Continuing with our series on immigration through investment, the Singapore Global Investor Programme appears as a highly attractive option for those looking to relocate to Asia. Investors interested in starting up businesses or investing in Singapore can apply for the Singapore Permanent Residence status through this Investor Programme. There are two different options, depending on the investment option selected:
As with any investment programme, there are strict requirements in relation to the company that is created or invested in through the programme. For both of Singapore’s programmes, the company must be engaged in one or more of Singapore’s listed accredited industries.
This investment programme requires the submission of a highly-detailed five-year business or investment plan, including projected employment and annual financial projections. Furthermore, the company’s turnover must be at least S$50 million in the year immediately preceding the investment application, and at least S$50 million per annum on average for the three years immediately preceding the application. Further requirements apply if the company is privately-held, and the applicant should have at least 30% of shares in the company.
Entering Singapore under the investment programme is quite a complicated procedure that requires the investor not only to fit the criteria but also to submit elaborate paperwork in relation to the business plan and their previous business experience. There are also rules in relation to how the funds must enter the country, which adds to the already strict requirements. For these reasons, Newland Chase can assist with assessing your case, providing the list of documents, gathering the paperwork and preparing a winning application while leading you through the whole process application to obtain a positive outcome for you and your family.
Once obtained, the Singapore investment programme provides a Re-Entry Permit valid for 5 years. This document allows the applicant, and their family, to travel in and out of Singapore. Subsequent to the first 5 years and provided the business plan is satisfactory, the Re-Entry Permit can be renewed for 3 or 5 years depending on the outcome of your business plan.
*Specific Requirements for Option A
To be successful when selecting Option A and investing in a new business entity or expansion of the existing business operation, it is required to fulfil the third-year milestones as outlined in the Business plan within 5 years of the Singapore Permanent Residency Approval.
In addition, if the business plan involves an investment into an existing Singapore-based company, the additional third-year milestones that the company would be required to achieve are:
a. The hiring of at least 5 additional employees
b. An additional annual total business expenditure of at least S$1 million
If you would like assistance with an investor visa application, please do not hesitate to contact us at firstname.lastname@example.org.