SINGAPOREGLOBAL INVESTOR PROGRAMME
MIN INVESTMENT
S$2,500,000
PROCESSING TIME
4-8 MONTHS
PERMIT TYPE
PERMANENT RESIDENCE
FAMILY
SPOUSE, CHILD, PARENT
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SUMMARY
Singapore is a South-East Asian city-state. It often ranks first in Quality of Life surveys. It is well-known for its multiculturalism, WARM climate, world-class infrastructure, and universities. The Singapore Global Investor Programme (GIP) is a residence-by-investment programme that allows approved applicants to stay in the country permanently. After just three years of residency, citizenship is possible.
This investor visa has three different choices. Applicants may invest in a company, an approved fund, or a single-family office in Singapore. The investment must be kept for a minimum of five years.
Singapore has one of the best passports in the world. Holders can fly to Europe without a visa for 90 days in 180 days, 90 days in the United States per year, and 30 days in China per year. Taxation is therefore very beneficial. Singapore levies no tax on investment or foreign income. Citizenship in Singapore has its drawbacks. Military service may be required of citizens and permanent residents under the age of 40. This would usually apply to the male child of the main applicant. Dual citizenship is also not permitted in Singapore, a rule that could be changed in the near future. The Singapore PR Scheme for Investors allows foreign individuals who are willing to make a substantial investment in Singapore to gain quick access to Singapore citizenship.
POPULATION
5.704 Million
CAPITAL
Singapore
CURRENCY
Singapore Dollar
LANGUAGE
English, Tamil & Malay
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- TYPE: RESIDENCY
- VISA-FREE: EU, US
- PROCESS: 6 MONTHS
INVESTMENT
The Singapore GIP offers three investment options to choose from; each must be held for five years.
- Option A: Invest S$2.5 million in forming a new company or expanding an existing one.
- Option B: Put S$2.5 million into a GIP fund that focuses on Singapore-based businesses.
- Option C: Invest S$2.5 million in a new or established Singapore-based single-family office with at least S$200 million in assets under management (AUM*)
In addition, there are applications fees of S$10,000 to be paid.
SINGAPORE RESIDENCY INVESTMENT OPTIONS
GIP - OPTION A BUSINESS
Invest S$2.5 million in the formation of a new company or the expansion of an existing one.
Option, A applicants must request a comprehensive 5-year business or investment plan that includes expected jobs, expenses, and financial forecasts for the Option A company (as outlined in Form B of the GIP Application Form). The viability of the business plan, your position in growing Option A, the business activities, and the development of local jobs will all be considered.
You must own at least 30% of the stock in Option A, be a member of the company’s management team (e.g., C-suite / Board of Directors), and your company must be involved in one of the approved industries. Check all the Approved business sectors for GIP Scheme below.:
- Aerospace Engineering
- Alternative Energy/ Clean Technology
- Automotive
- Chemicals
- Consumer Business (e.g. flavours and fragrances, food ingredients, nutrition, home and personal care)
- Electronics
- Energy
- Engineering Services
- Healthcare
- Infocomm Products & Services
- Logistics & Supply Chain Management
- Marine & Offshore Engineering
- Media & Entertainment
- Medical Technology
- Nanotechnology
- Natural Resources (e.g. metals, mining, agri-commodities)
- Safety & Security
- Space
- Shipping
- Pharmaceuticals & Biotechnology
- Precision Engineering
- Professional Services, e.g. consulting, design
- Arts Businesses
- Visual arts businesses, e.g. auction houses, art logistics/storage
- Performing arts businesses
- Sports Businesses
- Family Office & Financial Services
GIP - OPTION B FUND
Invest S$2.5 million in a GIP fund focused on Singapore-based businesses. GIP funds are Singapore-based investment funds that have been granted permission to take part in the scheme.
Option B applicants will be evaluated based on their long-term company or investment plans in Singapore. This may include detailed information on planned business operations, expenditure amounts, job development in the region, and so on.
GIP - OPTION C FAMILY OFFICE
Invest S$2.5 million in a new or established Singapore-based single family office with at least S$200 million in assets under management (AUM). Offshore assets can be used to meet the AUM criteria if they have at least S$50 million in investible AUM in Singapore and are kept there.
Option C applicants must request a five-year business plan that includes regular jobs and annual financial forecasts (as outlined in Form B of the GIP Application Form). The business plan will be evaluated based on your position in your single-family office, the roles of your family office, the investment sectors, asset types, and geographic emphasis that you suggest.
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PROCESS
Application Processing Time: 4-8 Months
Step 1 - Month 1
GIP application forms are sent to Contact Singapore by the applicant. You will be invited to an interview with Contact Singapore officers if all of your documents are in order.
