If you are an investor who has an interest in starting a business in Singapore, you may apply for the Permanent Resident status through the Global Investor Programme or GIP. Under GIP, you have two investment options:
Invest at least $2.5 million in the expansion of an existing business or in a new business entity
Invest at least $2.5 million in GIP-approved funds that invest in companies based in Singapore
The investment input is only a single component that allows individuals to qualify for GIP. Aside from having enough funds, you also have to prove to authorities that you have entrepreneurial abilities by providing authorities with an excellent track record. It is a must to furnish an investment plan, as well as a credible business proposal to earn permanent residence status.
For those who are not eligible for GIP scheme, you may look into Singapore Permanent Residency under the PTS Scheme.
Poorly represented investment portfolio or entrepreneurship background, unpersuasive business indices and chosen sector’s illegibility are the most popular reasons for the Investment Visa rejection. You can be a very successful entrepreneur/investor in your own country, but as Singaporean authorities know nothing about you, you must build your reputation from scratch by providing comprehensive documentation about your business. Criteria set by the govt are very high, and fulfilling them is almost impossible without a professional visa backup. Visa experts know the standards of how the investor’s business must be represented and what indices the papers must reflect, so rejections are hardly probable if the GIP application is elaborately strategized by a professional.
If the rejection is already a reality, you can bring your case to us for a deep analysis and re-considering of your application. We usually do not appeal the GIP application: re-application is much more effective. The best time to submit a new application is in 9-18 months after the rejection, so there is plenty of time for re-strategizing your case. After we investigate into your business/profile insecurity, we will be able to develop a new strategy, fortify your profile and come up with a new stronger application. Even in case your illegibility is really low and you cannot participate in the GIP, we can suggest you a couple of other ways how you can perform your investment in Singapore! Please bring your situation to us for assessment. Early assessment protects you from wasting your time, making pointless efforts and guides you to the right track.
Participating in the GIP requires a lot of paperwork and accuracy. The procedure isn’t about just one application but rather about a series of applications and actions that must be made to achieve the final approval and investor’s ultimate goal – permanent residency. Please make sure that the required papers and the investment plan are prepared according to the latest standards and polished. Involve a professional backup if you feel uncertain.
The potential investor must submit a package containing such documents:
GIP processing is very time-consuming: your documents will take the ICA up to 8 months to process. Of course, the velocity of the process totally depends on the quality of the documents you provide. If time is crucial for you, you can shorten the waiting period by enlisting a professional visa backup.
After the ICA announces a positive result, the investors must implement the required investment in no longer than 6 months. Please ensure you know how exactly the funds must be transferred; your visa agents can guide you in this matter. When the infusion of 2.5M SGD is performed successfully, the investor must provide the authorities with the documents that verify this investment and based on them, get the final PR approval. The visa consultants will instruct you in how to collect your PR card.
The problem of any business or investment application is that the government knows nothing about the foreign entrepreneurs/investors, and its officers assess foreign businesses based on the documents these businessmen provide. Singaporean government seeks for reliable and talented investors who managed to build their successful businesses up and can positively impact Singaporean entrepreneurial surroundings with their expertise and money. That is why the authorities are very exacting to new entrepreneurs and the claims they set up are stringent. The govt will analyse your business during 8 months to detect any possible insecurity; that is why to bear such scrutiny, one’s business documentation must be executed professionally.
If the investors decide to contribute their money to the development of new or already operating SG-based firms, they must come up with a detailed 5-year investment plan. It is not a formal document, but your real commitment. What is more, you will get renewals of your REP based on your faithfulness to this commitment. That is why the investment plan must be compiled reasonably and inspired by innovative approach.
If you feel that you need a professional backup in promoting your business and your innovative ideas, using expert visa service is recommended.
One Visa has helped thousands of clients to navigate the Singapore visa process achieving high success rate.