LOCATION: South East Asia
LANGUAGES SPOKEN: English, Malay, Mandarin Chinese
CURRENCY: Singapore Dollar
NEAREST AIRPORT: Singapore
MAJOR INDUSTRIES: Tourism, Financial, Transportation
Singapore is considered as one of the world’s best places to live and is considered to be the best Asian city due to its excellent infrastructure and public services. It is also one of the wealthiest countries in the world in terms of GDP per capita and has taken over as the most competitive economy globally. It is a multiracial and multicultural community. The country is politically stable and economically prosperous, with a reputable education system and highly reliable healthcare system. Singapore has a friendly tax regime and over recent years has continued to introduce tax regulations favoring foreign investors.
Global Investor Program (also known as the Singapore Investment Visa) is designed to attract wealthy foreign entrepreneurs and investors who wish to make Singapore their home. It is one of the Singaporean government’s objectives to attract talent to the country for residence and work.
SINGAPORE RESIDENCE PROGRAMS
The Global Investor Program (GIP) is a Permanent Residency scheme specially designed for wealthy investors who wish to relocate to Singapore. Launched by the Economic Development Board and the Ministry of Manpower, this Program is targeted at individuals and entrepreneurs who wish to invest in Singapore businesses. The GIP outlines the minimum investment required on the basis of which an investor along with his family can apply for PR in the country. The main criteria on the basis of which a GIP application is approved is the applicant’s business record and entrepreneurial background. Additionally, the applicant must invest in industry sectors specifically outlined in the program such as Energy, Healthcare, Automotive, Natural Resources, Media & Entertainment, etc.
In order to be eligible, the applicant must meet the following criteria:
1. Investment: The applicant is expected to invest a minimum of $2,500,00 into either a GIP-approved fund or a new (existing) company
2. Background: The applicant must have a minimum of three-year entrepreneurial and business track record and must provide the audited financial statements of his or her company for the last 3 years.
3. Shares: The investor must hold at least 30% of shares if the company belongs to privately-owned entities
`4. Turnover: The applicant has to prove his company’s turnover is atleast $200 million SGD during the last year before the application and at least $200 million SGD turnover a year (on average) during the last 3 years
5. Investment into new or existing companies: The applicant is required to provide the government with a full business plan for the next 5 years and fulfil this planned investment within the first 5 years after the visa’s issuance.
6. Milestones: At the end of the 2nd and 4th year of the planned investment, the applicant must provide the audited financial statements of his company. The GIP offers two investment options:
Option A- an investment of at least SGD 2.5 million in a new business entity or expansion of an existing business operation.
Options B- an investment for SGD 2.5 million in one of the GIP-approved funds.