Inbound investments to Singapore are a mainstay of the country’s economy. To attract such investments, Singapore is renowned for its safety, attractive tax incentives, modern infrastructure and business-friendly policies. As a result, the Singapore Permanent Residency (“PR”) is highly valued among foreigners looking to stay in Singapore for the long-term.
If you are a serious investor seeking to obtain a Singapore PR and take advantage of Singapore’s business-friendly policies for your assets and investments, the Global Investor Programme (“GIP Scheme”) is be an ideal option in acquiring PR status and securing your relocation to the city-state.
What is the GIP Scheme?
The GIP Scheme allows a foreign investor who is interested in starting a business or investing in Singapore to obtain PR status in order to drive their business and investment growth. The scheme is jointly administered by the Economic Development Board (“EDB”) and the Ministry of Manpower (“MOM”). Note that there have been some recent changes to the GIP Scheme which will come into effect in March 2020.
| Profile | Established Business Owners | Nest Generation Business Owners | Founders of Fast Growth Companies | Family Office Principals |
| To qualify: | · You should possess at least three years of business and entrepreneurial track record;
· You should currently be running a company with an annual turnover of at least SGD200 million in the year immediately preceding the application, and at least SGD200 million per annum on average for the three years immediately preceding your application; · If your company is privately-held, you should have at least 30% shareholding in the company; AND · Your company must be engaged in one or more of the industries in the Annex B industries list below.
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· Your immediate family should have at least 30% shareholding or is the largest shareholder in the company you use to qualify;
· This company’s annual turnover must be at least SGD500 million in the year immediately preceding your application, and at least SGD500 million per annum on average for the three years immediately preceding your application; · You must be part of the management team of the company (e.g. C-suite / Board of Directors); AND · Your company must be engaged in one or more of the industries in the Annex B industries list below. |
· You must be a founder and one of the largest individual shareholders of a company with a valuation of at least SGD500 million;
· Your company must be invested into by reputable Venture Capital /Private Equity firms; AND · Your company must be engaged in one or more of the industries in the list below.
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· You must possess at least five years of entrepreneurial, investment or management track record; AND
· You must have net investible assets of at least SGD200 million.
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| List of industries (‘Annex B industries’):
Aerospace Engineering, Alternative Energy/Clean Technology, Automotive, Chemicals, Consumer Business (e.g. flavours and fragrances, food ingredients, nutrition, home and personal care), Electronics, Energy, Engineering Services, Healthcare, Infocomm Products & Services, Logistics & Supply Chain Management, Marine & Offshore Engineering, Media & Entertainment, Medical Technology, Nanotechnology, Natural Resources (e.g. metals, mining, agri-commodities), Safety & Security, Space, Shipping, Pharmaceuticals & Biotechnology, Precision Engineering, Professional Services e.g. consulting, design, Arts Businesses (visual arts business/performing arts business), Sports Businesses, Family Office & Financial Services.
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| Investment Options
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Option A or B or C | Option C | ||