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.
We summarise the key requirements and options under the GIP scheme below.
What are the requirements?
There are specific sets of criteria to be eligible for the GIP Scheme: