- Residency by Investment
Singapore is a 719 km. country located in Southeast Asia, which has an approximate population of 5.5 Million people. Singapore is famous for its economic development, standard of living and is deemed to be one of the safest, non-corrupted and business friendly atmosphere countries in the world.
The holder of Singaporean passport can travel throughout the world with minimum restrictions. In has to be mentioned that the country has reached that standard of living level through various types of investment programs. The infrastructure and excellent corporate governance is the key to success of Singaporean people. Immigration is not a new issue for Singapore, as there are different ethnic groups in the country (Malay, Indians, Chinese etc.).
The GIP is an opportunity for those investors and their families to enjoy the permanent residency status in exchange of certain amount investment in the country. Economic Development Board and Ministry of Manpower established this program, in order to carry on the economic success and development of Singapore. In order the investor to apply for GIP, he/she must meet several important requirements:
- The investor must invest at least 2.5 Million SGD in new company or in GIP approved fund.
- The investor must have at least 3 years entrepreneurial activity, which has to be proved by the audit statement. The long term successful business experience is a huge advantage for finishing the application process successfully.
- The last year turnover of the investor’s company must not be less than 50 Million SGD.
- The average turnover of the last 3 years of the investor’s company must not be less than 50 Million SGD.
- The investor must own at least 30 % of his company’s shares.
- In case if investor is willing to invest in a new company, he/she is obliged to provide the 5 year plan of the investment. The investor must fulfill the plan in 5 years, after the issuance of the investment visa.
- In second and fourth year, it is mandatory for the investor to submit the audit statement of the investment procedure.
The application procedure for the GIP is not an easy thing. There is an obligation for the applicants to have an appointment with the responsible authorities. There are a lot of rejections, as the threshold of the program is very high. The most common reason for the rejection is an investor’s business insecurity and inappropriate business plan. GIP gives opportunity to investor and his/her family members to apply for the Singapore Permanent Residency if his/her unmarried Children and spouse are under 21 years old. The sons of applicant who have a Permanent Residency of Singapore must attend the mandatory National Service when they become 18 years old. After 2 years, the applicant who has a permanent residency can apply for the citizenship. Singapore does not recognize dual citizenship and the applicant, who wants to get a Singapore passport, must be ready to renounce his/her present citizenship.
In case if investor and his/her family members want to travel in and out of Singapore, they have to renew their re-entry permits in every 5 years. In order to obtain 3 years renewal:
- The investor must create minimum 5 jobs for the local citizens and invest at least 1 Million SGD or reside in the country for more than 2, 5 years.
- In order to obtain 5 years renewal, the investor must meet all the optional requirements of the 3 year renewal.
As there are a lot of requirements and necessary documentation, the responsible authorities need approximately 8 months to finalize the process.
Located in the continent of Asia, Singapore does not share land borders with any countries.
English | Malay | Huayu | Mandarin |Tamil
Singapore dollar (SGD)
Unitary dominant-party parliamentary republic
Reasons to choose Singapore?
- High standard of living
- Business friendly
- High quality of eductation
- Opportunity to get Singapore citizenship after 2 years of residing in the country
- One of the best places to start business
- Safe and clean society
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Entry denied: Libya