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Global Investor Programme (GIP)

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GLOBAL INVESTOR PROGRAM (GIP)

The Global Investor Program is an initiative launched by Singapore Economic Development Board (EDB) and Ministry of Manpower (MOM). It is a program for individuals and entrepreneurs, who are keen to invest in or initiate new business activities in Singapore, and in the process, obtain Singapore permanent residence. Spouses and children of investors are also eligible for Singapore permanent residence.

NS liabilities of PRs obtained under the GIP are the same as those obtained under the PTS scheme.

Eligibility for GIP Application in Singapore

An investor can submit a GIP application if:

  • He has a substantial business track record; and
  • A successful entrepreneurial background

If the eligibility condition is met, the applicant can choose from among the two GIP investment options:

Option A: Invest at least S$2.5 million in a new business entity or expand an existing business operation in Singapore

If the applicant is choosing this option, a detailed five-year business or investment plan with projected employment and annual financial projections is also to be submitted. Importantly, the applicant is required to fulfil the milestones outlined in the business or investment plan within five years of the date of investment.

Moreover, the applicant’s entity must be engaged in any of the following industrial sector:

  • Aerospace Engineering
  • Alternative Energy/ Clean Technology
  • Automotive
  • Chemicals
  • Consumer Business
  • Electronics
  • Energy
  • Engineering Services
  • Healthcare
  • Infocomm Products & Services
  • Logistics & Supply Chain Management
  • Marine & Offshore Engineering
  • Media & Entertainment
  • Medical Technology
  • Nanotechnology
  • Natural Resources
  • Safety & Security
  • Space
  • Shipping
  • Pharmaceuticals & Biotechnology
  • Precision Engineering
  • Professional Services e.g. consulting, design
  • Arts Businesses
    • Visual arts businesses, e.g. auction houses, art logistics/storage
    • Performing arts businesses
  • Sports Businesses
  • Family Office & Financial Services

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

Assessment criteria for a GIP application in Singapore: Once the applicant has chosen either of the above two options and made the GIP application, the authorities judge the application on the following four criteria:

  • Applicant must possess at least three years of entrepreneurial and business track record and must produce audited financial statements of his or her company for the last three years.
  • Applicant’s company turnover must be at least S$200 million in the year immediately preceding the application, and at least S$200 million per annum on average for the three years immediately preceding the application.
  • The applicant should submit the financial statements of his or her company with the highest turnover. He or she may also consolidate the businesses, all of which must only be engaged in one or more of the approved industries to meet the minimum turnover criteria.
  • If the applicant’s company is privately held, he or she should have at least 30 percent shareholding in the company. The applicant’s role in the company, as well as the growth and profitability of the company is also taken into consideration.

Validity of Re-entry Permit of an approved GIP application

A successful GIP applicant is issued a Re-Entry Permit (REP) for five years upon the approval of his PR status. This enables the applicant to retain the PR status while travelling in and out of Singapore. But do note that after these initial five years, the REP renewal, for either three or five years, is subject to the following conditions:

3-year renewal:

  • GIP candidate must have fulfilled the investment conditions under either Option A or Option B of the GIP; and
  • Either have set up a business in Singapore with at least five Singaporean employees and have incurred at least S$2 million in total business spending a year;
  • Or fulfil the minimum residency period (at least 2.5 years) by either GIP candidate or at least one dependent who is also a PR under GIP.

5-year renewal:

  • GIP candidate must have fulfilled the investment conditions under either Option A or Option B of the GIP; and
  • Have set up a business in Singapore with at least five Singaporean employees and have incurred at least S$2 million in total business spending a year; and
  • Candidate and dependents who are also PR under GIP, must have resided in Singapore for at least 2.5 years.

PTS versus GIP – Obtaining Permanent Residency in Singapore

Gone are those days when getting a PR in Singapore used to be easy. Nowadays the Immigration and Checkpoints Authority of Singapore (ICA) is looking for only those persons who are willing to call the city-state their home. This has resulted in a big percentage drop in PR application approval rates in recent years.

While nobody can guarantee a Singapore permanent residency, SCI’s professional team, which is well versed in making PR applications, and appealing if at all these applications are rejected, can help you put your best foot forward.

Do remember that PTS is the fastest and most preferred way to attain Singapore PR.

Under GIP, permanent residency is more or less guaranteed, but the scheme is only for the super-rich, who has the capability of total business spending of more than S$2 million in Singapore every year.

Our experience said that PTS Residency applicatons take anything between two weeks to two years, while GIP applications normally take six to twelve months. But the GIP process has more hassles, and requires more forms/plans/interviews to be taken care of.

A general trend we have noted is the longer you have lived in Singapore and the more you have contributed to the society, the greater are your chances of getting a Singapore PR.

Use the other available immigration options such as Singapore Employment Pass, Personalised Employment Pass or the Entrepreneur Pass to shift to the city-state and work towards Singapore permanent residency.

Also, if you belong to proximate regions such as Malaysia, your chances of success are very high. ICA believes that with Malaysia and Singapore sharing similar culture, background and history, Malaysians have a better chance of integrating into the Singaporean society.

One particular exception is when a person applying for Singapore PR has a male child, for whom the permanent residency is not been apply for. As second-generation PRs in Singapore are liable for National Service, the ICA doesn’t look favourably at such applicatios, and are most likely to be rejected.

As ICA receives thousands of PR applications every month and even though you feel qualified to be a Singapore permanent resident, your application may still be rejected. This is because unlike countries such as Australia and New Zealand, Singapore doesn’t declare its points system for judging the residency applications. But engaging a professional residency service provider like us can increase your chances of convincing the authorities of your value to Singapore manifolds.

Finally, if you like living in Singapore and are willing to call it home for the rest of your life, you can apply for Singapore citizenship. All Singapore PRs who have completed their two years of residency are eligible for Singapore citizenship.