GLOBAL INVESTOR PROGRAM

Chinese Version


Investors interested to start up a business or invest in Singapore may apply for the Singapore Permanent Residence (PR) status through the Global Investor Program (GIP).


Eligibility & Assessment Criteria for GIP Application
(a) You must possess at least 3 years of successful entrepreneurial and business track record and must produce audited financial statements of your company for the last 3 years.
(b) Your company’s turnover must be at least S$50 million in the most recent year, and at least S$50 million per annum on average for the last 3 years. (S$200 million annual turnover for real estate or construction-related companies)
(c) If your company is privately-owned, you should have at least 30% shareholding in the company. Your role in the company, as well as the growth and profitability of your company would be taken into consideration.

GIP Investment Options
You may choose one of the following investment options.

Option A: Invest at least S$2.5 million in a new business entity or to expand an existing business operation. Submit and fulfill the milestones outlined in a detailed 3 year business or investment plan.

Option B: Invest at least S$2.5 million in a GIP fund that invests in Singapore-based companies.


Provisions for your Family
- Your spouse and children (below 21 years old) are eligible to apply for PR under your GIP application. Male dependents will be liable for National Service.

- Parents and unmarried children who are 21 years old and above are not eligible to be included in your GIP application. Instead, they can apply for a 5 year Long Term Visit Pass (LTVP) tied to the validity of your Re-Entry Permit (REP).

Validity of Re-Entry Permit
Upon the formalization of your PR status, you will be issued a Re-Entry Permit (REP) for 5 years. A valid REP is necessary whenever a PR wishes to travel in and out of Singapore. It enables you to retain your PR status while away from Singapore.

Subsequent to the first 5 years, your REP would be renewed if you fulfill the following conditions.

(1) For a 3 year Renewal, you must have fulfilled the investment conditions under either Option A or Option B of the GIP; and EITHER

(a) Set up a business in Singapore with 5 or more Singaporean employees and have incurred at least S$1 million in total business spending a year; OR
(b) You or at least 1 of your dependents, who is also a PR under GIP, must have resided in Singapore for more than half of the time.

(2) For a 5 year renewal, you must have fulfilled the investment conditions under either Option A or Option B of the GIP; and
(a) Set up a business in Singapore with 5 or more Singaporean employees and have incurred at least S$1 million in total business spending a year; AND
(b) You and your dependents, who are also PR under GIP, must have resided in Singapore for more than half of the time.

Timeline for Processing of Global Investor Program (GIP) Applications

Applicant submits GIP application forms to Contact Singapore (Within 2-4 months)

Contact Singapore invites Applicant for an interview
(Within 2-4 months)

If Applicant meets all assessment criteria, Immigration & Checkpoints Authority (ICA) will issue an Approval-in-Principle (AIP) status to the Applicant.

Applicant makes the necessary investment under the selected investment option, within 6 months from the date of the AIP letter.

Upon investment, Applicant submits the investment documents such as share certificates and title deeds to Contact Singapore to hold in custody for 5 years.

Upon receiving the investment documents by Contact Singapore, ICA will issue the final approval letter.
Applicant must formalise his/her Permanent Residence status in Singapore within 12 months from the date of the final approval letter.


Applicant must formalise his/her Permanent Residence status in Singapore within 12 months from the date of the final approval letter.


*Note: The above timeline is subject to complete submission of all required supporting documents upon application.


The above information may be subject to changes without prior notice and does not constitute and should not be construed as legal advice and it is strictly for general information only.


Oct 8, 2012 – PropertyGuru.com.sg

By Romesh Navaratnarajah:

Sales of bungalows at Sentosa Cove have picked up significantly in recent weeks, rebounding from the effects of the additional buyer’s stamp duty (ABSD), reported The Business Times.

Owners of around 12 bungalows issued options to potential buyers in the past two months, with interest coming mostly from foreigners, especially China nationals.

For instance, two homes on Pearl Island were reportedly sold for S$2,200-plus psf on land area. One bungalow at Paradise Island was said to have been sold for around S$22 million or just over S$2,380 psf on the 9,236 sq ft land area, while another property at Coral Island was sold for S$16.5 million or S$1,743 psf on the 9,464 sq ft land area.

In addition, a sea-fronting home at Cove Grove is said to have changed hands for around S$26 million or S$2,600 psf.

Over at Cove Drive, it was reported that two bungalows facing the waterway and Tanjong Golf Course were sold for over S$15 million. Another unit slightly further away on the same stretch was sold for about S$16.8 million or S$2,308 psf.

According to market watchers, renewed interest for Sentosa Cove homes is due to the stock market run-up, QE3, and a narrowing gap between bid and ask prices.

However, not many caveats were lodged for the recent bungalow deals, with most options yet to be exercised by buyers. Compared to 25 caveats for the whole of 2011, only six caveats were lodged in 1H2012 for Sentosa Cove bungalow purchases and two more thereafter.


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Lester Tan
Managing Partner - SRi5000 Investment - Group of
SRI PTE. LTD.
lestertan7777@gmail.com
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L3010738A / R006736B
+(65) 9101 7777