Global Investor Programme (GIP)
Singapore is looking for established business owners and investors to invest in the country to fuel its industries. Recognising this significant contribution, the Singapore government accords qualified applicants and their immediate family members Singapore Permanent Residence under the Global Investor Programme (GIP).
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Specially administered by a division within the Economic Development Board of Singapore (EDB), the Global Investor Programme (GIP) is a specialised residency-by-investment pathway to Singapore Permanent Residence on the basis of investment and business commerce. Between the year 2020 and 2022, an average of 60 investors were accorded the Singapore PR status through the GIP annually.
The GIP represents one of the numerous efforts that the Singaporean government has meted out to propel Singapore’s economic growth through :
- Attracting promising investors and entrepreneurs globally.
- Knowledge and Technology transfer / contributing talent to Singapore’s world-class economy
As such, the reviewing parameters for a successful application differs greatly when compared to Singapore Permanent Residence application from say under the Professional (PTS) and Sponsorship schemes which makes up the majority of all PR applications.
Singapore Immigration Roadmap
Global Investor Programme (GIP) Eligibility
The GIP accords Singapore PR status to investors with a substantial business track record who intend to drive the growth of their investments from Singapore.
In summary, there are four types of investor profile who qualify to apply:
- An established business owner with required entrepreneurial experience of at least 3 years, and whose annual business turnover is at least S$ 200 million.
- Member of a high-value family business whose immediate family possesses at least 30% shareholding, and whose annual turnover for the business is at least S$ 500 million.
- Founder and one of the largest shareholders of a fast-growing company / start-up that’s valued at least S$ 500 million.
- A family office with at least 5 years’ worth of experience in entrepreneurship, management, or investment activities and net investable assets of at least S$ 200 million that is excluding real estate.
Global Investor Programme (GIP) Investment Options
Applicants who qualify and subsequently have their applications approved will then be required to:
Option A: invest at least S$10 million, inclusive of paid-up capital, in a new business entity or in the expansion of an existing business operation in Singapore, or;
Option B: invest $25 million in a GIP fund that invests in Singapore-based companies, or
Option C: set up a Singapore-based Single Family Office (SFO) having an Assets-Under-Management (AUM*) of at least S$200 million.
IASG clients who wish to pursue Permanent Residence under this scheme can benefit directly from our established and close working relationship with EDB. Our clients will go through an exclusive pre-qualifying process with EDB, before actual applications are filed.
The GIP represents a highly selective programme where interest heavily lies on economic and business commercial interest that Singapore can benefit from. The EDB will reference both short to middle term focus of the nation in qualifying applicants. As such, a criteria that must be met is that the applicant’s business and investment interests must be represented in the GIP’s list of accepted industries and sectors. These reflects Singapore’s biggest economic drivers presently and within the horizo
- Aerospace Engineering
- Alternative Energy/ Clean Technology
- Consumer Business
- Engineering Services
- Infocomm Products & Services
- Logistics & Supply Chain Management
- Marine & Offshore Engineering
- Media & Entertainment
- Medical Technology
- Natural Resources (e.g. metals, mining, agri-commodities)
- Safety & Security
- Pharmaceuticals & Biotechnology
- Precision Engineering
- Professional Services e.g. consulting, design
- Visual & Performing Arts Businesses
- Sports Businesses
- Family Office & Financial Services
How to Apply for GIP
IASG has outlined the intricate GIP Application process for clients in strategic phases to ensure applications are reviewed favourably and efficiently by the various government agencies. The broad steps can be outlined as follows:
1. Initial Consultation and profile analysis
2. Conduct Pre-Assessment procedure with guidance from the EDB
3. If shortlisted, to prepare Presentation of Applicant profile to EDB
4. Pre-Submission Information Gathering
5. GIP Full Documents Preparation
6. GIP Application Submission
7. In-Principle Approval Formalities
8. Preparing and Completion of Investment Commitment
9. Final Approval Formalities
Commentary: 200 Permanent Residency Granted Through GIP
From 2020 to 2022, about 200 applicants were granted Permanent Residency through the Global Investor Programme (GIP). The Global Investor Programme was launched in 2004
Commentary: Wealthy Chinese are Moving to Singapore
Wealthy Chinese are moving to Singapore in a bid to escape China’s rigid policies. As political tensions between China and Hong Kong reach a fever
Increase in Minimum Investment for Global Investor Programme
The Singapore Government has announced an increase in minimum investment for Global Investor Programme (GIP) candidates to SGD10 million, previously at SGD2.5 million. Prospective individuals
The Global Investor Programme (GIP) is a specialised residency-by-investment pathway to Singapore Permanent Residence on the basis of investment and business commerce. It is targeted at wealthy individuals and business owners seeking to get on board Singapore’s business and commercial trajectory by means of investing at least S$10 million into the economy.
At present, there are only 2 approved funds under GIP. They are :
- Jungle Leaders I Pte Ltd
- Phillip Ventures Enterprise Fund 6 Ltd
It refers to approved funds that EDB has accessed and introduced via an independent fund rating exercise. EDB has appointed Mercer (Singapore) Pte Ltd as the independent rating agency.
The only residency by investment option in Singapore is the Global Investor Programme (GIP). It allows qualified applicants a different pathway to Singapore Permanent Residence. Unlike the Professional Scheme (PTS), applicants under the GIP will be assessed on entirely different evaluation parameters.
The GIP replaces the Financial Investment Scheme (FIS). The now defunct FIS was the first resident by investment scheme recognised in Singapore. It has evolved into the GIP, taking into consideration a wider range of criteria that is aligned to Singapore’s future growth goals.
There are no Citizenship by Investment options available in Singapore. To apply for Singapore Citizenship, one must be a Singapore Permanent Resident for at least 2 years and have a relatively clean record.
Qualified foreigners who are living outside of Singapore and have investible funds of $10 million may choose to invest in Singapore via the Global Investor Programme (GIP). Administered by the Economic Development Board of Singapore (EDB), investors may choose to invest in a new business entity, expansion of an existing business operation or in a GIP fund.
An initiative by the Singapore government, its objective is to fuel and drive choice industries in Singapore to expand its economic growth, thus making it a safe and attractive investment for foreigners.
Yes, it is. While the world is in turmoil, Singapore has been proven to be steadfast. In fact, Singapore is one of the few countries that continues to grow even in the midst of a pandemic. Its stable politics and governance, efficient legal systems, and attractive financial and business landscapes, are some of the reasons that make Singapore a good investment. The government regularly announces its economic goals, its progress updates, and provides continual support for its residents and businesses (both the public and private sectors) to achieve it.
Yes, all foreigners may invest in Singapore. Foreigners who are living outside of Singapore or living in the country have several investment options including private real estate.
Singapore is not far off from being the top financial hub in Asia, and has huge potential for more growth. With international and regional networks, business owners and investors may seize opportunities worldwide while benefiting from low taxes. Geopolitical nuances weighing down on China and Hong Kong in recent years have also elevated Singapore as the preferred financial hub in Asia.
Depending on the type of investment, it may be taxable. For example, investments made in trade or business operations that are listed under the IRAS are taxable. Otherwise, there is no capital gain, dividend, or interest tax in Singapore.