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.|
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.
The investor must possess at least three years of entrepreneurial and business track record and must produce audited financial statements of their company for the three years prior to their application. The investor’s company’s turnover must be at least SGD 50 million in the most recent year and at least SGD 50 million per annum on average for the previous three years.
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.
Subsequent to the first five years, the REP would be renewed for either three or five years, subject to the investor fulfilling certain conditions. Conditions for renewal include the set-up of a business in Singapore with five or more Singaporean employees and incurring at least SGD 1 million in total business spending a year. The investor and/or their dependents, who are also permanent residents under the Global Investor Program, must have resided in Singapore for more than half of that time period.