The Global Investor Program (GIP) is a Permanent Residency scheme specially designed for wealthy investors who wish to relocate to Singapore. Under GIP, foreign nationals can acquire a Permanent Residency (PR) status by investing a minimum of SGD2.5 million in Singapore-registered companies or GIP funds that in-turn invest in Singapore companies.
Our services fees for handling the application Singapore residence through GIP are SGD28,000 (excluding out-of-pocket expenses). If you would like to apply SPR/LTVP for your family members, an additional service fee of SGD1,800 (excluding out-of-pocket expenses) for each member of your family will be charged.
The procedure to gain permanent residence under the global investor program (GIP) takes a considerable length of time. The applicant must submit a personal profile via an e-application form (with hard copies also compiled and sent), and is then required to attend an interview, usually within two to four months of submission of the application. If all the criteria are met, an approval in principle is issued and is valid for a six-month period, during which the application must make the requisite investment under the chosen investment option and submit documentary proof of such.
After two years of permanent residence is Singapore, it is possible to apply for citizenship; however, Singapore is a strictly single-citizenship country and each applicant must relinquish all existing citizenship before naturalisation is possible. Also, all male Singapore citizens and permanent resident are obliged to participate in the countries compulsory two-year national service. |
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1. |
GIP Application Service Fees |
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Our service fees in attending to this assignment for application for GIP are SGD28,000 (excluding out-of-pocket expenses).
If you would like to apply SPR/LTVP for your family members, an additional service fee of SGD1,800 (excluding out-of-pocket expenses) for each member of your family will be charged. Fees paid are non-refundable if the application is rejected and it is subject to the approval from the relevant government authority.
Please note that you are required to pay a non-refundable application fee of SGD10,000 imposed by the government authority before submitting the application forms. Any transaction fee must be borne by the applicant and you should take this into account when issuing instructions to your respective financial institutions for the making of this payment. The application submitted will not be processed if the full amount is not received. Please also note that payments in excess of SGD10,000 are not refundable. You should send the sum of SGD10,000 in a single transaction. The application fee is to be credited to their bank account using telegraphic transfers from overseas, or local interbank transfer (Note: All intermediary bank charges should be borne by the sender and should not be deducted from the sum of SGD10,000).
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2. |
GIP Application Requirements |
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In
order to be eligible, the applicant must meet the following criteria: |
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(1) |
Established Business Owners
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(2) |
Next Generation Business Owners |
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(3) |
Founders of Fast Growth Companies |
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(4) |
Family Office Principals |
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3. |
Time of Billing and Payment Methods |
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Upon receipt of confirmation of engagement, we will issue an invoice and email it together with detailed wire instructions to you. Because of the nature of services, we require full payment in advance. In addition, once service is commenced, no service fees will be refunded. We currently only accept check, cash or TT and credit card payment through PayPal. If invoice is settled by PayPal, an extra 5% service fee will be charged.
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4. |
Application Process |
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The
following process has to be followed when applying for the PR though the GIP: |
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(1) |
Make the Payment |
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The applicant must first pay the applicant fee to the Economic
Development Board’s bank account. The application must be submitted within one
month of making the payment. |
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(2) |
Download and Submit the Application Form |
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After making the payment towards the application fee, the applicant must
download forms A, B, and C from the Contact Singapore website. The details to
be filled in the forms include the applicant’s personal details, the investment
plan and the payment details made towards the application fee. The applicant
must upload the filled application forms here. |
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(3) |
Send hard copies of the documents to Contact Singapore |
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After uploading the forms send hard copies of the required documents to
Contact Singapore. These documents include a declaration form for the
application and investment plan, the payment transaction slip (for proof of
payment), an undertaking on the terms and conditions of the GIP, etc. The
entire list of documents to be submitted can be found here. |
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(4) |
Interview Session |
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After receipt of all the documents, if the applicant is eligible for the
PR he or she will be called to attend an interview session. |
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5、 |
Approval-in-Principle PR Status: |
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On approval of the application, the Immigration and Checkpoints
Authority will issue an Approval-in-Principle (AIP) PR status that is valid for
6 months. |
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6、 |
Make investment within 6 months: |
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On issuance of the AIP PR status, the applicant will have to invest the minimum
amount of S$2.5 million either through option A of B. Documentary
evidence of your investment such as share certificates and title deeds will be
submitted to and withheld by the authorities for 5 years.
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7、 |
Approval of PR status |
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The ICA will check the documentary evidence for proof of the investment
and issue the applicant’s final approval of the PR status. |
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Note
that Contact Singapore is an alliance of the Economic Development Board and the
Ministry of Manpower that helps Singapore nationals, as well as foreign
nationals work, invest and live in Singapore. The applicant is required to
provide the government with a full business plan for the next five (5) years
and fulfill this planned investment within the first five (5) years after the
visa’s issuance. At the end of the 2nd and 4th year of
the planned investment, the applicant must provide the audited financial
statements of his company to the Economic Development Board. |
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5. |
Processing Time |
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It
will take 3-6 months to process the application. If your application is
approved (after an interview with the authorities), you will be issued an
Approval-in-Principle PR which is valid for 6 months, during which you will be
required to make your investment. Once
the documentary evidence of your investment has been received by the
authorities, you will be conferred PR status.
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6. |
Documents required |
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The
following documents will be required for PR application under Investor Scheme: |
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Note that officially endorsed translated versions must be provided for any non-English documents. |
If you wish to obtain more information or assistance, please visit the
our official website at www.kaizenvis.com or contact us through the
following and talk to our professionals:
Email: info@kaizenvis.com
Tel: +852 2341 1444
Mobile: +852 5616 4140, +86 152
1943 4614
WhatsApp/
Line/ Wechat: +852 5616 4140