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Singapore Permanent Residence Application under the Global Investor Programme (GIP)
Explore the pathway to securing permanent residency in the vibrant lion city through strategic investments and contributions to Singapore’s economy
Investment Scheme for Singapore PR Application - Global Investor Programme (GIP)
The Singapore Global Investor Programme (GIP) is a government-initiated programme that accords Singapore Permanent Resident status (PR) to eligible global investors who intend to drive their businesses and investment growth from Singapore. You will need to have a substantial business track record and successful entrepreneurial background to qualify for applying for Singapore PR under the GIP.
Our founder has extensive experience handling Singapore PR applications under the GIP since 2009. She has served a wide range of clients for their GIP applications, including Forbes-listed billionaires and well-known international entrepreneurs from mainland China, Hong Kong, Malaysia, Indonesia, Japan, Europe, and the United States.
At Galactic Spark, before you engage us, we will have a complimentary one-to-one consultation session with you to clearly understand your profile and conduct a profile analysis with you for your proposed GIP application. By doing that, you will be in a better position to make an informed decision before engaging us.
Please click here to know more about Galactic Spark.
Frequently Asked Questions for Singapore Permanent Residence application under the Global Investor Programme (GIP)
The Singapore government launched the Global Investor Programme (GIP) in 2004. It is an investment scheme catered for foreign investors who are interested in applying for Singapore Permanent Residence.
The GIP is administered by Contact Singapore, a division of the EDB that advises entrepreneurs and business owners who are interested in relocating to and investing in Singapore.
Over the years, EDB updated the qualifying criteria, investment options, and terms & conditions of the GIP from time to time. The most recent significant changes to the GIP were made in March 2023.
About 200 people were given Singapore permanent residency through the GIP from 2020 to 2022, said Singapore’s Minister of State for Trade and Industry Low Yen Ling in Parliament on 23 February 2023.
No, you do not need to have any type of Singapore immigration pass before you can apply for Singapore PR under the GIP.
Under the Enlistment Act, all male Singapore Citizens and Singapore PRs, unless exempted, are required to serve NS.
Male applicants who are granted Singapore PR status as the main applicant under the GIP are exempted from NS. Male children who obtain Singapore PR status by virtue of being the main applicant’s dependant will be liable for NS. Male dependants whose spouse is the main applicant may be liable to serve NS.
All male applicants are required to access www.cmpb.gov.sg for information on NS deferment, pre-enlistment process and Exit Permit requirements, before proceeding with their Singapore PR applications.
If you are a foreign investor with a substantial business track record and successful entrepreneurial background, when considering whether to apply for Singapore PR under the GIP, the first step is to determine whether you meet the qualifying criteria under the GIP.
Presently, there are four types of candidates as follows who are eligible to apply for Singapore PR under the GIP: –
- Established Business Owners;
- Next Generation Business Owners;
- Founders of Fast Growth Companies; and
- Family Office Principals.
There are detailed qualifying criteria for each of the above-mentioned four types of candidates for GIP applications. Please refer to Questions 6, 7, 8 and 9 on this webpage for further details.
If you would like to find out whether you are eligible to apply for Singapore PR under the GIP, please contact us now for a complimentary one-to-one consultation session.
