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.
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The Singapore GIP offers three investment options to choose from; each must be held for five years.
In addition, there are applications fees of S$10,000 to be paid.
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.:
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.
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.
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.
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.
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.
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