Why Global Investment Program (GIP) is the TOP choice of Ultra High Net Worths for PR in Singapore?
Singapore is a thriving investment hub. And this is the very reason many ultra high net worths and businessmen seek to become PR in Singapore. The country has multiple avenues to migrate to Singapore to obtain PR. Many urge that getting PR in Singapore requires strict criteria, specialty, or skills.
But the Number 1 choice of ultra high net worths, investors, and businessmen are the Global Investment Program (GIP).
Why?
Because it offers:
- PR with option for Singapore citizenship.
- A safe harbour for your assets.
- An avenue to grow your investment.
- A scope to expand your business for generations to come.
- A bright future for your family.
What are the avenues to migrate in Singapore?
Firstly, let’s discuss the 6 main ways to migrate to Singapore:
- A spouse of a Singapore citizen (SC) or Permanent Resident (PR).
- Unmarried child below 21 years old born to a legal marriage or legally adopted by a PR or SC.
- An aged parent of a SC.
- Employment pass or S Pass.
- Entrepreneurial pass.
- Studying in Singapore.
- A foreign investor in Singapore.
Singapore is a well-rounded hub for education, business, and high salaried jobs. The Employment Pass route is best suited for those who are skill-based and pursue the hierarchy of job sectors. The study route on the other hand is for those who are taking education in Singapore. As for other options, the majority needs you to be related to a Singapore citizen or PR. But this criteria does not match with overseas investors or ultra high net worths who want to migrate and invest in Singapore.
Singapore Investment Program – The PR getaway for ultra high net worths, businessmen and mega investors.
Singapore values the overseas businessmen and investors who invest in the nation. It has created an atmosphere to welcome ultra high net worths, businessmen, and mega investors from all over the world.
The country’s legal system, strong security, the economic and political condition provides a healthy and scalable climate for foreign investors. But the country is not only interested in the money foreigners bring.
The Government appreciates the growth foreign investors and ultra high net worths bring to the country. So, it has multiple Singapore Investment Programs under Global Investment Program (GIP) to offer PR to you. This way you can get PR using the very investment that you are contributing to Singapore.
It’s like hitting two goals with one stone!
Get your PR + Grow your wealth by investing in Singapore.
What is the Global Investment Program (GIP) in Singapore?
The Global Investment Program (GIP) offers Singapore Permanent Resident status (PR) to eligible global investors. You will be selected based on your business and investment growth in Singapore. To qualify, you will need a substantial business track record and entrepreneurial background. This option allows you to build your business empire in Singapore as well as find a home here via PR.
How can I get immigration to Singapore via Singapore Investment Program?
There are 3 distinct ways to get immigration in Singapore via GIP. Option 1 and 2 are based on your business ventures. Option 3 explores ultra high net worths who wish to open a Family Office in Singapore.
GIP Business Owners Singapore Investment Program
1. Established Business Owners – Option 1
This option is suitable for experienced businessmen exploring Singapore for further growth and PR opportunities.
What are the eligibility criteria for becoming PR under Option 1?
- For this criteria, you must have at least 3 years of entrepreneurial and business track record.
- You must be running a company with an annual turnover of minimum S$200 million in the year of application. And at least S$200 million on average over the last 3 years.
- You must hold 30% shareholding if your company is privately held.
- You should be a part of the management team such as the C-Suite or Board of Directors of the company.
- Have to submit a 5-year business or investment plan. This should include your projection for projected expenditure and financial estimates you forecast for your company.
- Your company must be involved in one or more of the GIP approved business sectors. The list is given below.
2. Next Generation Business Owners – Option 2
This option is suited for rising stars of the business world. This option is for you if you are looking for PR. As well as planning to invest in Singapore to take your business to the next level.
What is the eligibility criteria for becoming PR under Option 2?
- To qualify, your immediate family must have 30% shareholding, Or be the largest shareholder in the company you are using to apply for the program.
- The company must have an annual turnover of minimum S$500 million in the year of application. And at least S$500 million on average over the last 3 years.
- You must be part of the management team of the company. This includes C-Suite or Board of Directors.
- Your company must be involved in one or more of the GIP approved business sectors. The list is given below.
- You will be assessed on your future business or investment plan in Singapore. So, make sure to include your proposed business activities and investment amount. Also addi in your scope of local job creation in your application.
3. GIP Family Office Singapore Investment Program
Family Office Principals – Option 3
This option is for high ultra net worths looking to invest in Singapore for their next generations. You might want to bring a share of your wealth to Singapore to invest. With the family office option, you can grow and nurture it for generations to come.
What is a family office?
A Family Office is a team or organization that is set up by a family. Their purpose is to oversee and manage the day-to-day administration of assets and investment. This is done to preserve the wealth to pass it to the next generation.
Usually, ultra high net worths set up family offices to secure their wealth for their future generations. You can either set up a formal company. Or, you can use the employees of your family’s business to run the family office in Singapore.
What are the benefits of the GIP Family Office Singapore Investment Program?
