Singapore residence by investment

Singapore residence by investment is one of the most attractive routes to permanent residence in Asia for investors, entrepreneurs and family office principals. At the heart of this route is the Global Investor Programme (GIP) run by the Singapore Economic Development Board (EDB), aimed specifically at high-net-worth individuals running global business operations.

Compared with the popular residence by investment programmes in Europe or the Caribbean, the GIP has a considerably higher capital threshold and a stricter due diligence process. In return, investors gain access to one of the most transparent financial centres in the world, with a favourable tax regime, a stable legal system and a strategic position at the heart of South-East Asia.

A detailed article onThe country of Singapore.

An overview of the Singapore residence by investment programme (GIP)

The GIP grants Singapore Permanent Resident (PR) status to capable global investors, with a commitment to running business and investment from Singapore. According to theSingapore Economic Development Board (EDB), this is the only official channel for foreign nationals to obtain Singapore PR through direct investment. The programme is run by Contact Singapore, a dedicated division within the EDB.

The GIP is not a mass programme. The EDB is clear that the programme considers only applicants with a substantial business record, economic impact for Singapore and a readiness to move their investment activity to the island. Over 2015–2025, only around 450 people obtained Singapore PR through the GIP, showing how highly selective it is.

Successful investors first receive a Re-Entry Permit (REP) valid for 5 years. This REP may be renewed where the investor continues to maintain the investment conditions committed to. The current application fee is SGD 20,000, adjusted from the previous level with effect from 05/05/2025.

Applicant conditions under the EDB’s 4 standard profiles

The GIP does not accept applications based on financial capacity alone. Under the EDB’s official GIP Factsheet, applicants must fall into one of 4 standard profiles, each with its own requirements on business record and company scale. Identifying the correct profile from the outset determines the appropriate investment route.

Profile 1 — owner of an operating business

The most common profile, for founders and owners of operating businesses. Applicants must meet all of the following requirements:

• At least 3 years’ business and entrepreneurial experience
• Company annual turnover of at least SGD 200 million in the most recent year and an average of SGD 200 million a year over the 3 preceding years
• Ownership of at least 30% of the company (for a private company)
• A sector on the EDB’s approved list

Profile 2 — next-generation member of a family business

For individuals holding an executive role in a family-controlled business. The conditions comprise:

• The family owns at least 30% of the business
• Average turnover of SGD 500 million a year over the most recent 3 years
• Currently holding an active executive management role (board or senior management)

Profile 3 — founder of a growth-stage technology company

This profile is aimed at founders of high-value companies, usually in technology, who have raised capital from reputable venture funds. The requirements:

• Being the founder and largest individual shareholder
• The company valued at least SGD 500 million
• Having received investment from reputable VC or private equity funds

Profile 4 — family office principal

Aimed specifically at applicants with large personal wealth who are ready to establish a Single Family Office in Singapore. The conditions:

• At least 5 years’ experience in entrepreneurship, investment or management
• Investible net personal assets of at least SGD 200 million

The three mandatory investment options under the GIP

Once Approval-in-Principle (AIP) is granted, applicants have 6 months to carry out one of the three investment options below. Each option has a distinctly different capital threshold, investment structure and post-investment requirements.

Option A — direct investment in a Singapore business

The investor commits at least$10.000.000 SGDto a new or operating Singapore company. This option suits entrepreneurs wanting to expand their business directly on the island.

Alongside the capital commitment, applicants must submit a detailed 5-year business plan, including financial targets and job creation commitments. After 5 years, the business must employ at least 30 staff, of whom half are Singapore citizens and 10 are new hires.

The sector must be on the EDB’s approved list at Annex B of the GIP Factsheet. The fields commonly seen comprise advanced manufacturing, information technology, professional services, consumer goods and clean energy.

Option B — investment in a GIP-select fund

The investor commits at least$25.000.000 SGDto one of the funds designated by the EDB (GIP-select funds). These funds are mandated to invest in Singapore businesses, generating a knock-on effect for the domestic economy.

The SGD 25 million threshold is the new level, adjusted from SGD 2.5 million before 2023. The tenfold increase in the capital threshold shows Singapore tightening the programme and eliminating small-scale passive investment applications.

The investment must be made from the applicant’s personal account at a bank registered in Singapore. Once complete, the investor must submit the full original documentation to the EDB within 6 months of the date the AIP was granted.

Option C — establishing a Single Family Office

This is the option for the highest net worth group, suited to families wanting to base their family wealth management in Singapore. The main requirements:

• Establishing a Single Family Office (SFO) managing at least$200.000.000 SGDin assets (Assets Under Management)
• Deploying at least$50.000.000 SGDinto the investment categories designated by the EDB

The four accepted investment categories comprise: shares listed on the Singapore exchange, bonds meeting the listing standards of the MAS, investment funds distributed by managers licensed in Singapore, and private equity investment in unlisted Singapore businesses. Assets abroad may count towards the AUM, provided at least SGD 50 million has been transferred to Singapore at the time of the AIP.

