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Success Case: Singapore's GIP investment project attracts wealthy people, a way for the whole family to move overseas and get PR quickly

In March of this year, the GIP project underwent an elevation of its criteria, resulting in an unexpected surge in applications. What prompted this change?

The Global Investor Programme (GIP) is a venture capital-based immigration initiative launched by the Singapore Economic Development Board in 2005. Within this framework, applicants invest a stipulated amount in Singapore, thereby fueling the nation’s economic progress and becoming eligible to apply for permanent residency. This initiative stands out as one of the rare avenues for promptly attaining Singaporean PR status.

A Tale of Strategic Planning by Ms. Y Abroad

Ms. Y, equipped with an undergraduate degree, currently holds a prominent C-level position at Company N, actively engaged in the dynamic realm of internet gaming.

Apart from its well-established financial sector, Singapore boasts a thriving internet industry ecosystem. It’s the primary choice for both Chinese and Western internet conglomerates embarking on international expansion. Renowned global internet giants like Google, Amazon, and Twitter have set up their Asian headquarters in Singapore. Similarly, Chinese enterprises such as Alibaba, Tencent, and ByteDance have made significant inroads. Moreover, enterprises like Shopee and Lazada have experienced rapid growth.

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In addition to its robust economic landscape, Singapore’s strategic geographic location seamlessly integrates it into the global economy. As one of the world’s four major financial hubs, Singapore magnetizes top-tier professionals, exemplified by individuals like Ms. Y.

To accelerate her company’s growth trajectory, Ms. Y collaborated with senior management to establish a headquarters in Singapore. Concurrently, she embarked on charting a strategic personal overseas plan. Her aspiration involves swift acquisition of Singaporean permanent residency by investing in officially endorsed projects. This strategic move culminates in relocating her entire family to Singapore.

Considering Ms. Y’s unique scenario and her association with Company N, Go Global Gem recommended a fund investment project within the GIP program. This encompassed every stage – from gathering intelligence and submitting applications to undergoing comprehensive reviews and finalizing Singaporean permanent residency application. Throughout this journey, the dedicated client manager from Go Global Gem provided unwavering support, ultimately facilitating Ms. Y’s triumphant attainment of Singaporean permanent residency status.

Picture: GIP success stories, stolen pictures will be investigated!

Decoding the Latest Investment Options of GIP

Recent developments in Singapore have brought forth adjustments to the Global Investor Programme (GIP). “Go Global Gem” has distilled a comprehensive overview from official sources, including the EDB:

1. New Scheme A

Prospective applicants are now required to invest a minimum of 10 million Singapore dollars (inclusive of fully paid-up capital) in establishing a novel commercial entity or injecting funds into an already operational venture.

Renewal Imperative: Upon the conclusion of the initial five-year permanent residency period, investors seeking to renew their re-entry permits must ensure the employment of a minimum of 30 staff members. Of these, at least half must hold Singaporean citizenship, and a further 10 employees should be new recruits.

Furthermore, for re-entry permit renewal, the applicant’s enterprise must engage at least 10 fresh employees, among whom half need to be Singaporean citizens. Moreover, a business expenditure totaling 2 million Singapore dollars is required.

2. New Scheme B

Opting for New Scheme B entails investing a substantial 25 million Singapore dollars in funds sanctioned by the GIP, marking a tenfold increase from previous prerequisites.

3. New Scheme C

A targeted provision is set for family office applicants, necessitating the establishment of a single-family office boasting assets under management exceeding 200 million Singapore dollars.

This directive caters to investors seeking to establish a family office for comprehensive wealth management. Under the updated guidelines, applicants must institute a single-family office within Singapore, commanding assets under management of no less than 200 million Singapore dollars. Within six months of obtaining the Approval in Principle (AIP), a minimum of 50 million Singapore dollars must be apportioned across four distinct investment categories.

These categories encompass:

  1. Companies featured on exchanges authorized by the Monetary Authority of Singapore, including those present on the Singapore Exchange Mainboard and Catalist.
  2. Qualifying Debt Securities, encompassing bonds, notes, commercial papers, and certificates of deposit.
  3. Funds emanating from fund managers officially registered in Singapore.
  4. Private equity funds devoted to non-listed companies resident in Singapore.

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What Appeals to You Among the GIP Project’s Advantages?

The Singapore GIP program offers a multitude of advantages that cater not only to high-net-worth individuals seeking expanded career prospects, but also address concerns surrounding elderly healthcare, educational opportunities for future generations, as well as the security and diversity of wealth inheritance. Among the three primary benefits listed, which holds the greatest significance for you?

1. Comprehensive Family Immigration

Beyond the requirement of a successful entrepreneurial background, the Singapore GIP plan omits rigid criteria such as educational qualifications, age limitations, and language proficiency. The entire application process for investment immigration takes less than a year, rendering it the swiftest and most direct approach available for pursuing Singaporean immigration. It stands as one of the fastest options for investment-based immigration globally.

2. Instantaneous Permanent Residency

Within the current Singapore GIP framework, accompanying spouses and eligible children can concurrently apply for permanent residency through the Global Investor Programme. Simultaneously, the applicant’s parents are eligible to apply for a Long-Term Visit Pass, creating a comprehensive solution for family relocation.

3. Investment Following Residency Acquisition

Upon securing approval for both the applicant and qualifying family members, Singaporean permanent residency becomes attainable. This affords access to Singapore’s robust educational offerings and social welfare provisions. In contrast to numerous other countries where financial investment directly secures residency, the Singapore GIP approach necessitates an initial pre-approval stage, followed by the fulfillment of investment commitments within the six-month window provided in the approval letter.

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The Singapore GIP initiative eschews strict prerequisites related to education, age, or language skills, ensuring accessibility for those who meet the stipulated conditions. Presently, it ranks as the fastest and most straightforward path to securing immigration into Singapore. Should this align with your needs, do not hesitate to engage with Go Global Gem.

If you have any questions, please feel free to contact:Ho Kah Chuan