Step 2 - Month 4
If the Applicant meets all of the evaluation requirements, the Immigration & Checkpoints Authority (ICA) will grant the Applicant an Approval-in-Principle (AIP) status. Within six months of receiving the AIP letter, the applicant makes the required investment under the chosen investment option. Following the investment, the Applicant submits the investment papers, such as share certificates, to Contact Singapore for custody for a period of five years.
Step 3 - Month 6
ICA will issue the final approval letter once Contact Singapore has received the investment documents. Within 12 months of receiving the final approval letter, the applicant must formalise his or her Permanent Residence status in Singapore.
CONDITIONS
- A series of requirements must be fulfilled to apply for Singapore Global Investor Programme. Check all the requirements for obtaining Singapore Permanent Residence by Investment.
- Business Ownership:
THERE ARE 3 PROFILES UNDER WHICH YOU CAN QUALIFY:
1. Established Business
You must possess at least three years of entrepreneurial and business track record.
You must currently be the business owner with an annual turnover of at least S$200 million in the year before your application and at least S$200 million per year on average for the three years before your application.
If your company is privately owned, you must possess at least 30% of the company's stock; AND d) your company must operate in one or more of the industries specified in Annex B.
2. Next-Generation Business Owners
To qualify, the immediate family must own at least 30% of the company you use or be the largest shareholder.
The annual turnover of this corporation must have been at least S$500 million in the year before your application and at least S$500 million per year on average for the three years before your application.
You must be a member of the company's management team (e.g., the C-suite or the Board of Directors); AND d) the company must be involved in one or more of the industries specified in Annex B.
3. Founders of Fast-Growth Companies
You must be the founder of a corporation with a market capitalization of at least S$500 million
and one of the largest individual shareholders.
Reputable Venture Capital/Private Equity firms
must invest in your business.
One or more of the industries mentioned in Annex B must be represented by your business. - Financial Requirement:
Payslips for the previous six months; most recent letter of employment from current employer addressed to Commissioner, ICA, dated no more than three months from the date of Citizenship application, specifying the profession, date of commencement of employment, primary and gross salary per month; - Business Plan: As outlined in Form B, you must apply a comprehensive 5-year business or investment plan with regular jobs and annual financial estimates.
- Job Creation only here:
The additional third-year targets that the company will be expected to meet if the business plan includes investment into an established Singapore-based company are as follows:
1. A net annual business expenditure of at least S$1 million
2. The employment of at least five additional employees - Criminal Record:
Declaration from the applicant, a police certificate might be requested - Other Conditions:
Male children who obtain PR by virtue of being your dependant will be liable for National Service - Option specific requirements:
many documents are explicitly needed for each option
FAMILY
- Parent Dependent:
Your parents and unmarried children who are 21 years old or older at the time of application are ineligible to apply for PR via the GIP. Instead, they should apply for a 5-year Long Term Visit Pass (LTVP) tied to the visa's validity. - Child Dependent
Unmarried children who are below 21 years old.
PERMANENT RESIDENCE
- Applicants who are accepted into the GIP programme are given a five-year permanent residence permit. After three years of residency in Singapore, you might be qualified for citizenship. You may also choose to have your status renewed instead.
To be able to renew your status:
FOR A 5Y RENEWAL, you will need to achieve both conditions. FOR A 3 YEAR RENEWAL, you can achieve either one.
Option A
• Your Singapore-based company must have at least ten employees, at least 5 of whom are Singapore citizens, and a gross annual business expenditure of at least S$2 million.
• You or any of your dependants who received PR under your GIP application must have spent more than half of their time in Singapore.
Option B
• You or all of your dependants who obtained PR through your GIP application must have resided in Singapore for more than half of the time;
• You or all of your dependants who obtained PR through your GIP application must have resided in Singapore for more than half of the time.
Option C
• You or all of your dependants who obtained PR under your GIP application must have resided in Singapore for more than half of the time;
• You or all of your dependants who obtained PR under your GIP application must have resided in Singapore for more than half of the time;
• You or all of your dependants who obtained PR under your GIP application must have resided in Singapore for more than half of the time.
CITIZENSHIP
- Residence Requirements:
3 years of permanent residence including residence in Singapore throughout the 12 months immediately preceding the date of his application; - Language Requirement: :
Adequate command of the national languages of Malay, English, Mandarin, and Tamil (interview). Provided, however, that an individual over the age of 45 or who is deaf or dumb can be exempted from enforcement by the government. - Citizenship Conditions:
No dual citizenship is allowed and must be forfeited during the naturalization process. - Financial Requirement:
The most recent Business Registration Certificate from the Accounting & Corporate Regulatory Authority (ACRA), as well as the most recent balance sheet, profit and loss account, are required for self-employed applicants. - Criminal Record:
Declaration. - Other Requirements:
Professional licences, affiliation certificates, educational certificates, transcripts, vocational trade or skill certificates, and professional support.