Recent Changes in Global Investor Programme (GIP)

posted Sep 27, 2010 10:18 PM by Poon Paul [ updated Sep 27, 2010 10:34 PM ]

(Applying Permanent Residence in Singapore by Investments in Singapore)
Recent Changes in Global Investor Programme (GIP)

Global Investor Programme (GIP)
The Global Investor Programme eases the way for foreigners to set up and operate businesses in Singapore. For more information on the Global Investor Programme and application process, please refer to the following links:

IMPORTANT NOTE:

Please take note of the impending changes to the GIP, as follows:

(I)	ASSESSMENT CRITERIA FOR GIP APPLICATION
	The following changes will take effect from 1 October 2010: For Applicants with entrepreneurial and business track record: The turnover of your company must be: - At least S$30 million per annum in the most recent year; and - At least S$30 million per annum on average for the last 3 years.
(II)	INVESTMENT OPTIONS
	The following changes in investment options will take effect from 1 January 2011: Under the programme, applicants can choose one of the following investment options: Option A: Invest at least S$2.5 million in a new business entity or expansion of an existing business operation. Option B: Invest at least S$2.5 million in a GIP-approved fund. The option of partial investment in residential property for owner occupancy would no longer be available.
(III)	PROVISIONS FOR APPLICANT’S FAMILY
	The following change will take effect from 1 January 2011: Parents and parents-in-law are not eligible to be included in the main applicant’s GIP application for PR status. Instead, they can apply for a 5-year Long Term Visit Pass (LTVP), which is renewable and tied to the validity of the main applicant’s re-entry permit.