also stated that each individual has at least US$6 million (S$8 million) in investable wealth.
In a statement on Tuesday, MHA said that 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. Singapore citizenship applications for the rest of 2023 have not even been decided yet,” the ministry added.
“This statement is highly misleading, with no credible basis. Having high net worth does not guarantee citizenship.”
Mr Amoils claimed that the prospective citizens also come from Hong Kong, India, Indonesia, Malaysia, Vietnam, the Philippines and Britain.
MHA said that in granting citizenship, many factors are considered, including the benefits to Singapore, the business created here and the number of Singaporeans employed.
It will also look at an individual’s ability to integrate into society, and commitment to sink roots in Singapore.
