The Global Investor Program in Singapore, also known as the GIP scheme, is a very popular choice among foreign migrants who wish get their Singapore PR application status approval. Here is more information on this GIP scheme and whom are eligible to apply.
The Global Investor Programme GIP was introduced by national Singapore government authority – the Ministry Of Manpower (MOM) in conjunction with the Economic Development Board (EDB) for migrants interested to be investing in eligible businesses or funds as a way to an eventual approved Singapore permanent residence. Over the years, the requirements for Global Investor Programme GIP you need have changed, and the following is the most updated criteria required as of 2020.
There are either of three investment options within Global Investor Programme GIP of Singapore you can make if your profile qualifies, and different types of profiles qualify you for different options. Do note eligibility criteria and conditions to meet when investing also varies as shown in following.
Option A – Invest S$2.5 million in a new business entity or expansion of an existing business
Under this option A, there are additional steps in the process:
- To submit a detailed 5 years business or investment plan with projected employment, expenditure and financial projections for the company. This will be assessed based on its feasibility, your role, the activities and creation of local jobs
- Investors to have at least 30% shareholding in the company and be part of the management team
- Company must be engaged in one of the industries listed in Annex B
Who qualifies for Option A?
Successful business owners, next generation family members of an existing business operation and entrepreneurs of fast growth companies with business track record.
Option B – Invest at least S$2.5 million in a GIP fund that invests in Singapore-based companies
Likewise, there are also additional steps investors will be required to take with this path with minimum investment of Singapore $2.5M, which is highly similar to that of route A.
Who qualifies for Option B?
Established founders of a company, next generation shareholders and entrepreneurial founders of fast growth companies with business track record may apply.
Options C – Invest S$2.5 million into a new or current Singapore family office having Assets-Under-Management (AUM) of at least S$200 million
Under this option C, there are additional steps:
- Investors to submit a detailed 5 years business plan with projected employment and annual financial projections with the investment. The investment plan will be assessed based on your role in it, the functions of it, proposed investment sectors, asset types and geographical focus.
- Offshore assets outside of Singapore can be qualified as part of the AUM requirement, if a minimum of S$50M of the investible AUM has been transferred into and held in Singapore
Who qualifies for C?
Successful business owners, next generation entrepreneurs, entrepreneurial founders of fast growing companies and family office principals may qualify and apply.
To read more on the information guide on the definitions of the type of individuals who qualify for one or more of the above options A to C under the Global Investor Programme GIP Singapore, you may select to use EDB website factsheet.
While the average requirements and criteria for immigration are getting harder as the years go back, more ultra wealthy are still picking up a permanent residence in the country due to the many benefits that such a status confers on them as well as their unmarried children under 21 years and such list of dependents.