Through the Singapore Global Investor Program, foreign nationals can apply for permanent residency.
The Singaporean Global Investor Programme is a scheme that allows wealthy investors to get permanent residency in Singapore by making a qualifying contribution of at least SGD 10 million.
Petitioners must meet the eligibility standards and give concrete evidence of their wealth and the source of their finances.
Singapore Global Investor Program (SGIP)
One of the Singaporean government’s goals is to recruit talent to the country for residence and employment. The government intends for foreign nationals to become permanent residents and make Singapore their home.
The Singapore Global Investor Program is intended for rich and experienced overseas entrepreneurs, business owners, and managers who want to create a business or invest in Singapore and make it their home.
Successful applicants would be granted permanent residency in Singapore within nine to twelve months.
Advantages of Investing in Singaporean Residence
Singapore has established itself as a world-class destination with a diverse and cosmopolitan community. Some of the benefits the Global investor program gip are:
- Political, social, and economic stability
- Safety and a high standard of living
- World-class education, healthcare, and transportation systems
- Leading international financial center
- State-of-the-art business facilities and telecommunications
- Multicultural environment
- Dependents include: spouse and children under the age of 21; permanent residence permits to live, work, and study; and parents and children over the age of 21 who can receive a 5-year visit visa.
- Excellent healthcare and education systems
- Low investment income tax rate, low personal income tax rates and no tax on foreign service fee income.
It has a population of 6 million people and the main languages spoken are English and Mandarin. Residents of Singapore benefit from the country’s political stability and economic development. Singapore also boasts a good school system and a good healthcare system.
The government has a favorable tax environment and has continued to enact tax policies that benefit foreign investors. Singapore’s taxes system is territorial in nature.
Singapore Global Investor Program Requirements
Established business owners, next-generation business owners, founders of fast-growing digital businesses, and family office principals with significant entrepreneurial, business, and management expertise may choose one of the investment choices listed below to obtain Singaporean permanent residence.
Option A: Invest SGD 10 million (including paid-up capital) in a new or existing Singapore business and hire at least 30 workers to be eligible for renewal after the initial five-year period. At least half of the staff must be Singaporeans, and ten must be new hires if the company is already in operation.
Option B: Invest SGD 25 million in a Singapore Economic Development Board-approved fund that invests in Singapore-based enterprises. This can be an existing business operation or a companies with a substantial business track record.
Option C: Establish a Singapore-based single family office with at least SGD 200 million in assets under management (new business entity). At least SGD 50 million in assets must be deployed and maintained in any of the following investment categories during the five-year residence period:
- Companies listed on Singapore Monetary Authority-licensed markets
- Qualifying debt securities such as bonds, notes, commercial papers, and certificates of deposit
- Funds dispersed by managers who are licensed or registered in Singapore
- Private equity investments in non-listed Singapore-based companies
- Hire at least five incremental family office professionals by the conclusion of the five-year period to qualify for the re-entry permit renewal under Option C. At least three of the staff must be Singaporeans.
Criteria for Eligibility
To be eligible for the GIP Scheme, you must:
- Make a minimum investment of S$2.5 million in one of the investment alternatives (the conditions for each option are outlined below).
- Have at least three years of business or entrepreneurial experience.
- Make certain that your current firm satisfies the following turnover requirements:
For companies in other industries:
- Have at least 30% shareholding in the firm if it is privately owned
- Submit audited financial accounts for the last three years
- Have a minimum of S$50 million in the most recent year and at least S$50 million per annum on average for the last three years
If you own many businesses, you must submit the financial documents for the company with the biggest turnover. You are permitted to merge your firms in order to achieve the minimum yearly turnover requirements.
Authorities will also consider your job and position in the organization, audited financial statements, as well as the profitability of your company.
What is the process for the Global Investor programme GIP?
The application will be processed in 6-8 months. The relevant authority will contact you for an interview while processing your application.
If your application is granted, you will be given an Approval-in-Principle PR for 6 months, during which time you must make your investment.
Documentary proof of your investment, such as share certificates and title deeds, will be required and retained by the authorities for 5 years. Once the authorities have received these supporting documents, you will be granted final PR status.
