Singapore tightens investment immigration conditions from S $2.5 million to S $10 million!

According to Lianhe Zaobao, Singapore has tightened its Global Investor Programme (GIP), increased investment across the board, and must hire more Singaporean citizens. The new regulations come into force on the 15th.

The Past and Present Life of Singapore Investment Immigrants

The Singapore Global Investor Program GIP is an immigration program designed by the Singapore government for successful entrepreneurs who have rich business experience and are interested in using Singapore as a platform to expand their international business. Applicants can obtain permanent residence status in Singapore in one step by investing in funds, business entities or setting up a family office in Singapore.

The policy has undergone several changes:

In 2005, the investment amount was 1 million Singapore dollars, in 2011, the political change rose to 2.5 million Singapore dollars, and in 2012, he joined the Immigration Supervision Department;

On March 1, 2020, Singapore's GIP changed its administration again, enriching the applicant's background and investment types. The investment amount remained unchanged at S $2.5 million, but it "frantically" raised the annual turnover requirement of the enterprise from S $50 million to S $0.2 billion, a full four-fold increase!

At this moment in 2023, Singapore GIP will change politics again and become "crazy" again ":

-Entity investment increased from 2.5 million to S $10 million and the number of employees tripled!

Investment in funds increased from 2.5 million to S $25 million, a 10-fold increase!

Singapore investment immigration GIP is unattainable!!!

Under the Global Investor Program, outsiders can obtain residence permits through three programs to invest in Singapore.

Option 1:

According to the new regulations announced by the Singapore Economic Development Board on Thursday (March 2), applicants for Option 1 must invest at least $10 million (including paid-up capital) to establish a new business entity or invest in an already operating business.

To renew a re-entry permit after the investor's first five years of permanent residence expires, the company must employ at least 30 employees, at least half of whom must be Singapore citizens and 10 must be new employees.

Under the existing regulations, to renew the re-entry permit, the applicant's company only needs to employ at least 10 new employees, half of whom are Singapore citizens, and have a total business expenditure (TBE) of 2 million yuan.

Programme II:

Applicants investing in Singapore through Option 2 must invest 25 million yuan in GIP's selected fund, which is 10 times the existing requirement.

Programme III:

Option 3 is aimed at investors interested in setting up family finance offices. In the past, investors only had to invest 2.5 million yuan in a single home with an asset management scale of at least 0.2 billion yuan. Under the new regulations, applicants must set up a single office in Singapore with assets under management of at least $0.2 billion, of which at least $50 million must be invested in four categories and completed within 12 months from the date of the approval letter.