Permanent Residency Scheme for Investors
Foreign entrepreneurs and investors who are interested in starting or investing in a business in Singapore and looking to settle here permanently can make use of the Global Investor Programme (GIP) to acquire a Permanent Residency (PR).
The GIP is aimed at attracting high net worth individuals with entrepreneurial experience into the country to boost the economy and encourage innovative ideas. This article will give a brief overview of the eligibility and minimum investment requirements required for foreign entrepreneurs under this scheme to get a PR.
To be eligible to apply for the Singapore PR status through the GIP, you need to fall under either of the following categories:
- Established Business Owners – Such applicants are required to have minimum 3 years of entrepreneurial experience with an annual turnover of at least $200 million in the year immediately preceding his/her application.
- Next Generation Business Owner – Such applicants are required to have minimum 30% of shareholding under the immediate family with an annual turnover of at least $500 million in the year immediately preceding his/her application.
- Founders of Fast Growth Companies – Such applicants must be a founder and one of the largest individual shareholders of the companies with a valuation pf at least $500 million.
- Family Office Principals – Such applicants must have a minimum of 5 years’ entrepreneurial experience and net investible assets of at least $200 million.
The Global Investor Programme has paved the way for numerous investors looking for a way to permanently settle in Singapore. With a successful business track record as well as a clear business plan for investment, the GIP can help you and your family members attain that well-deserved Permanent Residency.
All materials have been prepared for general information purposes only. The information presented in this document is not legal advice, is not to be acted on as such, may not be current and is subject to change without notice. Professional advisory should be sought before taking or refraining from any action as a result of the contents of this document.