Overview of the Global Investor Program (GIP)

Singapore offers a pathway to permanent residency and eventual citizenship through its Global Investor Program (GIP). This program is specifically designed for wealthy foreign nationals who are interested in making significant economic contributions to the country. The GIP aims to attract experienced entrepreneurs, business owners, and managers who wish to establish their presence in Singapore.

Investment Requirements

To qualify for the GIP, applicants must make a substantial investment in Singapore. There are three main options available:

Option A: Invest a minimum of SGD 10 million into a new or existing business in Singapore. This investment must include paid-up capital, and the applicant is required to hire at least 30 employees, with at least half being Singaporean citizens and 10 being new hires if the business was already operational.

Option B: Invest SGD 25 million into a fund that is approved by the Singapore Economic Development Board (EDB), which focuses on investing in Singapore-based companies.

Option C: Establish a single-family office with assets under management of at least SGD 200 million. At least SGD 50 million of these assets must be deployed and maintained throughout the five-year residence period in specified investment categories. Additionally, applicants must hire at least five family office professionals, with three being Singaporean citizens.

Application Process

The application process for the GIP involves several steps:

• Applicants must submit an online personal profile along with a proposed investment plan using an e-application form.
• Supporting documentation must be provided in hard copy.
• After submission, applicants are required to attend an interview.

If all criteria are met, the Immigration and Checkpoints Authority (ICA) will issue an approval in principle, valid for six months during which time the requisite investment must be made.

Permanent residence status must be formalized within one year of receiving final approval.

Family Inclusion

The main applicant can include their spouse and dependent children under 21 years old in their application for permanent residence. However, parents and unmarried children over 21 years old cannot be included but may apply for a long-term visit pass instead.

Maintaining Residency Status

Once granted permanent residency, investors receive a re-entry permit (REP) valid for five years. To maintain this status while traveling outside of Singapore, it is essential to hold a valid REP. Renewal of the REP after five years depends on fulfilling specific conditions related to business milestones or physical presence in Singapore.

Pathway to Citizenship

After maintaining permanent residency for two years, investors may apply for Singaporean citizenship. It is important to note that Singapore does not allow dual citizenship; therefore, individuals seeking citizenship should be prepared to renounce any other nationalities they may hold.

Benefits of Citizenship by Investment

Investors who successfully obtain citizenship through this program enjoy numerous benefits:

1. The right to live, work, and study in one of Asia’s most stable and prosperous countries.
2. Access to high-quality public services including healthcare and education.
3. A favorable tax regime that encourages foreign investments.
4. Visa-free or visa-on-arrival access to 193 destinations worldwide with a strong Singaporean passport.

In summary, the Global Investor Program provides an attractive opportunity for wealthy individuals looking to invest significantly in Singapore while also providing their families with access to high living standards and potential citizenship after meeting residency requirements.