CEO Raises $88 Million In Capital, Creates Multiple Jobs, Still Gets Singapore PR Rejected. Check Viral Post

Alex Svanevik, CEO, Nansen, a multichain analytics platform, expressed shock at the fact that after generating capital and jobs in the country, his request for residency went unanswered

With 2.5 million views and over 2,000 comments, the post has now gone viral and resulted in a heated discussion if the residency is even worth the chase.

Source : Freepik

A CEO recently took to social media to share his woes regarding the Permanent Residency (PR) program in Singapore. Alex Svanevik, CEO, Nansen, a major multichain analytics platform, said that his PR application for Singapore was rejected even after he was responsible for raising a significant amount of money and employment opportunities in the country.

Sharing his experience on social media platform X, formerly known as Twitter, the entrepreneur said, “Just got my Singapore Permanent Resident application rejected! $88m capital raised 25+ jobs created 1 child born Guess it wasn’t enough. Where to move next?”

Svanevik expressed shock at the fact that after generating capital and jobs in the country, his request for residency went unanswered. The post resonated with several entrepreneurs and highlighted the stark reality of the country’s residency program. 

Just got my Singapore Permanent Resident application rejected!

$88m capital raised
25+ jobs created
1 child born

Guess it wasn’t enough.

Where to move next?

— Alex Svanevik 🐧 (@ASvanevik) October 14, 2024

With 2.5 million views and over 2,000 comments, the post has now gone viral and resulted in a heated discussion if the residency is even worth the chase. Netizens offered a variety of perspectives on the matter and shared their own experiences with the immigration policies of Singapore.

One of the users pointed out the ease and benefits of applying for the same in Japan. The user commented, “In Japan, you can get a J-Skip Visa: · PR in just 1 year · Bring domestic helpers and parents· Special entry lane at immigration· Plus, you can apply for investment support from Japan’s Ministry of Economy, Trade, and Industry.”

Meanwhile, an individual pointed out that educational qualifications and financial assets make an important difference to the eligibility for the PR. Responding to the same, the CEO clarified that he holds an MSc in Artificial Intelligence from the University of Edinburgh, famous for notable figures such as recent Nobel laureate Geoff Hinton.