Important factors to consider in residence planning
The Global Investor Program has been designed for investors who are interested in starting a business or investing in Singapore and thereby receiving Singapore permanent residence status.
Under the Global Investor Program, the investor can choose one of the following options:
|Option A:||Invest at least SGD 2.5 million in a new business entity or expansion of an existing business operation.|
|Option B:||Invest at least SGD 2.5 million in an approved fund that invests in Singapore-based companies plus the implementation of a business plan in Singapore.|
|Option C (Family Office Option):||An investment of SGD 2.5 million, used to establish a single family office in Singapore, which is required to have assets under management of at least SGD 200 million (minimum SGD 50 million of assets in Singapore and SGD 150 million in offshore assets).
An investor is eligible to apply for permanent residence under the Global Investor Program if they have a substantial business track record and a successful entrepreneurial background. Each Singapore residence category has a specific application process and a particular set of documentary requirements that must be fulfilled.
The Global Investor Program’s qualifying options are geared towards:
Established business owners
The investor must possess at least three years of entrepreneurial and successful business track record. Investors must own at least 30% equity of a company (or a summation of two companies) and must produce audited financial statements of their company for the three years prior to their application. The company’s turnover must be at least SGD 200 million in the preceding 12 months and at least SGD 200 million per annum on average for the previous three years.
Next-generation business owners
The investor’s immediate family must own at least 30% equity of a company (or a summation of two companies) and must produce audited financial statements of their company for the three years prior to their application. The company’s turnover must be at least SGD 500 million in the preceding 12 months and at least SGD 500 million per annum on average for the previous three years. The investor needs to be a member of the company’s management board.
Founders of fast-growing companies
The investor must be a founder and one of the company’s largest individual shareholders. The company must have a valuation of at least SGD 500 million.
Family office principals
The investor must possess at least five years of entrepreneurial, investment or management track record and net investible assets of at least SGD 200 million. This category of applicant is restricted to the Family Office Option (Option C above).
The spouse of the investor and their children (below 21 years old) are eligible to apply for permanent residence under the investor’s application. Male dependents will be liable for national service.
Parents and unmarried children of the investor who are 21 years old and above are not eligible to be included in the application for permanent residence status, but they may instead apply for a five-year long-term visit pass.
Upon the formalization of their permanent residence status, the investor will be issued with a re-entry permit (REP) for five years. A valid REP is necessary whenever you wish to travel in and out of Singapore. It enables the investor to retain their permanent residence status while away from Singapore.
After the first five years, the REP can be renewed if the investor fulfills certain conditions that are subject to the chosen option. There are different renewal requirements for the REP at the end of the fifth year, based on business milestones being met, physical time spent in Singapore, or a combination of these.