Singapore Permanent Residency programme
The Singaporean Global Investor Programme is a scheme that enables prosperous investors to procure permanent residency in Singapore by injecting no less than SGD 10 million into a qualifying investment.
The petitioners must satisfy the eligibility requirements and provide tangible evidence regarding their affluence and the provenance of their funds.
While matrimonial partners and underage children can profit from the initiative, forebears and progeny aged 21 and over are not deemed eligible. Subsequently, the contenders may acquire the privilege to petition for naturalization after possessing permanent residency for at minimum of two years.
Advantages of Singapore Permanent Residency
- Dependents include: Spouse and children under 21
- Permanent Residence permits 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
Singapore Permanent Residency Investment Options
- Option A (Eligibility A, B or C acceptable)
Invest SGD 10 million in a new business entity or in the expansion of an existing business operation in Singapore. Own at least 30% of company in specified industries. - Option B (Eligibility A, B or C acceptable)
Invest SGD 25 million in a GIP-select fund - Option C (Eligibility A, B, C or D acceptable)
Establish a Singapore-based Single-Family Office with Assets-Under-Management of at least SGD 200 million. At least SGD 50 million must be transferred to SG and deployed in any of the following:
- Equities, REITs or Business Trusts listed on SG exchanges;
- Qualifying debt securities (e.g., bonds, notes, & certificates of deposit) listed on MAS’ Qualifying Debt Securities Enquiry System;
- Funds distributed by Singapore-licensed managers that are listed on MAS’ Financial Institutions Directory; and
- Private equity injection in non-listed, Singapore-based businesses
Singapore Permanent Residency Requirements
- Clean criminal record
- Eligibility A – Established Business Owner
At least 3 years entrepreneurial and business track record
Company with turnover at least SGD 200 million p.a. (i) on average over the last 3 years, and (ii) in the past year. Can consolidate up to 2 businesses. Business in specified industries.
If privately owned, must hold at least 30%. If publicly listed, applicant must be one of the largest individual shareholders. - Eligibility B – Next Generation Business Owners
Your immediate family has at least 30% or is the largest shareholder in a company that has annual turnover at least SGD 500 million p.a. (i) on average over the last 3 years, and (ii) also in the past year.
You are part of management of this company and the company is engaged in specified industries. - Eligibility C – Founders of Fast Growth Companies
You are a founder and one of the largest individual shareholders of a non-publicly listed company with valuation at least SGD 500 million. Company invested into by reputable venture capital/private equity firms. Company engaged in specified industries. - Eligibility D – Family Office Principals
At least 5 years entrepreneurial investment or management track record. You must have net investible assets at least SGD 200 million.
Process
- Approval in Principle (AIP) issued in about 6-9 months; investment must be made 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 conditions.
FAQ
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.
- Clean criminal record
- Eligibility A – Established Business Owner
At least 3 years entrepreneurial and business track record
Company with turnover at least SGD 200 million p.a. (i) on average over the last 3 years, and (ii) in the past year. Can consolidate up to 2 businesses. Business in specified industries.
If privately owned, must hold at least 30%. If publicly listed, applicant must be one of the largest individual shareholders. - Eligibility B – Next Generation Business Owners
Your immediate family has at least 30% or is the largest shareholder in a company that has annual turnover at least SGD 500 million p.a. (i) on average over the last 3 years, and (ii) also in the past year.
You are part of management of this company and the company is engaged in specified industries. - Eligibility C – Founders of Fast Growth Companies
You are a founder and one of the largest individual shareholders of a non-publicly listed company with valuation at least SGD 500 million. Company invested into by reputable venture capital/private equity firms. Company engaged in specified industries. - Eligibility D – Family Office Principals
At least 5 years entrepreneurial investment or management track record. You must have net investible assets at least SGD 200 million.
To apply for the Singapore Global Investor Programme the applicant must:
- Approval in Principle (AIP) issued in about 6-9 months; investment must be made 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 conditions.
| For a 3-year renewal | ||
| Option A applicants | Option B applicants | Option C applicants |
| i. You must have fulfilled the investment conditions under Option A of the GIP; AND | i. You must have fulfilled the investment conditions under Option B of the GIP; AND | i. You must have fulfilled the investment conditions under Option C of the GIP; AND |
| ii. EITHER (A) or (B) | ii. EITHER (A) or (B) | 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 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. | (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. | (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) and maintain the S$50 million AUM across any of the 4 investment categories 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. |
| For a 5-year renewal | ||
| Option A applicants | Option B applicants | Option C applicants |
| i. You must have fulfilled the investment conditions under Option A of the GIP; AND | i. You must have fulfilled the investment conditions under Option B of the GIP; AND | i. You must have fulfilled the investment conditions under Option C of the GIP; AND |
| 14 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 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. | 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. ii. Maintain the S$25 million investment in a GIP-select fund 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) and maintain the $50 million AUM across any of the 4 investment categories AND You or your dependants, who obtained PR under your GIP application, must have resided in Singapore for more than half of the time. |
Yes, legally married spouse and children who are under 21 years old (including adopted children) that are financially dependent on the applicant may be included.
No. however parents and older children are entitled to obtain a 5-year visit visa
Yes, the applicant must provide substantial evidence of their wealth as well as audited reports from the companies that they have managed.
There are three options of investment under the Singapore GIP. Under the cheapest option, the applicant must make a minimum investment of at least SGD 10 million in a qualifying investment.
The applicant must invest in one of the following:
- A new business entity or expansion of an existing business in an approved business sector (SGD 10 million).
- An approved fund that invests in Singapore based companies (SGD 25 million)
- Singapore based family office (SDG 50 million)
Singapore Global Investor Program applicants can invest in the following business sectors:
- Aerospace Engineering;
- Alternative Energy/Clean Technology;
- Automotive;
- Chemicals;
- Consumer Business;
- Electronics;
- Energy;
- Engineering Service;
- Healthcare;
- InfoComm Products and Services;
- Logistics and Supply Chain Management;
- Marine and offshore Engineering;
- Natural Resources;
- Media and Entertainment;
- Medical Technology;
- Nanotechnology,
- Safety and Security;
- Space;
- Shipping;
- Pharmaceuticals & Biotechnology;
- Precision Engineering;
- Professional Services (e.g., consulting, design, etc.);
- Arts businesses (visual arts and performing arts);
- Sports businesses;
- Family offices;
- Financial Services;
Yes, the applicant is totally free to make additional investments or other acquisitions such as property.
No, the investment cannot be transferred.
Singapore Global Investor Programme holders may become eligible to apply for citizenship after having lived in Singapore and held permanent residence for at least 2 years.
No, citizens of Singapore must renounce all other Citizenships.
Overseas income (not earned in Singapore) is not subject to Singapore taxation.
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.