To qualify as an “Established Business Owner” under the GIP, you need to meet all of the following qualifying criteria: –
(a) You must process at least 3 years of entrepreneurial and business track record;
(b) You should currently be running a company with an annual turnover of at least S$200 million in the year immediately preceding your application, and at least S$200 million per annum on average for the three years immediately preceding your application (Note: You may also consolidate up to 2 of your businesses, all of which must only be engaged in 1 or more of the industries listed in Annex B of the “GIP Factsheet” published by EDB, to meet the minimum turnover criteria. Please refer to item (d) below in this question for the list of industries contained in Annex B of the “GIP Factsheet”);
(c) If your company is privately-held, you should have at least 30% shareholding in the company (Note: If your company is publicly listed, you must be one of the largest individual shareholders); and
(d) Your company must be engaged in one or more of the following industries listed in Annex B of the “GIP Factsheet” published by EDB (Note: The following list is extracted from the “GIP Factsheet” updated on 2 August 2023, which may be subject to further updating by EDB from time to time):
- Aerospace Engineering
- Alternative Energy/Clean Technology
- Automotive
- Chemicals
- Consumer Business (e.g. flavours 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
- Art Businesses
- Visual arts businesses, e.g. auction houses, art logistics/storage
- Performing arts businesses
- Sports Business
- Family Office & Financial Services
To qualify as a “Next Generation Business Owner” under the GIP, you need to meet all of the following qualifying criteria: –
(a) Your immediate family should have at least 30% shareholding or is the largest shareholder in the company you use to qualify;
(b) This company’s annual turnover must be at least S$500 million in the year immediately preceding your application, and at least S$500 million per annum on average for the three years immediately preceding your application;
(c) You must be part of the management team of the company (e.g. C-suite/Board of Directors); and
(d) Your company must be engaged in one or more of the following industries listed in Annex B of the “GIP Factsheet” published by EDB (Note: The following list is extracted from the “GIP Factsheet” updated on 2 August 2023, which may be subject to further updating by EDB from time to time): –
- Aerospace Engineering
- Alternative Energy/Clean Technology
- Automotive
- Chemicals
- Consumer Business (e.g. flavours 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
- Art Businesses
- Visual arts businesses, e.g. auction houses, art logistics/storage
- Performing arts businesses
- Sports Business
- Family Office & Financial Services
To qualify as a “Founder of Fast Growth Companies” under the GIP, you need to meet all of the following qualifying criteria: –
(a) You must be a founder and one of the largest individual shareholders of a non-publicly listed company with a valuation of at least S$500 million;
(b) Your company must be invested into by reputable Venture Capital/Private Equity firms; and
(c) Your company must be engaged in one or more of the following industries listed in Annex B of the “GIP Factsheet” published by EDB (Note: The following list is extracted from the “GIP Factsheet” updated on 2 August 2023, which may be subject to further updating by EDB from time to time): –
- Aerospace Engineering
- Alternative Energy/Clean Technology
- Automotive
- Chemicals
- Consumer Business (e.g. flavours 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
- Art Businesses
- Visual arts businesses, e.g. auction houses, art logistics/storage
- Performing arts businesses
- Sports Business
- Family Office & Financial Services
To qualify as a “Family Office Principal” under the GIP, you need to meet all of the following qualifying criteria: –
(a) You must process at least 5 years of entrepreneurial, investment or management track record; and
(b) You must have net investible assets of at least S$200 million (Note: Net Investible Assets include all financial assets, such as bank deposits, capital market products, collective investment schemes, premiums paid in respect of life insurance policies and other investment products, excluding real estate. Contact Singapore reserve the right to exercise judgement in determining the suitability of the applicant’s Net Investible Assets).
If you are eligible to apply for Singapore PR under the GIP, there are three investment options as follows for you to select under the GIP (i.e., Option A, Option B or Option C): –
- Option A
Demonstrate an investment of minimally S$10 million in a new business entity or in the expansion of an existing business operation in Singapore.
- Option B
Invest S$25 million in a GIP-select fund that also invests in Singapore-based companies.
As at 1 June 2023, there are 7 GIP-select funds as follows: –
(i) B Capital Group Singapore Pte Ltd
(ii) East Ventures Advisory Pte Ltd
(iii) GGV Capital Pte Ltd
(iv) HHLR Management Pte Ltd
(v) Insignia Ventures Partners Pte Ltd
(vi) Jungle Ventures Pte Ltd
(vii) Vertex Venture Management Pte Ltd
Please refer to http://www.edb.gov.sg/gip for the updated list of GIP-select funds.
It is important to take note that an investment in a GIP-select fund is a decision made solely by the applicant and the applicant is advised to be familiar with any additional charges imposed by the individual GIP-select Fund Company before making an investment at their own responsibility. While the GIP-select funds are assessed on their investment and operational capabilities, the selection does not serve as an endorsement of any fund. Contact Singapore shall not be held responsible in any way or liable in any way for any claims or losses (including, without limitation, damages for loss of profits, business interruption or loss of information) arising from consequences that may be incurred directly or indirectly to the applicant as a result of investing in a GIP-select fund.
