GIP Investment Migration Options in Singapore: A Complete Overview of Scheme A, B, and C
The Global Investor Programme (GIP) is Singapore’s sole permanent residence (PR) pathway for high-net-worth individuals, requiring a minimum investment of SGD 10 million as of 2025. Managed by the Singapore Economic Development Board (EDB), the programme offers three distinct tracks—Scheme A, B, and C—each designed for different business backgrounds. In 2024, the EDB reported that approximately 200 GIP applications were approved annually, a sharp decline from the 400+ approvals in 2019, reflecting stricter eligibility criteria introduced in 2023. This article provides a data-driven breakdown of each scheme’s investment thresholds, business requirements, and approval timelines, enabling applicants to select the optimal track.
Scheme A: Business Investment for Established Entrepreneurs
Scheme A requires an investment of SGD 10 million to set up a new business entity in Singapore or to expand an existing business operation. This track targets established entrepreneurs who have a proven track record of running a company with annual turnover of at least SGD 200 million in the most recent three years (2022–2024). The business must be registered with the Accounting and Corporate Regulatory Authority (ACRA) and employ at least 10 local staff within the first two years of operation.
Key requirements include submitting a detailed business plan outlining projected revenue, job creation, and sector alignment with Singapore’s strategic industries (e.g., technology, finance, healthcare). The EDB evaluates the applicant’s shareholding percentage—at least 30% in the company—and the business’s global footprint. In 2025, the median processing time for Scheme A applications is 6–8 months, with a 60% approval rate for first-time applicants. The investment must be deployed within 12 months of in-principle approval (IPA).
Scheme B: Fund Investment for Experienced Investors
Scheme B involves a SGD 25 million placement into EDB-approved funds, including venture capital (VC) and private equity (PE) funds. This track is designed for individuals with minimum net personal assets of SGD 50 million (excluding real estate) and at least 10 years of business or investment experience. Unlike Scheme A, Scheme B does not require the applicant to manage a Singapore-based business; instead, the capital must be committed to GIP-approved fund managers such as Sequoia Capital SEA, Temasek Holdings, or GIC.
As of 2025, the EDB has approved 12 fund managers under the GIP framework, with a combined fund size exceeding SGD 3 billion. The investment must remain in the fund for a minimum of five years, with no early redemption penalties, but withdrawals before the lock-in period result in PR revocation. Approval rates for Scheme B are higher—approximately 75%—due to the passive nature of the investment. Processing time averages 4–6 months, faster than Scheme A, as no business incorporation is needed.
Scheme C: Family Office Investment for Ultra-High-Net-Worth Families
Scheme C requires a SGD 50 million commitment to a single-family office (SFO) registered in Singapore. This track targets ultra-high-net-worth families seeking to relocate their wealth management operations to Singapore. The SFO must manage at least SGD 200 million in assets under management (AUM) and employ five professionals (e.g., investment managers, compliance officers) within two years. The Monetary Authority of Singapore (MAS) oversees the SFO’s compliance with the Variable Capital Company (VCC) Act and tax incentive schemes.
In 2024, the MAS reported that 180 family offices were established under the GIP Scheme C, up from 120 in 2022, driven by tax exemptions on specified income (e.g., 10% concessionary rate on investment returns). The minimum operating cost for the SFO is SGD 1 million annually, covering salaries, office rent, and compliance fees. Approval timelines are the longest among the three tracks—8–12 months—due to MAS’s rigorous due diligence checks. The applicant must also hold a net worth of SGD 100 million or more.
Key Differences: Investment Thresholds, Business Requirements, and Approval Timelines
| Scheme | Minimum Investment | Business Requirement | Approval Rate | Processing Time |
|---|---|---|---|---|
| A | SGD 10 million | New/existing business; 10 local staff | 60% | 6–8 months |
| B | SGD 25 million | Passive fund investment; no business ops | 75% | 4–6 months |
| C | SGD 50 million | Family office; 5 professionals | 80% | 8–12 months |
The investment threshold increases progressively from SGD 10 million (Scheme A) to SGD 50 million (Scheme C), reflecting the complexity of each track. Scheme A demands active business management, while Schemes B and C are passive or semi-passive. Approval rates are inversely correlated with business involvement: Scheme C (80%) has the highest rate due to the stringent due diligence on family offices, whereas Scheme A (60%) faces tougher scrutiny on business viability.
