Singapore Global Investor Program (GIP Scheme)

In order to be eligible to apply for the GIP visa, a person must satisfy the requirements specified under one of the categories below.

GIP Qualifying Category 1: Business Owners to qualify must:

• Experience in entrepreneurship and business activities for at least three years;
• The applicant must be currently running a company that had a turnover averaging at least S$200 million per year over the three years immediately preceding the application;
• Own at least 30% of the shareholding in the company if it is privately held;
• Work in one or more of the qualifying industries.
• The applicant must commit to making an investment in one of the options - either A, B, or C investment options.

GIP Qualifying Category 2: Next-Generation Business Owners :

Next-generation business owners refer to those people whose parents or grandparents started a business and grew it to a sizable level. So this scheme attracts such next-generation scions of family businesses. To qualify under this category, they must ;

• Hold at least 30% shareholding in the company they use to qualify within their immediate family;
• In the year immediately preceding the application, the company's annual turnover must have been at least S$500 million, and it must have averaged at least S$500 million per year for the three preceding years;
• They are part of the company's management team (e.g., C-suite or Board of Directors);
• The company work in one or more of the qualifying industries.
• The applicant must commit to investing in one of the options (options A, B, or C.)

GIP Qualifying Category 3: Founders of Fast Growth Companies Must:

• A founder and one of the largest individual shareholders of a company valued at at least S$500 million;
• The company must be invested in by reputable venture capital or private equity firms; and
• A company must be engaged in one or more of the qualifying industries.
• The applicant must commit to investing in one of the options (in Option A, Option B, or Option C)

GIP Qualifying Category 3: Family Office Principals Must:

• Experience in entrepreneurship, investment, or management of at least five years;
• Investable assets of at least S$200 million. These include bank deposits, capital market products, collective investment schemes, premiums paid on life insurance policies, and other investment products, excluding real estate.
• Investment options C and D are the only options available

Applicants who meet the criteria of one of the four categories described above then must choose from three investment options in Singapore to obtain the PR.

Option A

• Investing in a new business entity or expanding an existing business operation. must invest S$2.5 million to qualify for this option.
• You must submit a detailed five-year business or investment plan with projected employment, expenditure, and financial projections. The business plan will be evaluated based on its feasibility, your role in growing the option A company, the business activities, and the creation of local jobs.
• Ideally, you should hold 30% or more shares in Option A and be involved in the company's management (e.g., C-suite, Board).

Option B

• Investing S$2.5 million, in a GIP-approved fund that invests in Singapore-based companies qualifies you for this option.
• An assessment of your application will be based on your future business or investment plans in Singapore, which may include details on the proposed business activities, the amount of investment, and the creation of local employment.

Option C

• To qualify for this option, you must invest S$2.5 million in a Singapore-based single-family office with at least S$200 million in assets under management.
• A detailed five-year business plan with employment and financial projections will be required. The business plan will be assessed based on your role in the single-family office, your family office functions, your proposed investment sectors, asset types, and geographical focus.

Foreign investors must comply with the following steps to obtain GIP approval and PR status as soon as they determine whether they fall into one of the four groups of investors.

Step 1. Submitting an application

In order to submit application forms, a non-refundable fee of S$10,000 is required. Any transaction fees must be paid by the applicant. Typical documents those need to be submitted are ;

• Undertaking* on the Terms and Conditions of the Global Investor Programme;
• Declaration form for Application of Global Investor Programme in Form A
• Declaration form for Proposed Investment Plan in Form B
• Payment details of the Application fee in Form C
• Statutory Declaration Form
• A print-out copy of the GIP E-application form
• Application for an Entry Permit to enter Singapore
• Notarised copies of the travel documents or passports pages showing personal particulars and official descriptions (if the applicant has more than one passport, please include them)
• Notarised copy of the birth certificate showing the names of both parents
• A detailed write-up of immediate family members' backgrounds (i.e. their name, age and employment)
• Notarised copy of official marriage certificate (if applicable);
• Notarised copy of divorce certificate in respect of your previous marriage/s (if applicable)
• Notarised copy of "Deed Poll" or "Change of name" certificate (if applicable)
• Passport photographs

Additionally, the following documents are required to prove the qualification for applying to the GIP program

• Original audited financial reports (for the last 3 years) of the applicant's main business as listed in Form A
• Latest notarized copy of the documents stating the applicant's share ownership of the main business and any other business included in the application
• Diagrammatic illustration of the shareholding structure of the applicant's main business
• Latest notarised copy of the Business Registration Certificate/Business License for the applicant's main business and any other business included in the application
• Detailed curriculum vitae of the applicant
• Detailed business plan
• Any additional documents to support the applicant's investment decision

Step 2. Interview

EDB will interview you after you submit your application.

Step 3. Approval-in-Principle for Global Investor Program Singapore

Upon passing the interview and meeting the assessment criteria, the Immigration and Checkpoints Authority (ICA) will issue you an Approval-in-Principle (AIP) status. This is an indication that you have qualified for the GIP Program, and now you can proceed to make the required investment.

Step 4. Completing Global Investor Program Investment Commitment

Within six months of receiving the AIP letter, you must make the necessary investment under the selected investment option from your personal bank account in your sole name, opened in a Singapore-registered bank.

Step 5. Providing Evidence to EDB for GIP Investment done

You should provide evidence of the investment (e.g. a certified true copy of the share certificate, bank statement, and other relevant documents) to the EDB upon making the investment.

Step 6. Final Approval

After the EDB has verified the investment documents, ICA will issue a letter of final approval of your PR status. You should formalize your PR status as soon as possible. Permanent Residence status within 12 months from the date of the final approval letter.

In most cases, the application process takes between six and eight months to complete. As soon as you make the investment, complete all the formalities, and receive your PR identity card, you will be able to enjoy most of the benefits available to Singaporeans. The benefits include visa-free residence in the country, tax relief, reduced stamp duty on real estate purchases, reduced medical expenses, priority access to government-supported infant care facilities, and government-run primary and secondary schools for your children, as well as many other benefits.