- Option C
Establish a Singapore-based Single-Family Office with Assets-Under-Management (AUM) of at least S$200 million, where minimally S$50 million must be deployed in any of the 4 investment categories of:
(i) equities, REITS or business trusts listed on Singapore-approved exchanges;
(ii) qualifying debt securities listed on the Monetary Authority of Singapore (MAS)’s enquiry system;
(iii) funds distributed by Singapore-licensed/registered managers or financial institutions; and
(iv) private equity investments in non-listed, Singapore-based operating companies.
(Note: Offshore assets can be qualified as part of the AUM requirement, provided at least S$50 million investable AUM has been deployed into any of the specified 4 investment categories in Singapore.)
If you apply for Singapore PR under the GIP as (a) an “Established Business Owner”; or (b) a “Next Generation Business Owner”; or (c) a “Founder of Fast Growth Companies”, you may select any of the three investment options listed above (i.e., Option A, Option B or Option C) as the investment option for your GIP application.
If you apply for Singapore PR under the GIP as a “Family Office Principal”, you can only select Option C as the investment option for your GIP application.
Your spouse and unmarried children below the age of 21 as at the date of application submission are eligible to be included as dependants under your GIP application. Please note that male children who obtain Singapore PR status by virtue of being your dependant will be liable for National Service (NS). Male dependants whose spouse is the main applicant may be liable to serve NS. Please visit www.cmpb.gov.sg for more information on NS in Singapore.
Your parents and unmarried children above the age of 21 years as at the date of application submission are not eligible to be included as dependants under your GIP application. Instead, they can apply for a Singapore Long-Term Visit Pass (LTVP), which is tied to the validity of your Singapore Re-Entry Permit (REP).
Yes, a Singapore PR must have a valid Re-Entry Permit (REP) to keep his/her Singapore PR status while they travel out of Singapore. Maintaining the validity of the REP is essential for every Singapore PR. A Singapore PR who remains outside Singapore without a valid REP will lose his/her PR status.
If your application for Singapore PR under the GIP is successful, upon the formalisation of your Singapore PR, you will be issued a REP that is valid for 5 years by the Immigration & Checkpoints Authority of Singapore (ICA). To renew your REP before its expiry date, you will need to meet the Re-Entry Permit Renewal Conditions by the 5th year of your Singapore PR status.
The Re-Entry Permit Renewal Conditions vary depending on (i) whether you are seeking a 5-year REP renewal or a 3-year REP renewal; and (ii) the investment option you selected in your GIP application (i.e., out of Option A, Option B or Option C).
The following Re-Entry Permit Renewal Conditions are extracted from the “GIP Factsheet” updated on 2 August 2023 (which may be subject to further updating by EDB from time to time): –
For a 5-year REP Renewal
Option A applicants
(i) You must have fulfilled the investment conditions under Option A of the GIP; AND
(ii) Your Option A Company in Singapore must employ minimally 30 employees (at least half of whom must be Singapore Citizens), out of which there must be at least 10 incremental employees. (Note: If you have invested into an existing Singapore-based company/Family Office, only incremental numbers for employment from the date of Final Approval of your PR status may be taken into consideration for the purpose of determining the fulfilment of the economic conditions for your REP renewal. This company must be engaged in one of the industries listed in Annex B of the “GIP Factsheet” and your shareholding in the company must be at least 30%); AND
(iii) You or all your dependants, who obtained PR under your GIP application, must have resided in Singapore for more than half of the time.
Option B applicants
(i) You must have fulfilled the investment conditions under Option B of the GIP; AND
(ii) Maintain the S$25 million investment in a GIP-select fund; AND
(iii) You or all your dependants, who obtained PR under your GIP application, must have resided in Singapore for more than half of the time.
Option C applicants
(i) You must have fulfilled the investment conditions under Option C of the GIP; AND
(ii) The Single-Family Office in Singapore that you establish must employ at least 5 incremental Family Office professionals (with at least 3 Singapore Citizens) (Note: The 5 professionals in the family office must hold advisory roles or board appointments in functions related to legal, tax, investment or philanthropy) and maintain the S$50 million AUM across any of the 4 investment categories (Note: Option C applicants are expected to submit documentary proof of the deployment of their S$50 million AUM in Singapore. Failure to do so may affect their REP renewal); AND
(iii) You or all your dependants, who obtained PR under your GIP application, must have resided in Singapore for more than half of the time.
