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Singapore Global Investor Programme: The PR scheme for investors
You can apply for Singapore PR (permanent residence) if you are willing to invest in the country and support your funds with proven entrepreneurial skills. This particular scheme, officially known as Global Investor Programme (GIP Scheme), is often referred to as the Investor Scheme.
If you are planning to relocate to Singapore and you have sufficient funds to invest, you could consider using the GIP Scheme to acquire your PR status. Your investment into Singapore’s economy is valuable as it will generate economic spin-offs and create employment. Singapore’s business-friendly policies, relatively low taxes, modern infrastructure, safety and clean environment have always appealed to foreign investors who are looking to relocate here.
Using your investment funds, you could consider either launching a new enterprise or enriching an existing one in Singapore. You must, however, prove to the authorities that you have what it takes to make a business succeed, both in terms of your experience and how you plan to go about it. The Singapore government often acts as the link in finding suitable partnerships between foreign investors and local business networks.
Eligibility criteria
As an investor who is interested in starting a business or investing in Singapore, you may apply for the Singapore Permanent Residence (PR) status through the Global Investor Programme (GIP). You are eligible to apply if you meet the following qualifying criteria:
| Profile |
Established business owners |
Next generation business owners | Founders of fast growth companies | Family office principals |
| To qualify |
a) You must possess at least 3 years of entrepreneurial and business track record; b) You should currently be running a company1with an annual turnover of at least SG$200 million in the year immediately preceding your application, and at least SG$200 million per annum on average for the three years immediately preceding your application; c) If your company is privately-held, you should have at least 30% shareholding in the company; AND d) Your company must be engaged in one or more of the industries listed below. |
a) Your immediate family should have at least 30% shareholding or is the largest shareholder in the company you use to qualify; b) This company’s annual turnover must be at least SG$500 million in the year immediately preceding your application, and at least SG$500 million per annum on average for the three years immediately preceding your application; c) You must be part of the management team of the company (e.g. C-suite/Board of Directors); AND d) Your company must be engaged in one or more of the industries listed below. |
a) You must be a founder and one of the largest individual shareholders of a non-publicly listed company with a valuation of at least SG$500 million; b) Your company must be invested into by reputable Venture Capital/Private Equity firms; AND c) Your company must be engaged in one or more of the industries listed below. |
a) You must possess at least 5 years of entrepreneurial, investment or management track record; AND b) You must have net investible assets of at least SG$200 million. (NB: Net Investible Assets include all financial assets, such as bank deposits, capital market products, collective investment schemes, premiums paid in respect of life insurance policies and other investment products, excluding real estate. Contact Singapore reserves the right to exercise judgement in determining the suitability of the applicant’s Net Investible Assets.) |
| Investment options | Option A or B or C | Option A or B or C | Option A or B or C | Option C |
Investment options under GIP scheme
| Investment options | New requirements (w.e.f. 15 Mar 2023) | |
| Option A |
Investment conditions
|
Demonstrate an investment of at least SG$10 million (including paid-up capital) in a new business entity or existing business operation in Singapore upon AIP. |
| Re-entry Permit (REP) Renewal Conditions (Economic) |
Hire at least 30 employees, of which at least 15 must be SCs, by Year 5 of PR status. Of these, at least 10 must be incremental hires. | |
| Option B | Investment conditions | Invest SG$25 million in a GIP-select fund that also invests in Singapore-based companies. |
| REP Renewal Conditions (Economic) | Maintain investment in the GIP-select fund. | |
| Option C | Investment conditions |
Establish a Singapore-based SFO with AUM of at least SG$200 million, of which at least SG$50 million must be deployed in any of the following 4 investment categories, no later than 12 months from the date of the Final Approval letter:
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| REP Renewal Conditions (Economic) | Maintain at least SG$50 million AUM across any of the 4 investment categories throughout the 5-year PR status; and Hire at least 5 incremental Family Office professionals, of which at least 3 must be SCs, by Year 5 of PR status. |
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Please contact us for a detailed consultation.
Approved business sectors for GIP Scheme
You can choose to invest in any of the following business sectors under the GIP scheme. Please note that this is the current list (as of 15 March 2023) and may be updated by the authority from time to time.
- Aerospace Engineering
- Alternative Energy/Clean Technology
- Automotive
- Chemicals
- Consumer Business (e.g. flavors and fragrances, food ingredients, nutrition, home and personal care)
- Electronics
- Energy
- Engineering Services
- Healthcare
- Infocomm Products & Services
- Logistics & Supply Chain Management
- Marine & Offshore Engineering
- Media & Entertainment
- Medical Technology
- Nanotechnology
- Natural Resources (e.g. metals, mining, agri-commodities)
- Safety & Security
- Space
- Shipping
- Pharmaceuticals & Biotechnology
- Precision Engineering
- Professional Services e.g. consulting, design
- Arts Businesses (a) Visual arts businesses, e.g. auction houses, art logistics/storage (b) performing arts businesses
- Sports Businesses
- Family Office & Financial Services
Permanent residence for family
Currently under the GIP Scheme, you can also apply for permanent residence for your family members as per the below guidelines:
- Your spouse and children 21 years and below are eligible to apply for PR together with your PR application. Male dependents will be liable for National Service.
- Your children who are over 21 years and your parents are eligible to apply for the 5-year Long Term Social Visit Pass (LTSVP), which is renewable and tied to the validity of your re-entry permit.
Application procedure
The following documents will be required for PR application under the GIP Scheme:
- Form A: Application for Permanent Residence for Investors
- Form B: Proposed Investment Plan
- Undertaking on the Terms & Conditions of the programme
- Statutory declaration form
- Form C: Payment Details of Application Fee
- Form 4: Application for An Entry Permit to Enter Singapore
- Other supporting documents, wherever applicable
Note that officially endorsed translated versions must be provided for any non-English documents.
It will take 6-8 months to process the application. While processing the application, the relevant authority will invite you for an interview. If your application is approved, you will be issued an Approval-in-Principle PR which is valid for 6 months, during which time you will be required to make your investment. Documentary evidence of your investment such as share certificates and title deeds will need to be submitted and withheld by the authorities for 5 years. Once these documents have been received by the authorities, you will be conferred the final PR status.
Once you have cleared all the hurdles and formalities, and have received the blue identity card given to all Singapore permanent residents, you can start contributing to the country’s economy. You will also benefit by being able to reside in the country visa-free, enjoy tax relief and education subsidies for your children among many other rights and privileges that are given to citizens of Singapore.