Padmakshi-Mondial Asset Services

Mutual Funds Online

	Call Us Now
	+91 937 215 41 34

SINGAPORE

The Global Investor Program (GIP)

The Global Investor Program is a Permanent Residency scheme specially designed for wealthy investors, who along with their families, wish to relocate to Singapore.

Investment Options

Under the GIP, the investor can choose one of the following options:

Eligibility for Application

1. The investor must have a substantial business track record and a successful entrepreneurial background. He/she must possess at least three years of entrepreneurial and business track record and must produce audited financial statements of his/her company for the last three years.

2. If the company of the investor is in the real estate or construction-related industry, the company's turnover must be at least SGD 200 million in the most recent year and at least SGD 200 million per annum on average for the last three years.

3. If the investor's company is in other sectors, the 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 last three years.

4. The applicant must have a minimum shareholding of 30% in his/her company if it is a privately-held company. Additionally, the applicant's contribution towards the growth of the company will be taken into account.

PR for the Family

The spouse of the investor and his/her children (below 21 years old) are eligible to apply for PR under the GIP application. Male dependants under the age of 21 years will be liable for Singapore National Service.

Parents and unmarried children of the investor who are 21 years old and above are not eligible to be included in the GIP application for PR status, but instead, they can apply for a five year Long Term Visit Pass.

Validity of Re-Entry Permit

Upon the formalisation of the PR status, the investor will be issued a Re-Entry Permit (REP). A valid REP is necessary whenever the PR wishes to travel in and out of Singapore. It enables a person to retain the PR status while away from Singapore.

After the initial five years, the REP would be renewed if the investor fulfils the following conditions:

For a three-year renewal:

1. Or have fulfilled the minimum residency period (at least 2.5 years) by either GIP candidate or at least one dependent, who is also a PR under GIP.The investor must have fulfilled the investment conditions under Option A or Option B of the GIP; and

2. Or have fulfilled the minimum residency period (at least 2.5 years) by either GIP candidate or at least one dependent, who is also a PR under GIP.Either have set up a business in Singapore with five or more Singaporean employees and have incurred at least SGD 1 million in total business spending a year; or

3. Or have fulfilled the minimum residency period (at least 2.5 years) by either GIP candidate or at least one dependent, who is also a PR under GIP.

For a five year renewal

1. The investor must have fulfilled the investment conditions under Option A or Option B of the GIP; and

2. Have set up a business in Singapore with five or more Singaporean employees and have incurred at least SGD 1 million in total business spending a year; and

3. The investor and his/her dependents who are also PR under the GIP must have resided in Singapore for more than half of the time (at least 2.5 years).

Benefits

1. A Permanent Resident (PR) is entitled to purchase affordable property by paying only half the stamp duty fee.

2. A PR is eligible to apply for Singapore citizenship after two years of having PR status subject to ICA (Immigration and Checkpoints Authority) approval.

3. Singapore passport holders have very few visa travel requirements around the world and can enjoy visa-free travel to destinations like USA, UK, and Europe.

4. Mandatory participation in Central Provident Fund (CPF) will be implemented. PRs will be entitled to withdraw CPF monies if they decide to leave Singapore and give up their PR status.