In the realm of business opportunities in Singapore, the pathway to acquiring permanent residency (PR) through investment is open to those willing to infuse capital into the nation’s economy and demonstrate entrepreneurial acumen. This avenue, formally designated as the Global Investor Programme (GIP Scheme), is commonly known as the Investor Scheme.
For individuals contemplating relocation to Singapore with substantial investment resources, the GIP Scheme offers a viable route to securing PR status. Your commitment to investing in Singapore holds significant value as it contributes to economic growth, fosters job creation, and aligns with the nation’s business-friendly environment characterized by favourable policies, low taxation, advanced infrastructure, safety, and environmental cleanliness, all of which are attractive features for prospective foreign investors seeking to establish roots here.
Through the GIP Scheme, investors are empowered to either initiate new ventures or enhance existing ones within Singapore’s borders. However, it is imperative to demonstrate to the authorities your capacity to navigate business success, encompassing both experiential expertise and strategic planning. The Singaporean government frequently facilitates suitable partnerships between foreign investors and local business networks, acting as a conduit for collaboration and growth.
Eligibility Criteria:
As an aspiring investor seeking to establish or invest in businesses within Singapore, you may pursue Singapore Permanent Residence (PR) status via the Global Investor Programme (GIP). You qualify for consideration if you meet the following stipulated criteria:
Qualifying Criteria
| Profile | Established Business Owners | Next Generation Business Owners | Founders of Fast Growth Companies | Family Office Principals |
|---|---|---|---|---|
| To qualify | a) You must possess at least 3 years of entrepreneurial and business track record; b) You should currently be running a company 1 with an annual turnover of at least S$200 million in the year immediately preceding your application, and at least S$200 million per annum on average for the three years immediately preceding your application; c) If your company is privatelyheld2 , you should have at least 30% shareholding in the company; AND d) Your company must be engaged in one or more of the industries listed in Annex B. | a) Your immediate family should have at least 30% shareholding or is the largest shareholder in the company you use to qualify; b) This company’s annual turnover must be at least S$500 million in the year immediately preceding your application, and at least S$500 million per annum on average for the three years immediately preceding your application; c) You must be part of the management team of the company (e.g. C-suite/Board of Directors); AND d) Your company must be engaged in one or more of the industries listed in Annex B. | a) You must be a founder and one of the largest individual shareholders of a non-publicly listed company with a valuation of at least S$500 million; b) Your company must be invested into by reputable Venture Capital/Private Equity firms; AND c) Your company must be engaged in one or more of the industries listed in Annex B. | a) You must possess at least 5 years of entrepreneurial, investment or management track record; AND b) You must have net investible assets of at least S$200 million. (NB: Net Investible Assets include all financial assets, such as bank deposits, capital market products, collective investment schemes, premiums paid in respect of life insurance policies and other investment products, excluding real estate. Contact Singapore reserves the right to exercise judgement in determining the suitability of the applicant’s Net Investible Assets.) |
| #Investment Options | Option A or B or C | Option A or B or C | Option A or B or C | Option C |
Assessment Criteria for Investment Options
| Option A | Demonstrate an investment of minimally S$10 million in a new business entity or in the expansion of an existing business operation in Singapore. • Applicants who apply for Option A must submit a detailed 5-year business or investment plan with projected employment, expenditure and financial projections that will incur in the Option A company (as outlined in Form B of the GIP Application Form, available at http://www.edb.gov.sg/gip). The business plan will be assessed based on its feasibility, your role in growing the Option A company, the business activities and the creation of local jobs; and • You should have at least 30% shareholding in the Option A company and must be part of the management team of the company (e.g. C-suite/Board of Directors); and • Your Option A company must be engaged in one of the industries listed in Annex B. |
| Option B | Invest S$25 million in a GIP-select fund* that invests in Singapore-based companies. • Applicants who apply for Option B may be requested to share any other business plans for Singapore apart from the investment in a GIP-select fund. • Please refer to http://www.edb.gov.sg/gip for the updated list of GIP-select funds. |
| Option C | Establish a Singapore-based Single-Family Office with Assets-Under-Management (AUM) of at least S$200 million, where minimally S$50 million must be transferred into Singapore and deployed in any of the 4 investment categories listed below. • Applicants who apply for Option C must submit a detailed 5-year business plan with projected employment and annual financial projections (as outlined in Form B of the GIP Application Form, available at http://www.edb.gov.sg/gip). The business plan will be assessed based on your role in your Single-Family Office, the functions of your family office, your proposed investment sectors, asset types, geographical focus and philanthropy interest. • Offshore assets can be qualified as part of the AUM requirement, provided at least S$50 million investible AUM has been transferred into and held in Singapore upon Approval-in-Principle of your PR status. At least S$50 million must be deployed in any of the below 4 investment categories no later than 12 months from the Final Approval of your PR status, and thereafter maintained throughout the validity of the Re-Entry Permit: i. Equities, REITS or Business Trusts listed on Singapore-approved exchanges; ii. Qualifying debt securities listed on MAS’ enquiry system; iii. Funds distributed by Singapore-licensed/registered managers or financial institutions; and iv. Private equity investments in non-listed, Singapore-based operating companies. |
Approved Business Sectors under the GIP Scheme:
Under the GIP scheme, investors have the liberty to invest in diverse business sectors, including but not limited to:
Aerospace Engineering
Alternative Energy/Clean Technology
Automotive
Chemicals
Consumer Business (e.g. flavors 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 (a) Visual arts businesses, e.g. auction houses, art logistics/storage (b) performing arts businesses
Sports Businesses
Family Office & Financial Services
Facilitating Family Permanent Residence (PR):
Under the GIP Scheme, provisions exist for securing permanent residence for family members, as outlined below:
Your spouse and children ages 21 and below are eligible to apply for PR together with you as the main applicant. Please note that male dependants who obtain PRs will be liable to serve the mandatory National Service.
Children who are above the age of 21 and parents can apply for a 5-year Long Term Social Visit Pass (LTSVP). This is renewable.
Application Procedure:
To initiate the PR application process under the GIP Scheme, the submission of the following documents is mandatory:
Form A: Application for Permanent Residence for Investors
Form B: Proposed Investment Plan
Undertaking on the Terms & Conditions of the programme
Statutory declaration form
Form C: Payment Details of Application Fee
Form 4: Application for An Entry Permit to Enter Singapore
Other supporting documents, wherever applicable
Please note that all non-English documents must be officially translated and endorsed.
The processing of the application typically spans 6-8 months, during which applicants may be summoned for an interview. Upon approval, an Approval-in-Principle PR is issued, valid for 6 months, during which the requisite investment must be made. Documentary evidence of investment, such as share certificates and title deeds, must be furnished and retained by authorities for a period of 5 years. Upon completion of these formalities, the final PR status is conferred.
Upon successfully navigating the application process and obtaining the blue identity card emblematic of Singaporean permanent residency, individuals gain the privilege of actively contributing to the nation’s economic landscape. Additionally, PR holders enjoy visa-free residency, tax benefits, and educational subsidies for their children, among other rights and privileges synonymous with Singaporean citizenship.
If you are looking to obtain a PR through the GIP route, you can contact the team at Raffles Corporate Services at [email protected].
Yours sincerely,
The editorial team at Raffles Corporate Services
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