As an investor who is interested in starting up a business or investing in Singapore, you may apply for the Singapore Permanent Residence status (PR) through the Global Investor Programme (GIP).

INVESTMENT OPTIONS Under GIP, you can choose one of the following investment options:

Option A: Invest at least S$2.5 million in a new business entity or in the expansion of an existing business operation.

Option B: Invest at least S$2.5 million in a GIP fund 1 that invests in Singapore-based companies.

 

ELIGIBILITY FOR GIP APPLICATION

You are eligible to apply for PR under the GIP if you have:

(a) A substantial business track record; and

(b) A successful entrepreneurial background.

 

ASSESSMENT CRITERIA FOR GIP APPLICATION

(a) You must possess at least 3 years of entrepreneurial and business track record and must produce audited financial statements of your company for the last 3 years. The financial statements must be audited by an accredited audit firm.

(b) Your company must only be engaged in one or more of the approved industries listed

(c) Your company’s turnover must be at least S$50 million in the year immediately preceding your application, and at least S$50 million per annum on average for the three years immediately preceding your application.

(d) If your company is privately-held, you should have at least 30% shareholding in the company. Your role in the company, as well as the growth and profitability of your company would be taken into consideration.

 

ADDITIONAL ASSESSMENT CRITERIA FOR OPTION A APPLICANTS

You must submit a detailed 5-year business or investment plan with projected employment and annual financial projections. You are required to fulfill the third year milestones outlined in your business plan and fulfil your business plan within 5 years of Singapore Permanent Residence Final Approval.

If the business plan involves the investment into an existing Singapore-based company, the additional third year milestones that the company would be required to achieve are:

(a) the hiring of at least 5 additional employees and

(b)an additional annual total business expenditure of at least S$1 million. Your company must be engaged in any of the approved industries.

YOUR FAMILY MEMBERS Your spouse and such unmarried children as are below 21 years old as at the date of application are eligible to apply for PR under your GIP application. Male children who obtain PR by virtue of being your dependant will be liable for National Service. Your parents and such unmarried children as are 21 years old or older as at the date of application, are not eligible to apply for PR under your GIP application. Instead, they can apply for a 5-year Long Term Visit Pass (LTVP), which is tied to the validity of your Re-Entry Permit (REP).

 

VALIDITY OF RE-ENTRY PERMIT

Upon the formalisation of your PR, you will be issued a Re-Entry Permit (REP) that is valid for 5 years. The REP is a permit that allows you to maintain PR status when you are out of Singapore. Subsequent to the first 5 years, your REP would be renewed if you fulfill the following conditions:

For GIP Option A applicants:

a) For a 3-year renewal:

  1. You must have fulfilled the investment conditions under Option A of the GIP; AND
  2. EITHER

(i) (A) The company that you will be investing in under GIP Option A employs in Singapore at least 5  more employees, in addition to those employed at the third year milestone, with at least 5 Singapore citizens amongst all employees, and

(B) The company that you will be investing in under GIP Option A incurs in Singapore an annual

total business expenditure of at least S$1 million more than the annual total business

expenditure incurred at the third year milestone; OR

(ii) You or at least one of your dependants, who also has PR under your GIP application, must have resided in Singapore for more than half of the time.

b) For a 5-year renewal:

  1. You must have fulfilled the investment conditions under Option A of the GIP; AND
  2. (A) The company that you will be investing in under GIP Option A employs in Singapore at least 5 employees, in addition to those employed as at the third year milestone, with at least 5 Singapore citizens amongst all employees, and (B) The company that you will be investing in under GIP Option A incurs in Singapore an annual total business expenditure of at least S$1 million more than the annual total business expenditure incurred at the third year milestone; AND
  3. You and your dependants, who also have PR under your GIP application, must have resided in Singapore for more than half of the time.

 

For GIP Option B applicants:

a) For a 3-year renewal:

  1. You must have fulfilled the investment conditions under Option B of the GIP; AND
  2. EITHER

(i) You have set up a business in Singapore which employs at least 5 Singapore citizens as employees and has incurred in Singapore at least S$1 million in annual total business expenditure; or

(ii) You or at least one of your dependants, who also has PR under your GIP application, must have resided in Singapore for more than half of the time.

(b) For a 5-year renewal:

  1. You must have fulfilled the investment conditions under Option B of the GIP; AND
  2. You have set up a business in Singapore which employs at least 5 Singapore citizens as employees and have incurred in Singapore at least S$1 million in annual total business expenditure; AND
  3. You and your dependants, who also have PR under your GIP application, must have resided in Singapore for more than half of the time.