{"id":56097,"date":"2020-04-24T21:13:07","date_gmt":"2020-04-25T01:13:07","guid":{"rendered":"https:\/\/www.investmentimmigration.com\/?p=56097"},"modified":"2020-04-24T21:13:12","modified_gmt":"2020-04-25T01:13:12","slug":"singapore-revamps-global-investor-programme-to-add-categories-and-investment-option","status":"publish","type":"post","link":"https:\/\/www.investmentimmigration.com\/singapore-revamps-global-investor-programme-to-add-categories-and-investment-option\/","title":{"rendered":"Singapore Revamps Global Investor Programme To Add Categories and Investment Option"},"content":{"rendered":"\n<p>Singapore has expanded its <a href=\"https:\/\/www.investmentimmigration.com\/singapore-residence-investor-program\/\">Global Investor Programme<\/a> by introducing three new categories of eligible investor and a third investment option.<\/p>\n\n\n\n<p>Introduced in 2004, the GIP offers a fast-track route to permanent residence in Singapore to wealthy individuals investing at least $2.5 million in either a new or expanding business or a GIP fund investing in companies based in Singapore.<\/p>\n\n\n\n<p>The changes to the program, which came into force on March 1, 2020, have been introduced to help Singapore maintain its status as a key hub for high-growth tech companies and investments in the region.&nbsp;<\/p>\n\n\n\n<p>The objective of these changes is to attract more high-performing businesses to the country and to bolster the country\u2019s banking and finance sector through establishment of more single-family offices.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Existing Category of Eligible GIP Investors\u00a0<\/h2>\n\n\n\n<p><strong>Established Business Owners<\/strong><\/p>\n\n\n\n<ul><li>Investor must have at least three years of experience as entrepreneur or business owner.<\/li><li>Company must have annual turnover of at least $200 million, increased from $50 million earlier, in the last year and average $200 million turnover in the three years prior to the application.&nbsp;<\/li><li>At least 30% ownership in the business\/company, if privately owned.&nbsp;<\/li><\/ul>\n\n\n\n<p><strong>New Categories of Eligible GIP Investors&nbsp;<\/strong><\/p>\n\n\n\n<p><strong>Next-Generation Business Owners<\/strong><\/p>\n\n\n\n<ul><li>The immediate family must own at least 30% in the company or must be its biggest shareholder.&nbsp;<\/li><li>Last year\u2019s annual turnover must be $500 million and the average turnover in last three preceding years too must be $500 million or higher.&nbsp;<\/li><li>Applicant must be actively involved in the management of the company and must be a part of the management team like the company\u2019s Board of Directors.&nbsp;<\/li><\/ul>\n\n\n\n<p><strong>Founders of Fast-Growth Companies<\/strong><\/p>\n\n\n\n<ul><li>Applicant must be founder and one of the largest shareholders of the company.<\/li><li>The company\u2019s net worth must be at least $500 million.<\/li><li>Reputed venture capital or Private Equity firms must have invested in the company.&nbsp;<\/li><\/ul>\n\n\n\n<p><strong>Family Office Principals<\/strong><\/p>\n\n\n\n<ul><li>Have Assets-under-Management, including bank deposits, capital market investments, financial assets, and other collective investment schemes, of at least $200 million.<\/li><li>Five years of experience as an entrepreneur or in investment or management.<\/li><\/ul>\n\n\n\n<p>In all four categories, the company must be engaged in business in an eligible industry.<\/p>\n\n\n\n<p><strong>Deployment of Investments&nbsp;<\/strong><\/p>\n\n\n\n<p>Eligible individuals must invest at least 2.5 million Singapore dollars in<\/p>\n\n\n\n<ol><li>A new or existing business in Singapore, or<\/li><li>A GIP-approved fund that invests in Singapore-based companies, or<\/li><li>A new or existing Singapore-based single-family office.<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\">The GIP Application Process<\/h2>\n\n\n\n<p>The application process commences with submission of the GIP forms to the Economic Development Board. After an interview, applicants fulfilling the eligibility criteria will receive an Approval-in-Principal (AIP) from the Immigration and Checkpoints Authority (ICA).&nbsp;<\/p>\n\n\n\n<p>After approval, the applicant must deploy the investment before the six-month validity of the AIP expires. Upon verification of documentary evidence of deployment of investments, the ICA will issue the final approval letter.&nbsp;<\/p>\n\n\n\n<p>The investor then has 12 months from issue of the final approval to apply for and obtain permanent residence in Singapore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore has expanded its Global Investor Programme by introducing three new categories of eligible investor and a third investment option. Introduced in 2004, the GIP offers a fast-track route to permanent residence in Singapore to wealthy individuals investing at least $2.5 million in either a new or expanding business or a GIP fund investing in&hellip;<\/p>\n","protected":false},"author":2,"featured_media":56098,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false,"jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[415,454],"tags":[5485,5484],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.investmentimmigration.com\/wp-content\/uploads\/2020\/04\/Singapore_209824591-scaled.jpeg","jetpack_shortlink":"https:\/\/wp.me\/p8hnWW-eAN","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/posts\/56097"}],"collection":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/comments?post=56097"}],"version-history":[{"count":0,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/posts\/56097\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/media\/56098"}],"wp:attachment":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/media?parent=56097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/categories?post=56097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/tags?post=56097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}