Singapore's Global Investor Programme (GIP) gives eligible investors a route to permanent residence (PR). It is administered by Contact Singapore, a division of the Economic Development Board (EDB). This comparison of Options A, B and C is drawn from the GIP Factsheet published on the EDB's GIP page.
The EDB does not publish application volumes or approval rates for the programme, and this page does not estimate them. The factsheet itself states that nothing in it is an undertaking to ensure "the approval of any application made under the GIP", or the renewal of a Re-Entry Permit.
Step one: which applicant profile you fit
The investment option comes second. An applicant must first meet the qualifying criteria for one of four profiles.
| Profile | Main qualifying criteria | Options open |
|---|---|---|
| Established business owner | At least 3 years of entrepreneurial and business track record; currently running a company with annual turnover of at least S$200 million in the year before applying and on average over the three preceding years; at least 30% shareholding if the company is privately held; company in an industry listed in Annex B | A, B or C |
| Next generation business owner | Immediate family holds at least 30% of, or is the largest shareholder in, the qualifying company; annual turnover of at least S$500 million on the same two measures; applicant is part of the management team; Annex B industry | A, B or C |
| Founder of a fast growth company | Founder and one of the largest individual shareholders of a non-publicly listed company valued at S$500 million or more; company invested into by reputable venture capital or private equity firms; Annex B industry | A, B or C |
| Family office principal | At least 5 years of entrepreneurial, investment or management track record; net investible assets of at least S$200 million (financial assets, excluding real estate) | C only |
The three investment options
Option A: a business in Singapore
The applicant must demonstrate an investment of at least S$10 million in a new business entity or in the expansion of an existing business operation in Singapore. A detailed five-year business or investment plan is required, with projected employment, expenditure and financial projections. The EDB assesses the plan on its feasibility, the applicant's role in growing the company, the business activities and the creation of local jobs. The applicant should hold at least 30% of the Option A company, be part of its management team, and the company must be in an Annex B industry.
Option B: a GIP-select fund
The applicant invests S$25 million in a GIP-select fund that invests in Singapore-based companies, and may be asked to share any other business plans for Singapore. The EDB's GIP-select funds page states that these investments are not principal-protected, and the factsheet adds that the selection of a fund "does not serve as an endorsement of any fund".
Option C: a single family office
The applicant establishes a Singapore-based single family office with assets under management of at least S$200 million. At least S$50 million must be transferred into Singapore and deployed in EDB specified investments, which the factsheet lists as equities listed on Singapore approved exchanges. That deployment must be completed no later than 12 months from the Final Approval of PR and maintained throughout the validity of the Re-Entry Permit. A five-year business plan is required; it is assessed on the applicant's role in the family office, its functions, proposed investment sectors, asset types, geographical focus and philanthropy interest.
Application steps
- Submit the GIP application forms to the EDB, then attend an interview with the EDB.
- If the assessment criteria are met, ICA issues an Approval-in-Principle, valid for six months.
- Complete the investment under the chosen option within those six months and submit evidence together with an Investment Undertaking.
- Once the EDB has verified the investment documents, ICA issues the Final Approval. PR must be formalised within 12 months of that letter.
The factsheet notes that processing takes approximately 12 months, subject to complete submission of supporting documents, and that applications are subject to due diligence checks. Each applicant applying for PR pays a non-refundable S$100 processing fee to ICA.
Keeping PR: Re-Entry Permit renewal
On formalisation the investor receives a Re-Entry Permit valid for five years. The conditions for renewal differ by option and are often the more demanding part of the commitment.
| Option | Economic condition at renewal |
|---|---|
| A | The Option A company employs at least 30 employees, at least half of them Singapore citizens, including at least 10 incremental employees |
| B | The S$25 million investment in a GIP-select fund is maintained |
| C | The family office employs at least 5 incremental family office professionals, at least 3 of them Singapore citizens, and the S$50 million in specified investments is maintained |
For a five-year renewal the investor must have fulfilled the investment conditions, meet the economic condition above, and the investor or all dependants who obtained PR under the application must have resided in Singapore for more than half of the time. For a three-year renewal, the investment conditions must be fulfilled and either the economic condition or the residence condition met.
Family members
A spouse and unmarried children below 21 at the date of submission can be included as dependants. Parents and unmarried children above 21 cannot; they may apply for a Long Term Visit Pass tied to the validity of the investor's Re-Entry Permit. Male children who obtain PR as dependants are liable for National Service; details are at cmpb.gov.sg.
Always confirm against the official page: EDB, Global Investor Programme, which carries the current factsheet and application forms.