For a 3-year REP Renewal
Option A applicants
(i) You must have fulfilled the investment conditions under Option A of the GIP; AND
(ii) EITHER (A) or (B)
(A) Your Option A Company in Singapore must employ minimally 30 employees (at least half of whom must be Singapore Citizens), out of which there must be at least 10 incremental employees. (Note: If you have invested into an existing Singapore-based company/Family Office, only incremental numbers for employment from the date of Final Approval of your PR status may be taken into consideration for the purpose of determining the fulfilment of the economic conditions for your REP renewal. This company must be engaged in one of the industries listed in Annex B of the “GIP Factsheet” and your shareholding in the company must be at least 30%); OR
(B) You or all your dependants, who obtained PR under your GIP application, must have resided in Singapore for more than half of the time.
Option B applicants
(i) You must have fulfilled the investment conditions under Option B of the GIP; AND
(ii) EITHER (A) or (B)
(A) Maintain the S$25 million investment in a GIP-select fund; OR
(B) You or all your dependants, who obtained PR under your GIP application, must have resided in Singapore for more than half of the time.
Option C applicants
(i) You must have fulfilled the investment conditions under Option C of the GIP; AND
(ii) EITHER (A) or (B)
(A) The Single-Family Office in Singapore that you establish must employ at least 5 incremental Family Office professionals (with at least 3 Singapore Citizens) (Note: The 5 professionals in the family office must hold advisory roles or board appointments in functions related to legal, tax, investment or philanthropy) and maintain the S$50 million AUM across any of the 4 investment categories (Note: Option C applicants are expected to submit documentary proof of the deployment of their S$50 million AUM in Singapore. Failure to do so may affect their REP renewal); OR
(B) You or all your dependants, who obtained PR under your GIP application, must have resided in Singapore for more than half of the time.
It is important to have a clear understanding of the REP renewal conditions right at the start when you consider applying for Singapore PR under the GIP, as that may affect your business planning and your family relocation planning for the next few years.
If you have any questions on the REP renewal conditions under the GIP, please contact us now for a complimentary one-to-one consultation session.
You are eligible to apply for Singapore Citizenship after being a Singapore PR for at least two years. We also provide consultancy services for Singapore Citizenship applications. Please click here for further information on Singapore Citizenship application.
Generally, there are following seven steps to process Singapore PR applications under the GIP: –
- Applicant submits completed GIP Application Forms (both online and hardcopy) and all the required supporting documents to EDB;
- Applicant is invited for an interview with EDB;
- If Applicant meets the assessment criteria, the Immigration & Checkpoints Authority of Singapore (ICA) will issue an Approval-in-Principle (AIP) status to the Applicant which is valid for 6 months;
- Applicant fulfils the investment conditions under the selected investment option, within 6 months from the date of the AIP letter;
- Upon making the investment, Applicant provides evidence of the investments made (e.g. Certified true copy of the share certificates, bank statements and other legal documents) and submits to EDB the Investment Undertaking on the Terms and Conditions of the investment made;
- Once investment documents are verified by EDB, ICA will issue the Final Approval letter (Option C applicants must demonstrate the minimum S$50 million has been deployed into the stipulated investment categories no later than 12 months from the date of the Final Approval letter); and
- Applicant must formalise his/her Permanent Residence status in Singapore within 12 months from the date of the Final Approval letter.
The documentation requirements for Singapore PR application under the GIP are contained in the “GIP Factsheet” which is available for download from the website of Singapore’s Economic and Development Board (EDB) and such “GIP Factsheet” may be updated by EDB from time to time.
The list of supporting documents for GIP applications varies depending on (i) the type of the GIP applicant’s profile and (ii) which investment option (out of Option A, Option B or Option C) that the GIP applicant selects for his/her GIP application.
Compared to Singapore PR application under the Professional, Technical Personnel & Skilled Workers Scheme (PTS Scheme) or Singapore PR application under the Family Ties Scheme, Singapore PR application under the GIP involves a much more complicated process and requires larger volume of the supporting documents and information.
