GIP or the Global Investor Programme is a programme that accords permanent residency to individuals who invest in Singapore. Applicants must make the minimum investment within 6 months of receiving their In-Principle Approval (IPA) status from ICA. This investment must be made in one of the four investment options, details below.
Singapore Permanent Residency Granted Through GIP
If you are a high-net-worth individual, consider applying for permanent residency through the Singapore Global Investor Programme (GIP). This program is designed to attract entrepreneurs and investors to Singapore and encourage them to make substantial investments in the country’s economy. Once approved, you and your family can live, work, and study in the country without needing a visa.
To qualify, you must invest at least $10 million in expanding or starting a business here, or invest the same amount in a GIP fund that invests in Singapore-based companies. You can also establish a family office in Singapore with at least $200 million in assets under management. Applicants can apply for PR with their spouse and unmarried children up to 21 years old. However, male children under the age of 21 will be liable for national service.
How Has The GIP Helped Singapore?
The GIP programme has helped Singapore to gain a global reputation as one of the world’s most business-friendly countries, offering a stable financial framework and a robust legal system. In addition, the GIP has brought in substantial investments and created jobs in sectors such as technology, urban solutions, and sustainability.
EDB also announced that the minimum investment requirements under Option B will be increased to SGD 10 million, up from SGD 2.5 million previously. Investors will have the option to commit to other investment options including selected funds or setting up a single family office. These changes are meant to attract higher quality applicants and ensure that the GIP will continue to deliver a high return on investment for Singapore. This is in line with MAS’ raising the bar for family offices and funds to qualify for tax incentives in April 2022.
Getting A Permanent Residency Through GIP
If you are an entrepreneur or high net worth individual with a proven track record, and wish to fast-track your Singapore Permanent Residency, GIP is the right programme for you. Our founder has handled many successful GIP applications since 2014, and the IASG team is experienced in helping entrepreneurs from a variety of countries. Applicants are required to submit several documents, including proof of their track record and business plan. They will also have to invest a substantial sum of money, depending on their chosen investment option.
The GIP application process can be complicated, and you will need to consult a professional for advice. Make sure to review the requirements before you apply, as they may change over time. For example, the investment amount may be different from what was required in previous years. You should also consider the fact that you need to be committed to the community. This can be shown through philanthropic activities, participation in neighbourhood events, and heartland immersion.
Conclusion
The Global Investor Programme or GIP for short is a fast-track route for ultra high net worth individuals to get their Singapore PR status for themselves and their immediate family members by investing in Singapore. With Singapore’s reputation as a top financial centre, investors can be sure that their wealth will not only be safe in Singapore but will also increase it. For enquiries on GIP applications, call Immigration@SG at +65 6493 1830.
