The global investor Programme for Singapore, administered by the Economic Development Board (EDB) of Singapore, awards Permanent Residence to eligible investors who drive their business and investment growth from here.
Specially designed for high-net-worth individuals, the program seeks to attract elite investors to Singapore, a world-class financial hub with competitive tax rates. Its business-friendly policies, modern infrastructure, and safety have also drawn many foreign entrepreneurs.
Table of Contents
What is the Programme?
The Global Investor Programme for Singapore is a permanent residence scheme that grants Singapore Permanent Resident status to eligible global investors. It enables these investors to run their businesses and investments in Singapore, thereby contributing to the growth of the country’s economy.
It’s a competitive and rigorous process that requires applicants to prove their eligibility. It includes having sufficient funds, a strong business track record, an entrepreneurial background, and furnishing an investment plan and credible business proposal that authorities can approve.
GIP is one of the most attractive options for Singapore PR and is an excellent choice for many people who want to invest in a country that offers a pro-business environment, top-notch infrastructure, low taxes, and a safe and secure environment. The programme also allows entrepreneurs to obtain a blue identity card, a key benefit that all Singapore permanent residents enjoy.
As a result, it has been a popular choice for global investors looking to establish themselves and their families in Singapore. These investors may be interested in obtaining citizenship in the long term, relocating to Singapore, or simply wanting to make Singapore their home.
Who is eligible for the program?
The Global Investor Programme for Singapore (GIP) provides Permanent Resident status to eligible global investors seeking to drive their business and investment growth from Singapore.
It is open to foreign nationals with a substantial business track record or successful entrepreneurial background.
If you are interested in pursuing PR under the GIP scheme, there are several options. Applicants can either invest in their businesses or funds registered with the GIP and have safeguards in place to prevent abuse. Check One Visa to check if you are eligible for the program.
Obtaining PR through the GIP can be an expensive and lengthy process. Once an application is approved, the applicant must formalize their permanent residence status within 12 months from their Final Approval Letter and submit all supporting documents required by the GIP.
Once final approval is obtained, the applicant and their family members (including spouses and children below 21) are entitled to a blue ID card to enjoy all the benefits of a Singapore PR. They can also obtain a 5-year Long Term Social Visit Pass, which is renewable and linked to the validity of their re-entry permit.
The procedure for gaining PR through the GIP takes 9-12 months, and the applicant is invited for an interview during this time. Once the interview is completed, a final approval in principle is granted. This final approval is valid for six months, during which the applicant must make the required relevant investment.
How do I apply for the program?
The global investor Programme (GIP) is an immigration path for serious foreign investors and entrepreneurs who want to become Singapore citizens. It is administered by the Economic Development Board and the Ministry of Manpower and is aimed at high-net-worth individuals who wish to make Singapore their home.
The GIP offers permanent residency status to investors who meet the minimum requirements and invest in business sectors that are approved by the program. These include investment in a new or existing company and in GIP-approved funds that invest in Singapore companies.
You must apply for the program before investing in Singapore-registered businesses or GIP-approved funds. Your application will be reviewed by the EDB and Contact Singapore, which will assess your track record, business plan, and potential contributions to Singapore. The government also engages a risk assessment consultancy firm and works with relevant agencies for security screening.
After your GIP application is approved, you will be given a five-year permanent residence permit and a 5-year Re-Entry Permit (REP). The REP allows you to maintain your PR status when you travel outside of Singapore. It is possible to renew your REP after the first five years based on business milestones met, physical time spent in Singapore, or a combination of these.
What are the requirements for the program?
The Global Investor Programme (GIP) grants Permanent Residence status to international investors committed to investing in Singapore or starting a new business or investment operation in the country. It is a popular choice for high-net-worth individuals and investors looking to make Singapore their home.
In addition to an investment of SGD 2.5 million in a GIP-approved fund or a new or existing Singapore-based family office, you must also submit a detailed 5-year business plan with employment and financial projections. The plan will be assessed based on your role in the single-family office, your functions, your proposed investment sectors and asset types, and your geographical focus.
You must own or be the largest shareholder of at least 30% of a company whose annual turnover has been at least S$500 million in the year prior to your application and at least S$500 million per annum on average for the three years before you apply.
If you own or are the largest shareholder of more than one company, you must provide audited financial statements from all companies. These statements must cover the last three years of financial reporting or five years for larger funds.
Add Comment