Who qualifies as a dependant under GIP
You can include your spouse and unmarried children below 21 as dependants in your GIP application. The Global Investor Programme (GIP) is administered by Contact Singapore, a division of the Singapore Economic Development Board (EDB). It lets eligible investors apply for Singapore Permanent Residence (PR).
Your spouse is eligible to be included. Your unmarried children below 21 years old as at the date of application submission are also eligible.
Male children who obtain PR as your dependant are liable for National Service. Male dependants whose spouse is the main applicant may be liable. Check www.cmpb.gov.sg before applying.
Who is excluded and the alternative route
Parents and unmarried children above 21 cannot be included as GIP dependants. They can instead apply for a Long-Term Visit Pass (LTVP) tied to your Re-Entry Permit.
Parents are not eligible to be included as dependants under GIP. Unmarried children above 21 years old as at the date of application submission are also excluded.
These family members apply for an LTVP after your PR is formalised, because the pass depends on your REP validity. For general reference, MOM sets LTVP eligibility for Employment Pass or S Pass holders at a minimum fixed monthly salary of S$6,000. Parents of those holders qualify only at a fixed monthly salary of at least S$12,000. The GIP route links parents and older children to the REP instead.
The LTVP has no foreign worker levy or quota requirement. Its duration is tied to the validity of your Re-Entry Permit. The pass is renewable.
The four GIP qualifying profiles
You must meet one of four profiles to qualify for GIP. Established Business Owners need at least 3 years of entrepreneurial and business track record. Their company must show annual turnover of at least S$200 million in the year before application and at least S$200 million per annum on average for the three preceding years. Privately held companies require at least 30% shareholding. The company must operate in an industry listed in Annex B.
Next Generation Business Owners need immediate family holding at least 30% shareholding or being the largest shareholder. The company must show annual turnover of at least S$500 million in the year before application and at least S$500 million per annum on average for three years. The applicant must be part of the management team.
Founders of Fast Growth Companies must be a founder and one of the largest individual shareholders of a non-publicly listed company valued at at least S$500 million. The company must be backed by reputable venture capital or private equity firms.
Family Office Principals need at least 5 years of entrepreneurial, investment or management track record. They must hold net investible assets of at least S$200 million. Net investible assets exclude real estate.
Investment options
Three profiles may choose from three investment options; Family Office Principals may choose Option C only. Established Business Owners, Next Generation Business Owners and Founders of Fast Growth Companies may choose Option A, B or C.
Option A requires an investment of at least S$10 million in a new business entity or in the expansion of an existing one. Option B requires S$25 million in a GIP-select fund that invests in Singapore-based companies. Option C requires a Singapore-based Single Family Office with assets under management of at least S$200 million, of which at least S$50 million must be transferred into Singapore.
From application to PR
The GIP process takes approximately 12 months, subject to complete document submission and due diligence checks. You submit completed GIP application forms, both online and hardcopy, to EDB. EDB then invites you for an interview.
If you meet the assessment criteria, the Immigration & Checkpoints Authority (ICA) issues an Approval-in-Principle (AIP) valid for 6 months. You must fulfil the investment condition within 6 months from the AIP date. After investing, you provide evidence and submit the Investment Undertaking.
EDB verifies the documents and ICA issues the Final Approval letter. Option C applicants must show at least S$50 million deployed into specified investments no later than 12 months from the Final Approval. You must formalise your PR within 12 months from the Final Approval date.
Re-Entry Permit and renewal
Your Re-Entry Permit is valid for 5 years from PR formalisation. The REP lets you keep PR status while outside Singapore. Without a valid REP, you lose PR once you leave Singapore.
The renewal window opens 3 months before expiry. Renewal requires meeting the renewal criteria for your option by the 5th year of your PR. Option A, B and C each require that you have fulfilled the respective investment conditions under the GIP.
What GIP approval does not guarantee
EDB states that nothing in the GIP documentation constitutes an undertaking to ensure approval of any application or renewal. Applicants are assessed on information submitted and shared during the GIP interview. Due diligence checks apply to every application.
Official sources
This article is based on the following official pages:
