Singapore Citizenship By Investment 2022 – All Important Details
Singapore Citizenship By Investment 2022 Eligibility Criteria :
The GIP visa is intended for highly successful business owners or entrepreneurs. As confirmation of your commercial or entrepreneurial track record, you must meet one of the following three criteria:
1． Highly Established Business Owners
- You must have a three-year track record of successful entrepreneurship;
- You currently run a business with yearly revenue of 200 million Singapore dollars;
- You own at least 30% of the company's stock (if the company is privately held);
- The company must pursue at least one of the sectors listed in the permitted business industries.;
2. The 2nd Generation Business Owners
- Your immediate family should have a minimum of 30% shareholding or be the largest shareholder in the company;
- You have to be in the management team of the company;
- The company must pursue at least one of the sectors listed in the permitted business industries.;
3. Founders of High-Growth company
- You must be the founder and the largest individual shareholder with a 500 million SGD valuation.
- A well-known VC or private equity firm must have already invested in your company.;
- The company must pursue at least one of the sectors listed in the legal business industries.;
4. Family office principals
- You must have at least five years of experience in entrepreneurship, investment, or management.
- You must have over 200 million SGD in investible assets.
Investment Options Criterion Available for the GIP
Option A: A minimum of 2.5 million Singapore dollars must be invested in a new local business entity or the expansion of an existing local enterprise;
Option B: A minimum investment of 2.5 million SGD in GIP funds investing in companies based in Singapore;
Option C: A minimum investment of 2.5 million Singapore dollars in a new or existing Singapore-based family office with a 200 million Singapore dollar Assets-Under-Management (AUM).
Permanent Residence (PR) for family members
You can also apply for PR for members of your immediate family (your spouse and children under 21 years of age). It's important to note that all second-generation male PRs must participate in the National Service. You can apply for a renewable long-term social visit for your parents and children (over the age of 21).
Application Process for the global Investor Programme (GIP)
You must submit your application in both softcopy and hardcopy formats. For the GIP application, you must follow the steps below.
- A payment of 10,000 SGD was made as an application fee;
- Forms A, B, and C must be completed and submitted online.
- All forms and the following essential documents must be submitted in hard copy:
a. Undertaking on GIP's Terms and Conditions
b. Application for the GIP Declaration Form A
c. Form B: Proposed Investment Plan Declaration
d. Form CF contains information on paying the application fee.
e. Statutory Declaration form
f. Printout of all online-submitted e-application forms
g. Fill out Form 4 for an entry permit application (PR application)
h. Depending on whatever GIP category you are applying for, you may be required to provide additional papers. r.
Processing Time of GIP Application
- EDB must receive an application with all GIP forms completed.
- EDB invites you to an interview.
- If the requirements are met, the ICA will award an Approval-In-Principal (AIP) status valid for six months.
- Within six months, the applicant makes the requisite investments.
- Applicant must provide proof of investment and sign an investment commitment on the Terms and Conditions.
- The EDB verifies the investment, and the ICA issues the GIP Final Approval letter.
- Within 12 months of receiving the final approval letter, the applicant must formalize and obtain Singapore PR.
The entire GIP application process will take 9–12 months, and during that time, the EDB will invite you to an interview in Singapore to discuss your investment strategy. You will be given an Approval-In-Principle to make the required relevant investment within six months if you pass the interview procedure. The authorities will finalize your PR status once you produce confirmation of your investment.
You and your family will receive a Blue ID card due to your PR status, and you will be entitled to all of the perks that come with being a Singapore PR (tax reduction, education subsidies, medical subsidies, and so on).