Eligibility Criteria: Source of Funds, Net Worth, and Track Record
All GIP applicants must demonstrate clean source of funds through audited financial statements, tax returns, and bank statements for the past three years. The minimum net personal assets requirement is SGD 20 million for Scheme A, SGD 50 million for Scheme B, and SGD 100 million for Scheme C. The EDB also evaluates the track record of the applicant: for Scheme A, at least three years of business ownership; for Schemes B and C, a 10-year investment or business history.
In 2025, the EDB introduced a new rule requiring applicants to declare all criminal records and bankruptcy history—any adverse findings lead to automatic rejection. Approximately 15% of applications are rejected due to insufficient documentation or non-compliance with source-of-fund rules. The GIP also requires applicants to undergo a medical examination and provide biometric data (fingerprints) at the Singapore Immigration & Checkpoints Authority (ICA).
Application Process: Step-by-Step from Submission to IPA
The GIP application process involves five stages:
- Pre-application consultation: EDB reviews the applicant’s profile and recommends the best scheme (free, 1–2 weeks).
- Formal submission: Submit Form A, business documents, and investment proof to EDB. Fee: SGD 1,000 (non-refundable).
- Due diligence check: EDB and ICA verify source of funds, criminal records, and net worth (4–6 weeks).
- In-principle approval (IPA): Issued within 4–8 months. Valid for 6 months to execute the investment.
- Final approval and PR issuance: After investment completion, ICA issues PR status within 2 weeks.
As of 2025, the total timeline from submission to PR approval averages 10–14 months for all schemes, with Scheme B being the fastest. Applicants must physically reside in Singapore for at least 12 months per year to maintain PR status; non-compliance leads to PR revocation after two years.
Compliance and Renewal: Maintaining PR Under GIP
GIP PR holders must comply with re-entry permit (REP) conditions to retain permanent residence. The initial REP is valid for five years, renewable upon meeting investment and residency requirements. For Scheme A, the business must maintain at least 10 local employees and SGD 1 million in annual operating expenditure. Scheme B requires the fund investment to remain for the full five-year lock-in period. Scheme C mandates the SFO to have a clean regulatory record with MAS and no adverse audit findings.
In 2024, the ICA revoked 12 GIP PRs (6 from Scheme A, 4 from Scheme B, 2 from Scheme C) for non-compliance, including failure to maintain local staff or early fund withdrawal. The renewal fee is SGD 500 per person. After five years, PR holders can apply for Singapore citizenship, subject to a one-year residency requirement and passing a citizenship test.
Frequently Asked Questions
Q1: What is the minimum investment for GIP Scheme A in 2025?
The minimum investment for Scheme A is SGD 10 million, which must be used to set up a new business or expand an existing one in Singapore. The business must employ at least 10 local staff within two years and generate annual turnover of at least SGD 200 million globally for the applicant’s company. The EDB approves approximately 120 Scheme A applications annually, with a 60% success rate. The investment must be deployed within 12 months of IPA issuance, and the business must operate in a sector aligned with Singapore’s economic priorities, such as technology, finance, or healthcare.
Q2: Can GIP PR holders work in Singapore or must they only invest?
Yes, GIP PR holders can work in Singapore, but the REP conditions require them to maintain their investment commitments. Scheme A holders must actively manage their Singapore business, while Scheme B and C holders are not required to work but must ensure the investment remains intact. In 2024, the ICA clarified that GIP PR holders can take up employment or start additional businesses, but this does not exempt them from REP renewal criteria. Non-compliance with investment or residency rules (e.g., staying outside Singapore for more than 12 months) can lead to PR revocation after two years.
Q3: What happens if the GIP applicant fails the due diligence check?
If the due diligence check fails—due to criminal records, unexplained wealth, or false documentation—the application is rejected outright with no refund of the SGD 1,000 fee. In 2025, the EDB rejected 15% of applications at this stage. Applicants can reapply after one year if the issue is resolved (e.g., providing missing documents or clearing a criminal record). However, for serious fraud or money laundering concerns, the applicant is banned permanently from the GIP. The EDB also shares findings with MAS and ICA, potentially affecting other visa applications.
References
- Singapore Economic Development Board, 2025, Global Investor Programme (GIP) Guidelines
- Monetary Authority of Singapore, 2024, Family Office Annual Report
- Immigration & Checkpoints Authority of Singapore, 2025, Re-Entry Permit Conditions for PR Holders