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What Is Global Investment Program In Singapore?

The Global Investment Program is an investor visa that enables high-net personalities to get the Singaporean Permanent Residence for themselves and their families under the condition of making a minimum investment of 2.5M SGD. Singapore city’s investment potential praised as the “world’s best” in the BERI’s report in 2014, country’s political stability, low crime rates, tax benefits, and government’s co-investing initiatives make the Global Investor Program one of the most in-demand visas in the investment world.

If you are thinking of relocating to Singapore, the financial hub of Southeast Asia and the Little Red Dot, and you have sufficient funds to invest, one of the things you could consider is investment immigration in the form of the GIP or the Singapore Global Investment Programme. Also known as the Singapore Investor Visa Scheme, acquiring a GIP also means that you will be able to apply for SPR or permanent residence.

Singapore remains very attractive to investors because it has business-friendly policies, a safe and clean environment, world-class workforce, and various visa options for professionals. With your investment funds, you have more options when it comes to your plans of relocating to the country. You can launch a new enterprise or simply enrich an existing one in the country. However, there is a need for you to prove to authorities that you have the experience, education and the expertise to make your business succeed.

What is Singapore GIP?

If you are an investor who has an interest in starting a business in Singapore, you may apply for the Permanent Resident status through the Global Investor Programme or GIP. Under GIP, you have two investment options:

  • Option A: Invest at least $2.5 million in the expansion of an existing business or in a new business entity
  • Option B: Invest at least $2.5 million in GIP-approved funds that invest in companies based in Singapore

The investment input is only a single component that allows individuals to qualify for GIP. Aside from having enough funds, you also have to prove to authorities that you have entrepreneurial abilities by providing authorities with an excellent track record. It is a must to furnish an investment plan, as well as a credible business proposal to earn permanent residence status.

For those who are not eligible for GIP scheme, you may look into Singapore Permanent Residency under the PTS Scheme.

How can you apply for GIP?

For individuals who own more than one business, it is a must to submit the company’s financial statements with the highest turnover. Businesses can be combined in order to meet the annual minimum turnover criteria. Other factors which will be taken into account are the company’s profitability and your role and position in the company.

What are the eligibility criteria?

  • Meet the minimum investment requirement of $2.5 million in either Option A or B
  • Must have an entrepreneurial or business track record of at least three years
  • Have a minimum 30% shareholding in the company if privately owned
  • Submit at least three years audited financial statements of the company
  • Ensure that the existing business has a turnover of at least $50 million in the most recent year and a minimum of $50 million annually on average for the last three years

Investment Criteria for “Option A” Applicants

  • Minimum investment of $2.5 million in a new business or in an existing business
  • Submit a three-year investment or business plan with employment, as well as annual financial projections
  • Have a minimum 30% shareholding in the company if privately owned
  • Employment and financial milestones must be met according to the business or investment plan within a three-year period

Investment Criteria for “Option B” Applicants

  • Minimum investment of $2.5 million in a GIP-approved fund that puts money in companies based in Singapore
  • See the list of GIP-approved funds here.
  • Have a minimum 30% shareholding in the company if privately owned

GIP Scheme Approved Business Sectors

Investors can choose to put their money in any of the following business sectors under the GIP scheme. This may be updated by relevant authorities from time to time:

  • Aerospace Engineering
  • Alternative Energy/li>
  • Automotive
  • Chemicals
  • Consumer Business
  • Education/li>
  • Electronics
  • Energy
  • Environment & Water Technology

  • Engineering Services/li>
  • Healthcare
  • Infocomm Products & Services
  • Logistics & Supply Chain Management
  • Marine & Offshore Engineering
  • Media & Entertainment/li>
  • Medical Technology
  • Nanotechnology
  • Natural Resources
  • Safety & Security
  • Space/li>
  • Pharmaceutical & Biotechnology
  • Precision Engineering
  • Professional Services
  • Lifestyle Products & Services/li>

How to Apply for GIP

Individuals who would like to apply for the Singapore investment visa need to keep in mind thatit takes at least six to eight months. While processing the application, relevant authorities will invite you for an interview.

Once you have cleared all the formalities and hurdles, you will then be given the much-coveted blue identity card issued to all Singapore PR and you can then start contributing to the Lion City’s economy. Acquiring Singapore permanent residency comes with a lot of perks, some of which enjoy tax relief and subsidies for your children, as well as enjoying the other privileges and rights given to citizens of the country.

Application Process

The following process has to be followed when applying for the Global Investor Programme.

  • Pay. Applicants must first pay the application fee to the Economic Development Board’s bank account and the application for the GIP must be submitted not later than a month after paying the application fee.
  • Download and submit the application form. After paying, the applicant must download forms A, B, and C from the Contact Singapore website. Some of the details required on the form are the applicant’s personal details, their investment plan, and the payment details for the application fee. The form must then be uploaded.
  • Send hard copies of the documents. Hard copies of the documents must be sent to Contact Singapore. A few documents needed are an undertaking on the terms and conditions of the GIP, declaration form for the application, proof of payment, and the investment plan.
  • Interview. Once all the documents have been received, the applicant will be called for an interview session if he or she is eligible.
  • Approval-In-Principle PR Status. Once the application has been approved, the ICA or the Immigration and Checkpoints Authority will issue the AIP or the Approval-in-Principle PR status that has a validity of six months.
  • Make investment within six months. Upon issuance of the AIP, the applicant has to invest a minimum amount of $2.5 million either through Option A or B.
  • Approval of PR Status. Documentary evidence for proof of investment will be checked by the ICA and issue the final approval of the Singapore permanent residency.

Securing GIP Permanent Residency for Family Members

Once you have secured your Permanent Residency, your spouse and children younger than 21 years old can also apply for PR in the Global Investor Programme application. However, the applicant’s parents and unmarried children that are over the age of 21 years cannot apply for PR status in the GIP application.

Re-entry Permit and Renewal

Individuals who obtain permanent resident status through the GIP application will be given a Re-Entry Permit or REP. The REP will allow the applicant to retain the PR status even if they frequently travel in and out of Singapore. An applicant who wants to stay outside of the country for long periods can get their REP renewed for a period of three to five years, as long as they fulfill certain requirements.

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