- February 2, 2018
- Posted by: CIP Journal
- Category: Immigration
Singapore Global Investor Programme (GIP) program launched in 2004, offers Investors who is interested in starting up a business or investing in Singapore, receive Singapore Permanent Residence status (PR) . Singapore has a highly developed economy, known for most competitive, innovative and ease of doing business in Asia. In 2016, Singapore is rated the world’s most expensive city for the third consecutive year.
Under GIP, you can choose one of the following investment options:
- Invest at least S$2.5 million in a new business entity or in the expansion of an existing business operation.
- Invest at least S$2.5 million in a GIP fund that invests in Singapore- based companies.
For option 1, You must submit a detailed 5-year business or investment plan with projected employment and annual financial projections
The Global Investor Programme (GIP) eases the way for global talent to set up and operate businesses in Singapore.
According to local reports, until June 2017, 1,826 applicants had been awarded PR through the GIP scheme since its launch in 2004 reported by Citywire Asia.
‘[For the family office route] most of our enquiries come from China and India. Clients from Malaysia and Indonesia as well,’ Dominic Volek, managing partner of Henley & Partners Singapore and head Southeast Asia told Citywire Asia.
You are eligible to apply for PR under the GIP if you have:
- A substantial business track record; and
- A successful entrepreneurial background.
Upon the formalisation of your PR, you will be issued a Re-Entry Permit (REP) that is valid for 5 years. The REP is a permit that allows you to maintain PR status when you are out of Singapore. Subsequent to the first 5 years, your REP would be renewed if you fulfill the following conditions.
For the GIP there is a non-refundable application fee of S$7,000 before submitting the application forms.
Spouse and such unmarried children as are below 21 years old as at the date of application are eligible to apply for PR under your GIP application.
A Singapore PR above 21 years old with at least two years of permanent residence may wish to apply for Singapore citizenship. Singapore passport recently ranked #2 world’s powerful passport in the world with visa free access to 176 world countries, in 2018 Henley passport index.