Global Investor Programme – Fast Track To Singapore Permanent Resident Status

March 16, 2021
|In Immigration and Visas
|By Kevin Yeo

Any performing entrepreneur or global investor can consider enrolling on the Global Investor Programme (GIP) for their family to relocate to Singapore. This initiative is administered by the Economic Development Board of Singapore (EDB), which is actively looking for foreign individuals who intend to make Singapore their base for business and investments growth. This is a fast track process for business owners who fulfil the criteria to obtain a Singapore Permanent Resident (SPR) status.

Qualifying For The Global Investor Programme

To apply for the GIP, you must qualify in one of these 4 categories.

  1. Established Business Owners
  2. Next-Generation Business Owners
  3. Founders of Fast-Growth Companies
  4. Family Office Principals

Let us go through briefly what are the qualifying criteria for each of these categories.

Established Business Owners

  • Must have at least 3 years of entrepreneurial and business track record;
  • You currently own and operate a company with a turnover of at least S$200 million annually, in the year immediately preceding your application, and at least S$200 million annually on the average, for the past three years immediately preceding your application;
  • If your company is a privately owned company (exempt private company limited by shares), you should own at least 30% shareholding in your company; and
  • Your company must be engaged in at least one of the qualifying industries*.

Next-Generation Business Owners

  • Your immediate family must own at least 30% shareholding or basically the largest shareholder in the company that you are using to qualify;
  • This company’s turnover must be at least S$500 million (annual) in the year immediately preceding your application, and at least S$500 million annually on the average for the past three years immediately preceding the application;
  • You must be on the company’s management team (for example C-Suite and/or Board of Directors); and
  • Your company must be engaged in at least one of the qualifying industries*.

Founders of Fast-Growth Companies

  • You must be one of the largest individual shareholders and founder of a company with a valuation of at least S$500 million;
  • Reputable venture capital and/or private equity firms have to be invested in your company; and
  • Your company must be engaged in at least one of the qualifying industries*.

Family Office Principals

  • You must have a minimum of 5 years experience in entrepreneurial, investment or management track record; and
  • You must have a nett investible assets of S$200 million at the minimum (excluding real estate)

Investment Options Under The Global Investor Programme

If you qualify under one of the 4 categories mentioned above, you have 3 investment options to choose from going into the programme.

To invest a sum of S$2.5 million in

  1. either a new business entity or in the expansion of an existing business operation.
  2. a GIP fund that invests in Singapore based companies.
  3. a new or existing Singapore based single family office having Assets Under Management (AUM) of a minimum of S$200 million.

The Global Investor Programme Application and Approval Process

A typical application will take anywhere from 9 to 12 months to process. After passing the initial phase of the due diligence check, EDB will extend an invitation to you for an interview.

If the interview results are satisfactory, thereafter the Immigration & Checkpoints Authority of Singapore (ICA) will issue an approval in principle status (AIP) to you. The AIP validity is 6 months. You must make the necessary investment under one of the options stated above that you have chosen within the 6 months.

Once you have made the investment and EDB has verified it, ICA will issue a final approval letter, that allows you 12 months to formalise your SPR status in Singapore.

Can I Include My Family Members In The Application?

On the date of application, you can include your spouse and children below the age of 21 who are single as dependants.

Whereas your parents and single children above 21, can only apply for a Long Term Visit Pass (LTVP) which is tied to the validity of your Re-Entry Permit.

Renewal Of Permanent Resident Status

After you have obtained SPR status, you are issued a Re-Entry Permit (REP) with a validity of 5 years. This REP will enable you to maintain your SPR status even when you are not in Singapore.

You can renew your REP and SPR status if you can meet all the renewal conditions set forth by EDB in the 5th year of your SPR status.

*List of Qualifying Industries Under The GIP

  1. Aerospace Engineering
  2. Alternative Energy / Clean Technology
  3. Automotive
  4. Chemicals
  5. Consumer Business (e.g. flavours and fragrances, food ingredients, nutrition, home and personal care)
  6. Electronics
  7. Energy
  8. Engineering Services
  9. Healthcare
  10. Infocomm Products and Services
  11. Logistics and Supply Chain Management
  12. Marine and Offshore Engineering
  13. Media and Entertainment
  14. Medical Technology
  15. Nanotechnology
  16. Natural Resources (e.g. metals, mining, agri-commodities)
  17. Safety and Security
  18. Space
  19. Shipping
  20. Pharmaceuticals and Biotechnology
  21. Precision Engineering
  22. Professional Services e.g. consulting, design
  23. Arts Businesses (visual arts businesses, performing arts businesses)
  24. Sports Businesses
  25. Family Office and Financial Services

 

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business owners edb family office fast growth companies global investor programme