3. |
Investment Options |
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Under GIP, you may choose one of the following investment options:- |
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(1) |
Option A: Invest at least SGD2.5 million in a new business entity or in the expansion of an existing business operation. |
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(2) |
Option B: Invest at least SGD2.5 million in a GIP fund that invests in Singapore based companies. |
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(3) |
Option C: Invest at least SGD2.5 million in a new or existing Singapore-based single family office having Assets-Under-Management (AUM) of at least SGD200 million. |
4. |
List of Approved Industries |
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Under the GIP, you may invest in the following areas:-
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5. |
Validity of Re-Entry Permit |
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A successful GIP candidate will be issued a Re-Entry Permit (REP) for 5 years upon the approval of his/her SPR status. A valid REP enables him/her to retain the SPR status while travelling in and out of Singapore. After the initial 5 years, the REP may be renewed subject to the following conditions: |
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(1) |
3-Year Renewal |
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(a) |
GIP candidate must have fulfilled the investment conditions under either Option A or Option B or Option C of the GIP; and |
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(b) |
For Option A and Option B – Either they have set up a business in Singapore and must employ at least 10 employees with at least 5 Singapore Citizens, and have incurred at least SGD2 million of annual total business expenditure; OR fulfil the minimum residency period of at least 2.5 years (i.e. half of the time) by either GIP candidate or all of his/her dependants, who obtained SPR under the GIP application. |
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(c) |
For Option C – Either the Family Office in Singapore that GIP candidate will be investing in have employed at least 10 employees with at least 5 Singapore Citizens and 3 professionals (i.e. have to be non-family members, holding advisory roles or board appointments in functions related to legal, tax, or investment), and have incurred at least SGD2 million of annual total business expenditure; OR fulfil the minimum residency period of at least 2.5 years (i.e. half of the time) by either GIP candidate or all of his/her dependants, who obtained SPR under the GIP application. |
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(2) |
5-Year Renewal |
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(a) |
GIP candidate must have fulfilled the investment conditions under either Option A or Option B or Option C of the GIP; and |
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(b) |
For Option A and Option B – Either they have set up a business in Singapore and must employ at least 10 employees with at least 5 Singapore Citizens, and have incurred at least SGD2 million of annual total business expenditure; AND fulfil the minimum residency period of at least 2.5 years (i.e. half of the time) by either GIP candidate or all of his/her dependants, who obtained SPR under the GIP application. |
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(c) |
For Option C – Either the Family Office in Singapore that GIP candidate will be investing in have employed at least 10 employees with at least 5 Singapore Citizens and 3 professionals (i.e. have to be non-family members, holding advisory roles or board appointments in functions related to legal, tax, or investment), and have incurred at least SGD2 million of annual total business expenditure; AND fulfil the minimum residency period of at least 2.5 years (i.e. half of the time) by either GIP candidate or all of his/her dependants, who obtained SPR under the GIP application. |
6. |
SPR for Your Family Members |
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Your spouse and unmarried children of the age below 21 as at the date of application are eligible to apply for SPR under your GIP application. Male children who obtain SPR by virtue of being your dependent will be liable for National Service. Your parents and such unmarried children as are 21 years old or older as at the date of application, are not eligible to apply for SPR under your GIP application. Instead, they can apply for a 5-year Long Term Visit Pass (LTVP), which is tied to the validity of your Re-Entry Permit (REP). |
7. |
Application Processing Time |
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Normally, the relevant authority will take 6-8 months to process an application. During the course that your application is being processed, you will be invited to come to Singapore for an interview. If your application is approved, you will be issued an Approval-in-Principle PR which is valid for 6 months, during which time you will be required to make your investment. Documentary evidence of your investment such as share certificates and title deeds will need to be submitted and withheld by the authorities for 5 years. Once these documents have been received by the authorities, you will be conferred the final PR status. |
Disclaimer All information in this article is only for the purpose of information sharing, instead of professional suggestion. Kaizen will not assume any responsibility for loss or damage. |