Lately, many ultra high net worths are coming to Singapore to set up a family office in Singapore. Where Asian prioritized choice was previously Hong Kong, Singapore is now their preferred choice. Even ultra high net worths from the USA and Europe are finding Singapore an excellent investment hub to park their wealth.
Read Is Singapore the perfect family office haven for foreign Ultra net worths?
The question is why?
- Singapore is economically, politically, and environmentally strong. Adding to it is its excellent financial sector and legal system. This benefits ultra high net worths like you to safely harbour your wealth for your next generations.
- Tax benefits in Singapore can help you to grow your wealth faster.
- The security offered by the banks and authorities protects your wealth.
- There are multiple Singapore Investment programs or options at your disposal. It offers more options to spread your money for better diversification.
- Singapore commercial properties like shophouses and family offices help you to set up profitable business ventures.
- On the other hand, you can invest in Singapore residential properties. This can serve both as your home and an investment avenue for sale in the future.
- Singapore has a high standard of living and less cultural distance for PRC clients. Hence, you can enjoy a comfortable lifestyle and a better future for your family.
What are the eligibility criteria for becoming PR under Option 3?
- You must have at least 5 years experience in entrepreneurial, investment or management track record.
- Must have net investable assets of at least S$200 million.
- Also, your company must be involved in one or more of the GIP approved business sectors (the list is given below.)
- Besides, you have to prepare a 5 year business plan that projects employment and annual financial estimates of your company. The plan will be assessed based on the role you play in your single family office, proposed investment sectors, assets types and geographical focus.
What are the GIP-approved business sectors?
- 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
- Visual arts businesses, e.g. auction houses, art logistics/storage
- Performing arts businesses
- Sports Businesses
- Family Office & Financial Services
How much does Singapore’s investment immigration cost?
For GIP, the investment immigration cost depends on the option you choose.
Established Business Owners – Option 1
You have to invest S$2.5 million in a new business entity. Alternatively, you can invest S$2.5 million to expand an existing business operation.
Next Generation Business Owners – Option 2
Under this option, you have to invest S$2.5 million in a GIP-approved fund that invests in Singapore-based companies.
Family Office Principals – Option 3
For this criteria, your immigration cost will be S$2.5 million investment in a new or existing Singapore-based single-family office. The family office must have Assets Under Management (AUM) worth a minimum of S$200 million.
How much are the Singapore investment immigration fees?
To apply for the GIP, you need to pay a nonrefundable application fee of $S10,000 to start the immigration process.
What are the documents needed to apply for GIP?
- 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 where needed
All the forms can be found in the Economic Development Board of Singapore (EDB).
How to apply for Singapore investment immigration for GIP?
- Pay the application fee of S$10,000 to the Government.
- Complete the necessary application forms (both online and hardcopy) and supporting documents. Then, submit them to EDB within 1 month of paying the fee.
- If all documents are correct, you will have to attend an interview with the EDB.
- Then, within 2-4 months, the Immigration & Checkpoints Authority (ICA) will issue Approval in Principle (AIP).
- Once you receive the AIP, you must make an investment according to your chosen option within 6 months.
- Also, submit evidence of investment via:
- Certified true copy of shared certificates
- As well as bank statements
- Also, attach other legal documents
- Additionally, provide Undertaking on the Terms and Conditions of the investment made.
- When your investment qualification is proven and verified by EDB, you will receive the Final Approval Letter from ICA.
- You must fulfill all your PR formalities and move to Singapore within 12 months of the final approval.
- When you receive your PR, you will also be issued a Re-entry Permit (REP) for 5 years. This will enable you to hold your PR even when you are outside Singapore.
- Upon expiry of REP, you can renew it for 3 or 5 years depending on your business performance.
Can I get Singapore Citizenship through the Global Investment Program (GIP)?
Yes! You will be eligible to apply for Singapore citizenship if you hold a PR and have lived in Singapore for at least 2 years.
Can my family become PR in Singapore via GIP?
- Your spouse and children under 21 years old can apply for PR together with your PR application. Male dependent applicants will be liable for National Services.
- Children 21 years old and above can apply for a 5 year Long Term Social Visit Pass (LTSVP). It is renewable based on the validity of your reentry permit.
- The parents of the main applicant can also apply for Long Term Social Visit Pass (LTSVP).
What’s Next?
If you are serious about applying for PR in Singapore, you need someone who can give you a Walk-In Experience of the Global Investment Program (GIP).
What is it like?
How to go about it?
What is the real scenario behind the program?
As a reputed property agent, I have collaborated with many overseas clients. I helped them to obtain valuable assets and investments in Singapore. But before engaging with me, most of my clients were worried about graft investment advice and contemptible services. So, I developed a one-stop concierge service to help my clients invest. Guarding my client’s best interest is my top priority. And since many of them look for PR, my network of experts can help them obtain that.
In regard to PR, my services include but are not limited to:
- Point of contact for enquires
- Advisory of latest country policies
- Facilitation of the process of visas, permits
- Facilitation of discussion and negotiations