The Singapore government announced that the Global Investor Program (GIP) investment threshold has increased to at least SGD 10 million (USD 7.42 million), up from SGD 2.5 million (USD 1.86 million). Successful applicants receive a renewable five-year Singapore residency status and investors have three options to apply for the GIP: a) by investing a minimum of SGD 10 million in a new or existing business entity, hiring at least 30 employees half of which should be Singapore citizens, and 10 of which must be new employees; b) by investing a minimum of SGD 25 million, up from SGD 2.5 million previously, in a GIP-selected fund; or c) by establishing a Singapore-based Single Family Office with assets amounting to at least SGD 200 million with at least SGD 50 million invested into a GIP-selected investment fund. Through the program, the government is interested in attracting high-net worth individuals who can benefit Singapore’s economy through job creation.
This alert is for informational purposes only. If you have any questions, please contact the global immigration professional with whom you work at Fragomen or send an email to [email protected].
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