SINGAPORE

Advantages

  • Dependents included:
    • Spouse
    • Children under 21
  • Permanent Residence provided to applicant and dependents including right to live, work and study
  • Parents and children over 21 can obtain 5-year visit visa
  • High quality healthcare and education system
  • Tax efficient jurisdiction
  • Eligible to apply for Citizenship after holding permanent residence for at least 2 years

Investment Options

Option A

  • Invest at least SGD 2.5 million in a new business entity or in the expansion of an existing business in an approved business sector

Option B

  • Invest at least SGD 2.5 million in an approved fund that invests in Singapore-based companies

Option C

  • Invest at least SGD 2.5 million in a Singapore base Family Office having assets under management of at least SGD 200 million

Requirements

  • Clean criminal record
  • Substantial entrepreneurial experience (min 3 years’), and must provide 3 years of audited financial statements
  • Must be running a business with annual turnover of at least SGD 200 million p.a. on average over the last 3 years
  • Applicants can consolidate their businesses to meet the minimum turnover requirement
  • If the company is privately owned, the applicant must have a shareholding of at least 30% of the company.
  • Must submit a detailed business or investment plan, including key milestones, to be realised within 3 years of the investment
  • The business must be in an approved industry sector

Process

  • Payment of application fee to the Singapore Government
  • Application forms and supporting documents must be submitted within 1 month of payment of the application fee
  • Applicant attends interview with the Economic Development Board of Singapore
  • Approval in Principle (AIP) issued in 2 – 4 months
  • Must make investment within 6 months of AIP
  • Final approval granted upon proof of qualifying investment
  • Move to Singapore and complete permanent residence (PR) formalities within 12 months from final approval
  • Upon obtaining PR, a Re-Entry Permit (REP) is issued for 5 years to enable PR to be maintained when outside Singapore
  • Upon expiry the REP is renewed for 3- or 5-years subject to business performance

FAQ

What is the Singapore Global Investor Programme?

The Singapore Global Investor Programme is a residence by investment program. It provides Permanent Residence status in Singapore to investors with substantial business track record and successful entrepreneurial background who intend to drive their business and investment growth from Singapore.

Who is eligible to apply for the Singapore Global Investor Programme?

To qualify the applicant must meet eligibility requirements which include:

  • Clean criminal record
  • Have a substantial entrepreneurial background (at least 3 years’ experience), and will need to provide 3 years of audited financial statements
  • Have run a business with annual turnover of at least SGD50 million in the year prior to application and at least SGD50 million p.a. on average over the last 3 years.
  • Applicants can consolidate their businesses to meet the minimum turnover requirement
  • If the company is privately owned, the applicant must have a shareholding of at least 30%.
  • Submit a detailed business or investment plan, including key milestones, which must be realised within 3 years of the date of investment
  • The business must be in an approved industry sector
What is the process to apply for the Singapore Global Investor Programme?

To apply for the Singapore Global Investor Programme the applicant must:

  • Pay an application fee to the Singapore Government
  • Submit application forms and supporting documents within 1 month of payment of the application fee
  • Attend an interview with Contact Singapore
  • Wait for an Approval in Principle (AIP) – typically issued in 2 – 4 months
  • Make the investment within 6 months of the AIP
  • Obtain final approval upon proof of qualifying investment
  • Move to Singapore and complete permanent residence (PR) formalities within 12 months
Are there any residency requirements after obtaining Permanent Residence?

Yes, if a permanent resident of Singapore leaves Singapore they will be issued a 5 year Re-Entry Permit to enable PR to be maintained when outside Singapore.

Upon expiry the REP may be renewed for 3- or 5-years subject to:

  • The number of employees hired; and
  • The business expenditure; and
  • The amount of time spent in Singapore
Can the applicant’s spouse and minor children also benefit from the Singapore Global Investor Programme?

Yes, the spouse (or life partner) and children who are under 21 years old (including adopted children) that are financially dependent on the applicant may be included.

Can parents or children over 21 be included in the Singapore Global Investor Programme?

No. however parents and older children are entitled to obtain a 5 year visit visa

Does the applicant have to prove the source of funds?

Yes, the applicant must provide substantial evidence of their wealth as well as audited reports from the companies that they have managed.

What is the minimum investment amount?

The applicant must make a minimum investment of at least SGD 2.5 million in a qualifying investment.

What is a qualifying investment?

The applicant must invest in one of the following:

  • A new business entity in an approved business sector.
  • The expansion of an existing business in an approved business sector.
  • An approved fund that invests in Singapore based companies
What are the approved business sectors?

Singapore Global Investor Program applicants can invest in the following business sectors:

  • Automotive;
  • Consumer Business;
  • Education;
  • Electronics;
  • Energy;
  • Environment;
  • Healthcare;
  • Logistics and Supply Chain Management;
  • Natural Resources;
  • Pharmaceuticals & Biotechnology;
  • Professional Services, etc.

This list is not exhaustive. The full list is available at:.

https://www.edb.gov.sg/en/how-we-help/global-investor-programme.html

Can the applicant make other investments in Singapore after the qualifying investment?

Yes, the applicant is totally free to make additional investments or other acquisitions such as property.

Can the investment be transferred to family members who accompany the applicant?

No, the investment cannot be transferred.

When can Singapore Global Investor Programme holders apply for citizenship?

Singapore Global Investor Programme holders will become eligible to apply for citizenship after having lived in Singapore and held permanent residence for at least 2 years.

Does Singapore allow dual citizenship?

No, citizens of Singapore must renounce all other Citizenships.

Can the Singapore Global Investor Programme holder keep their tax residence outside of Singapore?

No, once the applicant obtains permanent residence in Singapore the applicant will be subject to Singapore taxation.

Will the Singapore Global Investor Programme Holder be subject to worldwide taxation?

No, overseas income (not earned in Singapore) is not subject to Singapore taxation and need not be declared

Must the applicant register with the tax office in Singapore?

Yes and the applicant must obtain a Singapore Tax ID number.

The present document is intended for guidance and general information only and does not constitute or purport to provide you with legal advice. Such information is subject to changes without notice. Each case is unique and depends on the facts and circumstances of the individual and due consideration should be taken if applying the general information to your personal situation. For an evaluation of your personal circumstances one of our legal team would be happy to assist.