The Singapore government introduced the GIP to attract serious investors into the country. An individual can get a PR status if he or she fulfills the eligibility criteria and invests in business sectors that are approved by the GIP. This Programme is to assist foreign investors and entrepreneurs to set up and develop their business in Singapore. It provides links to local business networks and more opportunities for business collaborations. It also provides a range of immigration facilitations.
The Global Investment Program is an investor visa that enables high-net personalities to get the Singaporean Permanent Residence for themselves and their families under the condition of making a minimum investment of 2.5M SGD. The GIP, however, will be applicable only to those investors and entrepreneurs who meet the minimum eligibility criteria for this scheme.
Under the GIP, the investor can choose one of the following options:
Option A: Invest at least SGD 2.5 million in a new business entity or to expand an existing business operation
Option B: Invest at least SGD 2.5 million in a GIP-approved fund that invests in Singapore-based companies
If you are applying for a PR in Singapore through the Global Investor Program you can invest in the following business sectors:
The following process has to be followed when applying for the PR though the GIP:
Make the Payment: The applicant must first pay the applicant fee to the Economic Development Board's bank account. The application must be submitted within one month of making the payment.
Download and Submit the Application Form: After making the payment towards the application fee, the applicant must download forms A, B, and C from the Contact Singapore website. The details to be filled in the forms include the applicant's personal details, the investment plan and the payment details made towards the application fee. The applicant must upload the filled application forms here.
Send hard copies of the documents to Contact Singapore: After uploading the forms send hard copies of the required documents to Contact Singapore. These documents include a declaration form for the application and investment plan, the payment transaction slip (for proof of payment), an undertaking on the terms and conditions of the GIP, etc. The entire list of documents to be submitted can be found here.
Interview Session: After receipt of all the documents, if the applicant is eligible for the PR he or she will be called to attend an interview session.
Approval-in-Principle PR Status: On approval of the application, the Immigration and Checkpoints Authority will issue an Approval-in-Principle (AIP) PR status that is valid for 6 months.
Make investment within 6 months: On issuance of the AIP PR status, the applicant will have to invest the minimum amount of $2.5 million either through option A of B.
Approval of PR status: The ICA will check the documentary evidence for proof of the investment and issue the applicant's final approval of the PR status.
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