The Global Investor Programme (GIP Scheme), also referred to as the Investor Program, provides a path for individuals with a proven track record of entrepreneurship and the financial means to invest in the country to apply PR in Singapore and eventually to apply Singapore citizenship.
This program serves as an opportunity for individuals to contribute to the economy and create positive ripple effects through job creation. If you are considering relocation to Singapore and possess the necessary financial resources, the GIP Scheme may be a viable option for obtaining PR status.
Let’s dive into this topic further.
What is the GIP?
The Global Investor Program (GIP) is jointly administered by the Economic Development Board (EDB) and the Ministry of Manpower (MOM) and is designed to attract foreign investment to Singapore. It is a form of Singapore Investor Visa that provides an expedited path to Singapore Permanent Residency for experienced business owners, investors, and entrepreneurs.
To be eligible for the GIP, individuals must invest a minimum of 2.5 million SGD in a start-up company or GIP Fund. It should be noted that eligibility for the GIP is subject to meeting the minimum requirements set forth by the program.
Investment Options
The investor has the following possibilities under the Global Investor Program:
Option A:
Spend a minimum of SGD 2.5 million on a new company or the growth of an existing one.
Option B:
Put at least SGD 2.5 million into a fund that is authorized to engage in businesses in Singapore, as well as carry out a business plan there.
Option C (Family Office Option):
An SGD 2.5 million investment was made to launch a single-family office in Singapore, which must manage at least SGD 200 million in assets (a minimum of SGD 150 million in offshore assets and SGD 50 million in Singapore assets).
Eligibility Criteria
For you to qualify for the GIP Scheme you must:
● Reach the S$2.5 million minimum investment requirement in one of the investment options.
● Own a track record of at least three years in business or entrepreneurship
● Make sure your current company satisfies the following turnover requirements:
– For businesses operating in other industries: at least S$50 million in the most recent year and at least S$50 million on average over the previous three years.
● Possess at least 30% of the company’s shares if it is privately held.
● Submit the latest three years’ worth of your company’s audited financial statements.
You must submit the financial accounts of the company with the biggest turnover if you own more than one business. You are free to combine your companies to reach the required minimum annual turnover.
Authorities will also take into account things including your position and job within the organization, as well as the profitability of your business.
Takeaway
Entrepreneurs and investors view Singapore’s business environment to be very promising, thanks to the government of Singapore’s growing assistance in the form of programs and tax breaks.
You must submit an application with numerous supporting documents as proof of your business background, business plan, and investment in Singapore to apply for permanent residency in Singapore under GIP.
Should you plan to apply under this scheme, our desk is always open to assist you.
