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 for GIP Singapore.
The Global Investor Programme GIP scheme was introduced by national government authority – the Ministry Of Manpower (MOM) in conjunction with the Singapore Economic Development Board (EDB) for migrants interested to be investing in eligible businesses or an approved GIP fund as a way to an eventual approved Singapore permanent residence. Over the years, the requirements for Global Investor Programme GIP scheme by Economic Development Board (EDB) changed, and the following is the most updated assessment criteria required as of 2020 for a GIP application.
There are either of three GIP fund investment options in Singapore within Global Investor Programme GIP of Singapore you can make if your profile qualifies, and different types of profiles qualify you for different GIP fund options. Do note eligibility criteria and conditions to meet when investing for your GIP application also varies as shown in following.
GIP Fund 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 for the investor:
- To submit a detailed 5 years business or investment plan with projected employment in Singapore based companies, expenditure and financial projections turnover 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 investment?
Successful business owners, next generation family members of an existing business operation and entrepreneurs of fast growth companies with track record.
Option B – Invest at least SGD $2.5 million in a GIP fund that invests in Singapore-based companies
Likewise, there are also additional steps GIP fund investors will be required to take with this GIP fund path with minimum investment amount of Singapore $2.5M, which is highly similar to that of route A.
Who qualifies for Option B investment?
Established founder 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 GIP fund option C, there are additional steps:
- Investors to submit a detailed 5 years business plan with projected employment and annual financial projections with the Singapore investment VISA. The investment plan will be assessed based on your position in it, the functions of it, proposed investment sectors, business proposal, 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 investment?
Successful C suite business owners, next generation entrepreneurs, entrepreneurial founders of fast growing companies and family office principals may qualify and apply.
What is the definition of investible assets in Singapore when it comes to eligibility for investor VISA in Singapore?
For investible assets in Singapore, they can be made up of stuff like bank deposits, collective investment schemes, premiums paid for life insurance policies and such investment products, capital market products, share certificates, but not real estate.
Additional note – you need to be in one of the following business sectors in Singapore when it comes to your investment towards getting an investor VISA
To read more information on Global Investor Programme GIP funds on 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, use EDB website factsheet link. You will also need to be in one of the following business sectors and industries activities:
- aerospace engineering
- alternative energy
- media and entertainment
- medical technology
- natural resources
- consumer business for example flavors, fragrances, home and personal care, nutrition, and such
- engineering services
- logistics and supply chain management
- marine and offshore engineering
- pharmaceuticals biotechnology
- performing arts
- sports businesses
- precision engineering
- professional services
- lifestyle products (including: (a) Visual Arts businesses for example – auction houses, museums, art galleries, art storage facilities, art logistics and (b) Performing Arts (c) Sports for example – sports academies, HQ of sports companies)
Foreign investors and global investors who want more terms and investments information on Singapore Global Investor Programme GIP funds, refer to their website. For those interested in real estate, read this article to see if foreigners can buy property in Singapore.
While average requirements and criteria for immigration are getting harder as the years go back, more are picking up a permanent residence in the country due to many benefits that such a status confers on them and their unmarried children under 21 years and such list of dependents.