global investor programe singapore

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What is Global Investment Program in Singapore?

The Global Investment Program is an investor visa that enables high-net personalities to get the Singaporean Permanent Residence for themselves and their families under the condition of making a minimum investment of 2.5M SGD. Singapore city’s investment potential praised as the “world’s best” in the BERI’s report in 2014, country’s political stability, low crime rates, tax benefits, and government’s co-investing initiatives make the Global Investor Program one of the most in-demand visas in the investment world. 

If you are thinking of relocating to Singapore, the financial hub of Southeast Asia and the Little Red Dot, and you have sufficient funds to invest, one of the things you could consider is investment immigration in the form of the GIP or the Singapore Global Investment Programme. Also known as the Singapore Investor Visa Scheme, acquiring a GIP also means that you will be able to apply for SPR or permanent residence.

Singapore remains very attractive to investors because it has business-friendly policies, a safe and clean environment, world-class workforce, and various visa options for professionals. With your investment funds, you have more options when it comes to your plans of relocating to the country. You can launch a new enterprise or simply enrich an existing one in the country. However, there is a need for you to prove to authorities that you have the experience, education and the expertise to make your business succeed.

 

 

What is Singapore GIP?

 

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:

  1. Invest at least $2.5 million in the expansion of an existing business or in a new business entity

  2. 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.

 

Eligibility for GIP application

 

How can you apply for GIP? What are the eligibility criteria?

  • Meet the minimum investment requirement of $2.5 million in either Option A or B

  • Must have an entrepreneurial or business track record of at least three years

  • Have a minimum 30% shareholding in the company if privately owned

  • Submit at least three years audited financial statements of the company

  • Ensure that the existing business has a turnover of at least $50 million in the most recent year and a minimum of $50 million annually on average for the last three years

For individuals who own more than one business, it is a must to submit the company’s financial statements with the highest turnover. Businesses can be combined in order to meet the annual minimum turnover criteria. Other factors which will be taken into account are the company’s profitability and your role and position in the company.

 

Investment Criteria for “Option A” Applicants

 

  • Minimum investment of $2.5 million in a new business or in an existing business

  • Submit a three-year investment or business plan with employment, as well as annual financial projections

  • Employment and financial milestones must be met according to the business or investment plan within a three-year period

 

Investment Criteria for “Option B” Applicants

 

  • Minimum investment of $2.5 million in a GIP-approved fund that puts money in companies based in Singapore

  • See the list of GIP-approved funds here.

 

GIP Scheme Approved Business Sectors

 

Investors can choose to put their money in any of the following business sectors under the GIP scheme. This may be updated by relevant authorities from time to time:

  • Aerospace Engineering

  • Alternative Energy

  • Automotive

  • Chemicals

  • Consumer Business

  • Education

  • Electronics

  • Energy

  • Environment & Water Technology

  • Engineering Services

  • Healthcare

  • Infocomm Products & Services

  • Logistics & Supply Chain Management

  • Marine & Offshore Engineering

  • Media & Entertainment

  • Medical Technology

  • Nanotechnology

  • Natural Resources

  • Safety & Security

  • Space

  • Pharmaceutical & Biotechnology

  • Precision Engineering

  • Professional Services

  • Lifestyle Products & Services

    • Visual arts

    • Performing Arts

    • Sports and sports academics

How to Apply for GIP

Individuals who would like to apply for the Singapore investment visa need to keep in mind thatit takes at least six to eight months. While processing the application, relevant authorities will invite you for an interview.

Once you have cleared all the formalities and hurdles, you will then be given the much-coveted blue identity card issued to all Singapore PR and you can then start contributing to the Lion City’s economy. Acquiring Singapore permanent residency comes with a lot of perks, some of which enjoy tax relief and subsidies for your children, as well as enjoying the other privileges and rights given to citizens of the country.

Application Process

 

The following process has to be followed when applying for the Global Investor Programme.

  • Pay. Applicants must first pay the application fee to the Economic Development Board’s bank account and the application for the GIP must be submitted not later than a month after paying the application fee.

  • Download and submit the application form. After paying, the applicant must download forms A, B, and C from the Contact Singapore website. Some of the details required on the form are the applicant’s personal details, their investment plan, and the payment details for the application fee. The form must then be uploaded.

  • Send hard copies of the documents. Hard copies of the documents must be sent to Contact Singapore. A few documents needed are an undertaking on the terms and conditions of the GIP, declaration form for the application, proof of payment, and the investment plan.

  • Interview. Once all the documents have been received, the applicant will be called for an interview session if he or she is eligible.

  • Approval-In-Principle PR Status. Once the application has been approved, the ICA or the Immigration and Checkpoints Authority will issue the AIP or the Approval-in-Principle PR status that has a validity of six months.

  • Make investment within six months. Upon issuance of the AIP, the applicant has to invest a minimum amount of $2.5 million either through Option A or B.

  • Approval of PR Status. Documentary evidence for proof of investment will be checked by the ICA and issue the final approval of the Singapore permanent residency.

  

Securing GIP Permanent Residency for Family Members

 

Once you have secured your Permanent Residency, your spouse and children younger than 21 years old can also apply for PR in the Global Investor Programme application. However, the applicant’s parents and unmarried children that are over the age of 21 years cannot apply for PR status in the GIP application.

Re-entry Permit and Renewal

 

Individuals who obtain permanent resident status through the GIP application will be given a Re-Entry Permit or REP. The REP will allow the applicant to retain the PR status even if they frequently travel in and out of Singapore. An applicant who wants to stay outside of the country for long periods can get their REP renewed for a period of three to five years, as long as they fulfill certain requirements.

Why should you get help from professional Employment Pass (EP) agents or consultants?

 

Applying for a Singapore investor visa is a challenging process, to say the least, but with professional help from agents and consultants who are familiar with the process and have a high success rate, you will have better chances of getting your application approved.

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:

  • Permanent Residence application that includes all eligible family members;
  • investment plan for the upcoming 5 years (for those investors who are going to contribute to new/existing companies);
  • Entry Permit application;
  • other supporting papers that reflect your business success (audited accounts, contracts, and so on).

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.

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