Singapore Golden Visa

Singapore is one of richest countries in the world. Singapore also has the world’s most powerful passport, ranked no. 1 in 2019 for having the most visa free access to world countries.

 

Singapore offers the highest standards of living for HNW investors , being the central business hub of Asia.

 

Global Investor Program

 

The Singapore Global Investor Programme (GIP) program dubbed as Golden visa was launched in 2004,  offers investors a permanent residence status (PR) against investment of SGD 2.5 million in Singapore.

 

The Global Investor Programme (GIP) aims to attract and anchor entrepreneurs and investors of high calibre, who can bring quality investments and good jobs to Singapore.

 

Minimum Investment

Under GIP,  these are the following investment conditions:

 

  • Invest at least S$2.5 million ($1.8m) in a new business entity or in the expansion of an existing business operation. (or) at least S$2.5 million ($1.8m) in a GIP fund that invests in Singapore based companies.
  • Must have a minimum of three-year entrepreneurial and business track record
  • Company must have a turnover of at least S$50 million in the year immediately preceding the application date and an average turnover of S$50 million per annum

 

 

Successful applicants will be issued a Re-Entry Permit (REP)  valid for 5 years. The REP is a permit that allows you to maintain PR permanent resident status when you are out of Singapore. This can be later extended to another three or five years.

 

There is an application fee of S$7,000.  If GIP application is approved,  Approval-in-Principle (AIP) will be issued for permanent residence  status by the Singapore Immigration & Checkpoints Authority (ICA), which is valid for 6 months.  You will be required to make your investment within the 6-month period of your AIP PR status.

 

The investment of S$2.5 million  must be made from your personal bank account in sole name opened in a Singapore-registered bank in Singapore.

 

Approved Investment Sectors

 

The GIP investments or funds can be invested in the following industry sectors in Singapore:

 

  • Aerospace Engineering
  • Alternative Energy/ Clean Technology
  • Automotive
  •  Chemicals
  • Consumer Business (e.g. flavours and fragrances, food ingredients, nutrition, home and personal care)
  • Electronics
  • Energy
  • Engineering Services
  •   Healthcare
  • Infocomm Products & Services
  • Logistics & Supply Chain Management
  • Marine & Offshore Engineering
  • Media & Entertainment
  •  Medical Technology
  •  Nanotechnology
  • Natural Resources (e.g. metals, mining, agri-commodities)
  • Safety & Security
  • Space
  • Shipping
  • Pharmaceuticals & Biotechnology
  •   Precision Engineering
  • Professional Services e.g. consulting, design
  •   Arts Businesses – Visual arts businesses, e.g. auction houses, art logistics/storage – Performing arts businesses
  •   Sports Businesses
  •   Family Office & Financial Services

 

The Singapore Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry, is responsible for strategies that enhance Singapore’s position as a global centre for business, innovation, and talent.

 

Singapore Citizenship

Singapore offers acquisition of citizenship under the following conditions for naturalization.

 

  • Singapore Permanent Resident (PR) for at least two years and are aged 21 and above (you can apply together with your spouse and any unmarried children aged below 21 born to you within the context of a legal marriage or legally adopted by you)..
  • Have been a PR for at least two years and have been married to a Singapore citizen for at least two years.
    Your spouse will need to log in to MyICA using their SingPass to sponsor your application.
  • Unmarried child aged below 21 born within the context of a legal marriage to, or have been legally adopted by, an SC.
    Your Singapore Citizen parent will need to log in to MyICA using their SingPass to sponsor your application.
  • Those with PR status studying in Singapore; and have been residing in Singapore for more than 3 years (of which, at least one year as a PR); and have passed at least one national exam (i.e. PSLE, GCE ‘N’/‘O’/‘A’ levels), or are in the Integrated Programme (IP).

 

Dual citizenship

Singapore prohibits dual citizenship and before becoming a citizen of singapore, one is required to renounce the previous citizenship. Dual nationals must carefully consider these issues before investing and taking up citizenship in Singapore.