新加坡总部: 3 Phillip Street #19-02, Royal Group Building, Singapore 048693

EN   |   中文
Search
Close this search box.
Search
Close this search box.

The leading brand in the skin care industry applies for GIP and vigorously develops overseas markets

How to get Singapore permanent residence and status together at once? In Singapore, a successful application for the Global Business Investor Programme (GIP) will qualify you to apply for Singapore Permanent Residency status after meeting certain criteria.

Recently, Go Global Gen has been helping Group B to promote the GIP programme in full swing and continue to explore overseas markets.

Advantages of the GIP program

1. What is GIP?

Global Investor Programme (GIP), an investment immigration programme launched by the Economic Development Board of Singapore (EDB), aims to attract talented entrepreneurs from around the world to invest and expand their businesses in Singapore. Business founders who have strong levels of business experiences and are interested in expanding their business internationally through Singapore have the opportunities to apply for permanent residency in Singapore through this programme.

Picture from unsplash.com

2. What are the advantages of GIP?

A. One application for family immigration:

In addition to the requirement of a successful entrepreneurial background, the Singapore GIP programme has no education, age or language requirements. The whole application cycle of investment immigration is about less than a year, which is the fastest and most direct way to apply for Singapore immigration and one of the fastest countries in investment immigration at present.

B. Get permanent residence in one step:

Under the current Singapore GIP programme, spouses and eligible children as subsidiary applicants can simultaneously apply for permanent residency through the Global Investor Programme. Parents of the applicant can also apply for a Long Term Visitor Pass (LTVP).

C. Identity first, investment later:

Applicants and their eligible family members will be granted permanent residency in Singapore upon approval to enjoy Singapore’s comprehensive education and social welfare.

Unlike most immigrant countries where you can buy your status with money, the Singapore GIP application process requires the applicant(s) to obtain pre-approval first before implementing the investment promised in the application form within the 6-month validity period of the approval letter.

Picture from pexels.com

Group B’s overseas expansion plan

Group B is a large health industry group committed to building China’s skin health ecology, integrating in research and development, production, marketing and service, and located in the skin health Internet +. They always take scientific research and innovation as the driving force to build China’s skin health ecology.

Group B’s next skincare brand has participated in the World Dermatology Congress for 2 consecutive times as the representative of national products, and has become a leading brand in the industry. In the construction of sales channels, leading the team to achieve high annual growth in the company’s sales performance, the e-commerce channel of the Tmall store, for example, ranked in the top 10 of the industry for 4 consecutive double 11 years.

In the past two years, Group B has accelerated the pace of expansion of overseas markets, especially attaching great importance to the Southeast Asian market.

The Southeast Asian market has a huge consumer market for medical beauty, skincare and color cosmetics products, in which people aged 20 to 50 account for most of the resident population. These people have a strong purchasing power, a strong sense of self-pleasing consumption, and a high willingness to spend. In particular, young consumers are highly receptive and willing to spend on medical beauty, skincare and color cosmetics products. In the future, Group B will take Singapore as its regional headquarters and continue to expand its market in Southeast Asia and North America.

Go Global Gem has made a detailed GIP plan for Group B and has helped the relevant person in charge of Group B successfully apply for EP in Singapore. In the near future, Group B will focus on developing the Southeast Asian market.

Picture: Mr. D from Group B has successfully obtained the Singapore EP. Any stolen pictures will be investigated!

③ What are the adjustments in GIP’s New Deal?

Starting on 1 April 2020, the Singapore Economic Development Board (EDB) has adjusted the basic requirements and investment thresholds for applicants of the Global Business Investor Programme (GBI), requiring that GIP applicants have a strong business record and successful entrepreneurial background. According to the Singapore Economic Development Board, applicants must meet the following criteria to be eligible to apply for permanent resident status in Singapore through the GIP scheme.

1. Turnover Adjustment

Adjustment of the turnover of the applicant’s company for the last 3 years from S$50 million to S$200 million per year.

2. In addition to the traditional categories, three new categories of applications have been added
  • Family inherited business: requires the direct family members (i.e. children) to hold more than 30% of the company’s shares or be the largest shatreholder, the company’s audited turnover for the last 3 consecutive years exceeds S$500 million and the applicant must be one of the company’s management.
  • Founder of a fast-growing company: The applicant must be the founder of the company and one of the largest shareholders, the company needs to be valued at S$500 million and the company must have reputable venture capital or private equity investment.
  • Family Office Principle: The applicant must have 5 years of experience in business investment or management, and personally own at least $200 million in investable assets, which cannot include properties.

3. Increase the renewal criteria for permanent residence

Adjusted from 5 Singaporean employees + S$1 million business expenditure per year to 10 employees (5 of which must be Singaporean nationals) + S$2 million business expenditure per year, with the requirement that the business company established must be in a government-designated industry and the shareholding must exceed 30%.

Picture from pexels.com

④ GIP application materials and procedures

Step 1:
Applicant is required to submit the completed Global Business Investment Plan Application form (both electronic and printed) to the Singapore Economic Development Board.

Step 2:
The applicant will be invited for an interview by the Singapore Economic Development Board.

Step 3:
If the applicant meets the assessment criteria, in principle, the applicant will receive a letter of approval from the Immigration and Immigration Authority of Singapore (ICA) for the Global Business Investment Plan, which is valid for a period of 6 months.

Step 4:
The applicant must implement the investment promised in the application form within the 6-month validity period of the approval letter.

Step 5:
After the investment has been made, the applicant must submit relevant supporting documents (e.g. certified copies of equity certificates, bank statements, and other legal documents) and a letter of assurance on the terms and conditions of the investment to the Singapore Economic Development Board.

Step 6:
The Immigration and Checkpoints Authority of Singapore (ICA) will issue a final letter of approval for the GBI to the applicant after confirmation of the relevant documents by the Economic Development Board of Singapore.

Step 7:
Applicants must become Singapore permanent residents within one year of receiving the final letter of approval for the Global Investor Programme.

Picture from pexels.com

⑤ GIP application recommendation scheme

For veteran business owners, next-generation business owners, and founders of fast-growing enterprises, the options are A/B/C. The head of the family office can only choose plan C:

Solution A:
Establish a new business entity or expand an existing business operation with an investment of not less than S$2.5 million.

Solution B:
Mainly invest in the Global Investor Programme Fund for Singapore businesses with an investment of not less than S$2.5 million.

Solution C:
Establish a new or existing single-family office in Singapore with an investment of not less than S$2.5 million. The office must manage assets of not less than S$200 million.

Picture from pexels.com

If you plan to apply for GIP, please contact Go Global Gem in time. We will provide you with business services, overseas asset allocation, overseas identity planning and other integrated solutions.

For enquiries, feel free to contact us: Ho Kah Chuan
Email: kahchuanho@goglobalgem.com