At Galactic Spark, we will guide you on exactly what documents and information you need to prepare for your GIP application after having a thorough discussion with you on your application case, with a view to highlighting the merits of your case and maximising the chance of success for your GIP application. The documents we require from you may not only be those required in EDB’s applicable documentation list, but also any other supporting document we assess (through our experience) that might best enhance your application package.
After you provide us with the supporting documents, we will review all the supporting documents carefully and provide you with our comments/feedback.
After we work with you to get all the supporting documents ready, we will assist you in filing the forms for your Singapore PR application under the GIP (including the GIP Application Form and the ICA Form 4).
After that, we will provide you with the draft forms and discuss them with you to finalize the forms. It is crucial to fill in all the details on the form accurately with a good strategy to highlight the merits of your GIP application.
EDB does not require the applicant to submit any cover letter for Singapore PR application under the GIP. However, we will prepare a customised cover letter for you, listing all the items that we are submitting to EDB for your application.
If you engage our services, we will assist you in submitting your Singapore PR application under the GIP to EDB. It generally involves the following two steps for the application submission: –
(i) Submitting your GIP Application Form to EDB online; and
(ii) Submitting hardcopies of your GIP Application Form and all the supporting documents to EDB.
Based on our experience, the current processing time for Singapore PR applications under the GIP may take 12 to 18 months from the date of application. This is subject to complete submission of all required supporting documents at the point of application. Your application will also be subject to due diligence checks.
If you engage our services, we will monitor the progress and assist in following up with EDB on your application status accordingly.
During the application processing time, EDB may contact you through email or mail for further supporting documents or information. If that occurs, don’t worry; we will provide our post-submission support. You just need to provide us with a copy of EDB’s correspondence sent to you, and we will advise you on the actions required for the next step.
During the application processing time, if there is any change in the following information, please inform us the soonest possible. We will discuss with you and assist you in updating your information with EDB for your Singapore PR application under the GIP:
(i) your residential address;
(ii) New achievements in your business or changes to your business plan;
(iii) your marital status; or
(iv) your educational qualifications (i.e., new qualification).
All Singapore PR applications under the GIP are subject to EDB and ICA’s approval. Like any other immigration consultancy firm, Galactic Spark cannot guarantee the success of your Singapore PR application under the GIP. Our key role is to provide valuable advice and approach to assist you in presenting a well-prepared application package to EDB.
If your Singapore PR application under the GIP is successful, you will receive an Approval-in-Principle (AIP) letter from ICA.
The AIP letter will list the actions you need to take in order for you to receive the Final Approval letter from ICA for your Singapore PR application under the GIP. Generally, you will need to fulfil the investment conditions under the selected investment option, within 6 months from the date of the AIP letter.
Upon making the investment, you will need to provide evidence of the investments made (e.g. Certified true copy of the share certificates, bank statements and other legal documents) and submit to EDB the Investment Undertaking on the Terms and Conditions of the investment made.
Once you have received your AIP letter, please send a copy of the letter to us as soon as possible, and we will guide you on fulfilling the requirements set out in the AIP letter within its validity period.
After you have completed all the actions required in the AIP letter within its validity period, you will expect to receive the Final Approval letter from ICA for your Singapore PR application under the GIP. Upon receiving such Final Approval letter, you will need to follow the instructions set out in the Final Approval letter to complete your Singapore PR registration formalities at ICA within 12 months from the date of the Final Approval letter.
Once you have completed the Registration for Singapore Permanent Residence, congratulations, you have officially become a Singapore PR!
Yes, apart from providing immigration consultancy services, Galactic Spark is also a Filing Agent (FA) registered with Singapore’s Accounting and Corporate Regulatory Authority (ACRA). We will be happy to assist you in incorporating new Singapore companies and provide corporate secretarial services to your Singapore companies.
If your Singapore PR application under the GIP is unfortunately unsuccessful, you will receive a rejection letter from EDB.
The rejection letter from EDB usually does not state any reason for rejecting your Singapore PR application under the GIP.
Once you have received your rejection letter, please send a copy of the letter to us as soon as possible. We will discuss with you in detail the next course of action.
If you have any questions or want to discuss your application case with us, please get in touch with us now for a complimentary one-to-one consultation session!
