The Singapore Global Investor Program, also known by many as the ‘Singapore Investment Visa’, might be the route that you want to take if you are planning to relocate to Singapore and you have enough funds to invest. Singapore is one of the greatest countries in the world, with an exceptional quality of life, a strong passport, and an appealing tax policy, and it is a popular choice for most investors. More information about the Singapore Investment Visa, specifically the Singapore Global Investor Program explained in detail below.
What is the Singapore Global Investor Program?
The Global Investor Programme (GIP) is the recommended method for investors to get permanent residency in Singapore for themselves and their families. Singapore has won multiple awards for being one of the finest cities in the world to live, work, and play, earning the distinction of Asia’s business hub.
Using your investment funds, you may explore starting a new business or expanding an existing one in Singapore. You must, however, demonstrate to the authorities that you have what it takes to run a successful company, both in terms of experience and how you intend to do it. The Singapore government frequently serves as a bridge between overseas investors and local business networks.
Benefits of Citizenship in Singapore
- Visa-free entry to the United States.
- Lower medical costs and charges, as well as eligibility for Medifund and Primary Care Partnership Scheme.
- Eligibility to obtain loans from the Housing and Development Board (HDB) at a low-interest rate to fund the housing.
Benefits of Permanent Residency
- The right to reside and undertake employment in Singapore indefinitely.
- Contribute to the Central Provident Fund and get coverage for needs in medical treatment, pension, and education for children.
- Eventually become eligible for citizenship.
What are the investment options under the Global Investor Program?
Currently, the Global Investor Program offers the following investment options: –
Option A – Invest at least S$2.5 million in a new business venture or the expansion of an existing business.
Option B – Invest at least S$2.5 million into a GIP-approved fund that invests in Singapore-based businesses.
The investment contribution is merely one of the requirements for GIP eligibility. In order to gain your permanent resident status under the Global Investor Program, you will also need to demonstrate to the authorities that you have an entrepreneurial flair by demonstrating a strong track record and submitting a credible company idea or investment plan.
What are the criteria for the Global Investor Program?
The criteria for the Singapore Global Investor Program are as follows: –
- Fulfill the S$2.5 million minimum investment requirement in one of the investment options
- Have at least three years of business or entrepreneurial experience.
Check to see whether your current company satisfies the following turnover requirements: –
For companies in other industries, a minimum of S$50 million in the most recent year and an average of S$50 million each year over the past three years.
If the company is privately owned, you must own at least 30% of it.
Submit your company’s audited financial accounts for the previous 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 companies in order to achieve the minimum yearly turnover requirements. Authorities will also consider your job and position in the organisation, as well as the profitability of your company.
What are the investment criteria for ‘Option A’ applicants?
A minimum investment of S$2.5 million is required for a new company start-up or expansion of existing business activity.
A three-year business/investment plan including employment and yearly financial estimates is required. It is important to note that at the end of a three-year term, you must have met the employment and financial benchmarks that you have set in your business/investment strategy.
What are the approved business sectors for the Global Investor Program?
- Aerospace Engineering
- Alternative Energy
- Automotive
- Chemicals
- Consumer business
- Education
- Electronics
- Energy
- Environment and Water technology
- Engineering services
- Healthcare
- Infocomm Products and Services
- Logistics and Supply chain management
- Marine and Offshore engineering
- Media and Entertainment
- Medical technology
- Nanotechnology
- Natural resources
- Safety and Security
- Space
- Pharmaceuticals and Biotechnology
- Precision engineering
- Professional services
Required documents for the application of the Global Investor Program
The documents that you will need to prepare for the application of the Global Investor Program are as follows: –
- Verified copy of passport
- Verified copy of Birth Certificate
- A notarized copy of the Family Census or Household Registry
- Proof of business experience
- Background information of family members
- Verified Marriage certificate
- Two copies of passport-sized photos
- Three years of the company’s audited accounts
- Certificate of shareholders by the Registrar of Companies
- Verified copy of the company’s business license or incorporation paperwork
- Curriculum Vitae (CV)
- Business strategy
- Receipt of payment
- Confirmation of acceptance of the conditions and terms set by the program
What about the validity of the re-entry permit?
Following the approval of a PR status, a successful GIP applicant will be awarded a Re-Entry Permit (REP) for 5 years. With a valid REP, he may keep his PR status when traveling in and out of Singapore.
The REP may be renewed beyond the first 5 years under the following conditions:
Three-year renewal
- GIP applicants must have met the investment requirements of either Option A or Option B of the GIP.
- Has established a business in Singapore with at least 5 Singaporean workers and expended at least S$1 million in total business expenses per year.
- Fulfill the necessary residency term (at least 2.5 years) by either a GIP applicant or at least one dependant who is also a GIP permanent resident.
Five-year renewal
- GIP applicants must have met the investment requirements of either Option A or Option B of the GIP.
- Has established a business in Singapore with at least 5 Singaporeans and spent at least S$1 million in total business spending every year.
- Applicants and dependents with PR under GIP must have lived in Singapore for at least 2.5 years.
Is my family eligible for permanent residence under the Global Investor Program?
- You can currently apply for permanent residency for your family members under the Global Investor Program by following the guidelines below: –
- Your spouse and children aged 21 and under are able to apply for PR alongside your application. Male dependents will be required to perform National Service.
- Your children who are over the age of 21 and your parents are eligible to apply for the 5-year Long Term Social Visit Pass (LTSVP), which is renewable and related to the validity of your re-entry permit.
How long does it take for my Global Investor Program to be processed?
The application will be processed in 6-8 months. During the application procedure, the appropriate authorities will contact you to schedule an interview. If your application is granted, you will be given an Approval-in-Principle PR that is valid for 6 months, during which time you must make your investment. Documentary evidence of your investment, such as share certificates and title deeds, will be required to be presented and retained by the authorities for a period of five years. Once the authorities have received these documents, you will be granted final PR status.
Is citizenship recognized in Singapore?
Singapore does not recognize dual citizenship. To become a Singaporean citizen, you must renounce your former nationality.
