Singapore Tightens Nationality Law: Rejects 98% of Citizenship Bids from Foreign Investors
Singapore's Interior Ministry confirmed a drastic overhaul of its nationality law today, rejecting 98% of citizenship applications from foreign investors—up from 12% last year. The move targets wealthy expats using real estate purchases as a path to citizenship, amid rising housing costs and public backlash. The new rule blocks dual nationals from voting or accessing public healthcare for 10 years after naturalization. This policy shift is projected to cut inward foreign investment by 25%, but the government priorities national identity over capital inflows. Financial analysts warn of ripple effects across Asian property markets, as other nations watch closely for a potential domino effect on immigration policy.