Singapore Investment Immigration Programs Overview
Singapore’s passport is ranked the world’s second most powerful with citizens having visa free access to 176 countries. For investors seeking to start a business or invest in Singapore, the country offers the Global Investor Program which grants applicants permanent residence status. Applicants are required to reside in Singapore with the expectation that investments will generate economic activities benefitting the local business environment. Permanent residence status allows an individual to live and work in Singapore for at least five years.
The Global Investor Program (GIP) is for entrepreneurs or investors seeking to make investments in Singapore and want to reside in Singapore. Spouse and children under 21 can apply for permanent residence under the GIP program. However, male children will be liable for national service.
While Singapore does not have a CBI program, citizenship can be obtained after two years of permanent residence in Singapore. However, Singapore is a single citizenship country.
Under the GIP, the investor can choose one of the following options: Under the first option they can either invest 2.5 million Singapore dollar in a new business or expand an existing one. Under the second option, they can invest SGD 2.5 million in a GIP-approved fund that invests in companies based in Singapore.
How To Apply
Investors must apply through the Contact Singapore website. Investors can apply for permanent residency under the Global Investor Program if they have at least three years of a successful business track record and entrepreneurial background. They must provide audited financial statements of their company for the last three years. Investors who have a company in the real estate or construction-related industry must have a turnover of SGD 200 million in the most recent year and at least SGD 200 million per annum for the last three years. Investors who have a company in other sectors, must have a turnover of SGD 50 million in the most recent year and SGD 50 million per annum for the last three years.
Successful applicants will be given a renewable five-year reentry permit, allowing open travel in and out of Singapore. Citizens have visa free access to 176 countries, including Europe, the Schengen area and the United States.
Singapore has a strong economy and strategic location for trade and business and is one of Asia’s largest trading hubs. Singapore is ranked number 2 in the world by the World Bank for its ease of doing business. Singapore is also a modern and developed country with a low crime rate.