We are well-equipped with years of experience to handle applications in relation to the Global Investor Programme (GIP) that is targeted at entrepreneurs and their families.
Global Investor Programme (GIP)
This Programme is administered by the Singapore Economic Development Board (EDB). It is targeted at successful entrepreneurs and their families who wish to obtain Singapore Permanent Residence (SPR). The Singapore government believes that such successful entrepreneurs can contribute to the Singapore economy and warmly welcomes all qualified applicants.
Eligibility & Assessment Criteria for GIP Application under Options A, B and C
Established Business Owners
- You must possess at least 3 years of entrepreneurial and business track record.
- You must currently be running a company with an annual turnover of at least S$200 million in the most recent year, and at least S$200 million per annum on average for the last three years.
- If your company is privately-held, you hold at least 30% shareholding in the company.
- Your company must be engaged in one or more of the industries specified by the EDB.
Next Generation Business Owners
- Your immediate family has at least 30% shareholding or is the largest shareholder in the company.
- Your company’s annual turnover must be at least S$500 million in the most recent year, and at least S$500 million per annum on average for the last three years.
- You must be part of the management team of your company.
- Your company must be engaged in one or more of the industries specified by the EDB.
Founders of Fast Growth Companies
- You must be a founder and one of the largest individual shareholders of a company with a valuation of at least S$500 million.
- Your company must be invested into by reputable Venture Capital /Private Equity firms.
- Your company must be engaged in one or more of the industries specified by the EDB
Eligibility & Assessment Criteria for GIP Application under Option C only
Family Office Principals
- You must possess at least 5 years of entrepreneurial, investment or management track record.
- You have net investible assets of at least S$200 million.
GIP Investment Options
You may choose one of the following investment options:
Option A: Invest minimally S$10 million (inclusive of existing paid-up capital) in a new or existing business in Singapore.
Option B: Invest S$25 million in one or a maximum of two GIP-selected fund(s).
Option C: Establish a Singapore-based single family office with Assets-Under-Management (AUM*) of at least S$200 million, of which at least S$50 million must be deployed in local investment categories specified by the EDB, within 12 months of receiving Final Approval
*AUM includes all financial assets, such as bank deposits, capital market products, collective investment schemes, premiums paid in respect of onshore life insurance policies and other investment products, excluding real estate.
Provisions for your Family
- Your spouse and children (below 21 years old) are eligible to apply for PR under your GIP application. Male dependants will be liable for National Service.
- Parents and unmarried children who are 21 years old and above are not eligible to be included in your GIP application. Instead, they can apply for a 5-year Long Term Visit Pass (LTVP) tied to the validity of your Re-Entry Permit (REP).
Validity of Re-Entry Permit
Upon the formalisation of your PR status, you will be issued a Re-Entry Permit (REP) for 5 years. A valid REP is necessary whenever a PR wishes to travel in and out of Singapore. It enables you to retain your PR status while away from Singapore. In the 5th year of acquiring PR status, your REP would be renewed if you fulfil the conditions.
For a 5-year renewal, you must have fulfilled the investment conditions under either Option A, Option B or Option C of the GIP; AND
For Option A:
a) Your company must hire at least 30 employees, of which at least half are Singapore citizens and at least 10 are incremental hires; and
b) You or all your dependants, who obtained PR under your GIP application, must have resided in Singapore for more than half of the time.
For Option B:
a) Maintain your existing S$25 million investment in the GIP-selected fund(s) at the time of each renewal; and
b) You or all your dependants, who obtained PR under your GIP application, must have resided in Singapore for more than half of the time.
For Option C:
a)Maintain at least S$50 million AUM in local investment categories specified by the EDB and employ at least 5 Family Office professionals of which 3 must be Singapore Citizens; and
b) You or all your dependants, who obtained PR under your GIP application, must have resided in Singapore for more than half of the time.
For a 3-year renewal, you must have fulfilled the investment conditions under either Option A, Option B or Option C of the GIP, and satisfy either a) or b) under the corresponding Option above.
The above information may be subject to changes without prior notice and does not constitute and should not be construed as legal advice by Sim Mong Teck & Partners and is strictly for general information only.
Please take note that the ICA still reserves the right not to grant an approval even if the above criteria are met.
Other Immigration Programs
We also assist with the applications of permanent residency and citizenship to countries like Saint Kitts and Cyprus. For clients looking to live and work in Singapore, we are well-equipped to handle applications for Employment Pass and Overseas Networks & Expertise Pass (“ONE Pass”) with the relevant governmental authority.
For more information, please contact [email protected].