Permanent Residence for Million Dollar Investors

Singapore permanent residence can be bought if you are willing to invest a small fortune 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 Investor Scheme and requires you to invest at lease one million dollars in order to qualify under the scheme.

If your plan is to relocate to Singapore and you have sufficient funds to spare, the Investor Scheme is the shortest route to permanent residence in Singapore. Your investment in Singapore economy is valuable because 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 been a lure for foreign investors looking to relocate.

You can use investment funds to either launch a new enterprise or beef up an existing one in Singapore. The starting point is S$1 million but that is not all. You must also prove to 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.

Investor Scheme: Investment Options

Under the Investor Scheme, you can choose either of the following investment options:

1. Option A: Invest at least S$1 million in a new business startup or expansion of an existing business operation.
2. Option B: Invest at least S$1.5 million in a new business startup, expansion of an existing operation, approved Singapore-incorporated venture capital fund or Singapore incorporated foundation or trust that focuses on economic development.
3. Option C: Invest at least S$2 million in a new business startup, expansion of an existing operation, approved Singapore-incorporated venture capital fund or Singapore incorporated foundation or trust that focuses on economic development. Up to 50% of the investment amount can be invested in residential property, for owner occupancy only.

However, you need more than money to earn your permanent residence status through the Investor scheme. You must prove to the authorities that you have an entrepreneurial flair by showing a good track record and furnishing a credible business proposal or investment plan.

Investor Scheme: PR for Family

Under the GIP permanent residence scheme, you can also apply for permanent residence for your family members as per the below guidelines:

• Your spouse and children 21 years and under are eligible to apply for PR under your PR application. Male dependents will be liable for National Service.
• Your children who are over 21 years 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.
• Your parents and parents-in-law are eligible for PR at an additional investment of S$300,000 per person under your application.

Investor Scheme: Application Procedure

The following documents will be required for PR application under Investor Scheme:

• Form A: Application for Permanent Residence for Investors
• Form B: Proposed Investment Plan
• Undertaking on the Terms & Conditions of the programme
• Form 4: Application for An Entry Permit to Enter Singapore
• Other supporting documents, if applicable

It will take 3-6 months to process the application. If your application is approved, you will be issued an Approval-in-Principle PR which is valid for 6 months, during which 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 to and withheld by authorities for 5 years. Once these documents have been received, you will be conferred PR status.

Once you have cleared all the hurdles 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 and many other rights and privileges given to full citizens of Singapore.

Other Related Topics

Singapore Immigration | EntrePass | Employment Pass