The Global Investor Program (GIP) was created by Singapore’s Economic Development Board (EDB) to encourage investment in-flows, economic growth and employment. Under the GIP, investors have different options for investing into industries in biomedical sciences, clean energy, infocomms and media, among others.
With the program’s extensive provisions and options, entrepreneurs are able to invest in the Singapore economy hassle-free.
Investment and Industry Options
Investors may choose to invest different amounts, which are categorized as outlined below:
(i) Option A: Invest at least SGD 1 million in a new business startup or expansion of an existing business operation
(ii) Option B: Invest at least SGD 1.5 million in a new business startup, expansion of an existing operation or a GIP-approved fund
(iii) Option C: Invest at least SGD 2 million in a new business startup, expansion of an existing operation or a GIP-approved fund
Entrepreneurs can undertake Singapore Company Incorporation within a range of business sectors, as listed below:
(i) Biomedical sciences (healthcare services, medical technology, pharmaceuticals & biotechnology)
(ii) Clean energy
(iii) Educational & professional services
(iv) Electronics (electronics components, electronics systems, semiconductors)
(v) Energy, chemicals & engineering services
(vi) Environment technology
(vii) Infocomms & Media (IT/computing & e-business, media and digital entertainment, telecomunications)
(viii) International organizations, non-government organizations & philanthropy
(ix) Lifestyle & sports (visual arts, performing arts, sports)
(xi) New technologies (intelligent systems, nanotechnology, new technology industries)
(xii) Precision engineering (machinery & systems, PMC/printing & packaging)
(xiii) Transport engineering (aerospace, marine/land/oil & gas)
Provisions for Entrepreneurs’ Family
An entrepreneur who incorporates a company in Singapore via the program gains eligibility for their spouse and children (below 21 years old) to apply for Singapore Permanent Residence under the investor’s own residence application. Male dependents will then be liable for Singapore National Service.
An investor’s unmarried children over 21 years old are eligible to apply for the renewable 5-year Long Term Visit Pass, subject to the investor’s re-entry permit validity.
Eligibility for Application
Entrepreneurs and senior corporate managers may also take advantage of the GIP. Applicants with an entrepreneurial and/or business track record are required to have the following:
(i) At least 3 years of entrepreneurial track record with audited financial statements
(ii) An annual turnover of at least SGD 10 million in the most recent year and an average annual turnover of at least SGD 10 million over the last 3 years
(iii) Share ownership and substantial role in company operations and profitability
Senior corporate managers who wish to apply for the GIP may do so as well, provided they possess the following:
(i) At least 10 years of corporate management experience
(ii) A current C-level management role in the company, i.e. Chairman, CEO, CFO, CTO
(iii) Current company turnover of at least SGD 100 million
Senior corporate managers are also required to choose Option A for the GIP application.
With its aim to attract international entrepreneurs to undertake Singapore company incorporation, the Global Investor Program provides entrepreneurs an opportunity to tap into Singapore’s robust economy and enjoy its business-friendly practices and incentives.
The country’s impressive economic track record coupled with its policies to stimulate business creation and growth helps investors see positive returns on their investments.