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Singapore clarifies misleading claims HNWIs receiving citizenship


Singapore's Ministry of Home Affairs (MHA) has refuted recent reports suggesting that up to 3,500 high-net-worth individuals (HNWIs) will be granted Singapore Citizenship (SC) in 2023, calling the claims “highly misleading, with no credible basis”. MHA responded to statements made by Andrew Amoils, head of research at wealth intelligence firm New World Wealth, who had suggested that most of the HNWIs would be from China. However, MHA clarified that the figures cited were based on a private research firm in Johannesburg, South Africa, and that SC applications for the rest of 2023 had not yet been decided. MHA emphasised that having a high net worth does not guarantee citizenship, and that several factors, including the benefits to Singapore, business creation, and the ability to integrate into society, are considered when reviewing applications.

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