Singapore has received numerous accolades for being one of the best places in the world to live, work and play, thus earning it the title of Asia’s business epicenter.
Its high quality of living has also compelled many investors and high net worth individuals (HNWIs) to apply for permanent residency (PR) here.
Through this programme, the applicants, their spouses and children who are below 21 years of age are eligible for Singapore Permanent Residence (PR) status. Male dependants under the age of 21 years will be liable for Singapore National Service. The investor’s unmarried children who are over 21 years of age do not qualify for Singapore PR but are eligible to apply for the renewable five-year Long Term Visit Pass, subject to the investor’s re-entry permit validity.
In order to qualify for this programme, applicants must meet certain requirements that are industry or entity based.
GIP offers two investment options:
- Option A: Invest at least S$2.5 million in a new business entity or expansion of an existing business operation in Singapore.
- Option B: Invest at least S$2.5 million in a GIP-approved fund that invests in Singapore-based companies.
Eligibility Criteria
You are eligible to apply under the GIP if you meet the following criteria:
- For everyone: Proof of at least 3-years of entrepreneurial and business track record. (Audited financial statements of your company for the last 3 years are required.)
Plus:
- For option A: You must produce 3-year business proposal or investment plan, along with employment and annual financial projection.
- For real estate or construction-related companies: Most recent annual turnover and average annual turnover for the last 3 years must be at least S$200 million.
- For other sectors: Most recent annual turnover and average annual turnover for the last 3 years must be at least S$50 million. (You may submit financial statements of the company with the highest turnover or consolidate the financial statements of various businesses to meet this criteria.)
- Privately-owned companies: Have minimum 30% shareholding in the company. Must also demonstrate role in the company, as well as the growth and profitability of your company/companies.
*List of approved investment sectors for Option A
Under the GIP, you may invest in the following areas:
- Aerospace Engineering
- Alternative Energy
- Automotive
- Chemicals
- Consumer Business
- Education
- Electronics
- Energy
- Environment & Water Technology
- Engineering Services
- Healthcare
- Infocomm Products & Services
- Logistics & Supply Chain Management
- Marine & Offshore Engineering
- Media & Entertainment
- Medical Technology
- Nanotechnology
- Natural Resources
- Safety & Security
- Space
- Pharmaceuticals & Biotechnology
- Precision Engineering
- Professional Services
- Lifestyle Products & Services i.e.
- Visual Arts, e.g. art galleries, museums, auction houses, art logistics, art storage facilities
- Performing Arts, e.g. arts theaters, production houses
- Sports, e.g. sports academies, headquarters of sports companies
- Family Office
Validity of Re-entry Permit
A successful GIP candidate will be issued a Re-Entry Permit (REP) for 5 years upon the approval of his PR status. A valid REP enables him to retain the PR status while travelling in and out of Singapore.
After the initial 5 years, the REP may be renewed subject to the following conditions:
3-year renewal:
- GIP candidate must have fulfilled the investment conditions under either Option A or Option B of the GIP; and
- Either have set up a business in Singapore with at least 5 Singaporean employees and have incurred at least S$1 million in total business spending a year;
- Or fulfil the minimum residency period (at least 2.5 years) by either GIP candidate or at least one dependent, who is also a PR under GIP.
5-year renewal:
- GIP candidate must have fulfilled the investment conditions under either Option A or Option B of the GIP; and
- Have set up a business in Singapore with at least 5 Singaporean employees and have incurred at least S$1 million in total business spending a year; AND
- Candidate and dependents who are also PR under GIP, must have resided in Singapore for at least 2.5 years.
Keen to apply for the Global Investor Programme (GIP)?
Speak to our immigration specialists and send across your profile and your company’s Profit & Loss statement for the past 3 years for a quick evaluation. We are experts when it comes to Singapore’s immigration laws and regulations. Our reliable guidance and high success rate comes with 20 years of experience.