Option C also carries a mandatory staffing condition: the SFO must hire at least 5 new professionals within 5 years, serving in advisory or board roles relating to legal, tax, risk management or investment matters.

The process for obtaining Singapore PR through the GIP

The application process is standardised by the EDB across 6 main steps, with total processing usually taking from 9 months to more than a year depending on the complexity of the case and the investment option.

1. Preparing the file:comprising the business record, audited financial statements, investment plan and documents evidencing capability
2. Filing and paying the fee:an application fee of SGD 20,000 to the EDB, plus SGD 100 per person in processing fees for theImmigration and Checkpoints Authority of Singapore (ICA)
3. Interview with the EDB:the applicant presents their plan for contributing to the Singapore economy
4. Receiving the Approval-in-Principle (AIP) letter:valid for 6 months to complete the investment
5. Making the investment and submitting the documents:submitting all the investment evidence within 6 months of the AIP
6. Receiving the formal permanent residence card:the EDB works with the ICA to issue PR and a 5-year Re-Entry Permit

The interview stage is usually decisive. The EDB does not merely assess finances but also examines the practical plan, the level of commitment and the feasibility of the business activity in Singapore. Applications of a passive investment character are usually less favoured than those showing an investor intending to run a substantive business.

The benefits of Singapore permanent residence

The Singapore PR card is one of the most valuable residence documents in Asia, both legally and economically. Investors and dependants are granted PR at the same time, comprising a lawful spouse and unmarried children under 21.

On residence, PR holders may live, work and study freely in Singapore without needing a work permit. Children may attend the state education system at fee levels favourable compared with foreigners. PR holders may also join the Central Provident Fund (CPF), a highly regarded retirement and healthcare mechanism.

On business and finance, Singapore levies no personal income tax on income received outside its territory, no capital gains tax and no inheritance tax. This is a great advantage for high net worth individuals wanting to optimise their global asset structure.

After a minimum of 2 years holding PR, eligible foreign nationals may apply for Singaporean citizenship. However, Singapore does not recognise dual nationality for adult citizens, so those naturalising must renounce their original citizenship. This is a point for investors who still want to keep their Vietnamese citizenship to weigh carefully.

The GIP compared with the other residence by investment programmes

In an increasingly competitive globalresidence by investmentmarket, the Singapore GIP occupies a distinctive position. The GIP’s capital threshold is many times higher than the European Golden Visa programmes such as the Portugal Golden Visa (EUR 500,000), Malta’s MPRP or the Caribbean citizenship-by-investment programmes.

In return, the GIP brings exclusive advantages the cheaper programmes do not have: Asia’s first-rank financial ecosystem, the ability to run a global business with outstanding tax advantages, and a quality of life equal to major financial centres such as Zurich or Hong Kong.

However, the GIP does not suit investors seeking residence alone. Singapore is particularly strict with passive investment applications. Where the aim is merely a legal “plan B” or a residence card for travel, the programmes in Europe or the Caribbean are usually more practical.

For further reference on citizenship by investment or residence by investment programmes, investors may consult theMap of residence and citizenship by investment.

Important points when filing a GIP application

There are several points Vietnamese investors need to note particularly to avoid a failed application. First, the EDB warns publicly about advisory firms providing misleading information about the GIP. Rely only on information direct from the EDB’s official website and on advisers with real experience of the programme.

Second, the financial file must be transparent and verifiable. As Singapore is an international compliance centre, every investment must have a clear origin and comply with the anti-money-laundering rules of theMonetary Authority of Singapore (MAS). Money flows that cannot be evidenced will lead to refusal.

Third, a male dependant on a wife’s application may have to perform National Service under Singapore law. This is a risk to take into account in family planning. Sons aged 16.5 and over who receive Singapore PR fall within this obligation.

Finally, parents and unmarried children over 21 are not eligible as dependants on a GIP application. Multi-generational families need a separate route for members outside the nuclear family.

Conclusion

Singapore residence by investment through the GIP is an option reserved for investors with sufficient financial scale and business experience. With 3 investment options from SGD 10 million to SGD 200 million in AUM, the GIP focuses on the substantive economic value an investor brings to Singapore, rather than treating this as a mere capital-raising channel.

Before deciding to pursue the GIP, investors should assess 3 factors carefully: long-term financial capacity, the ability to meet the post-investment commitments over 5 years, and the fit between their business sector and Singapore’s economic development priorities. Consulting an expert with experience of this market from the initial assessment stage saves time and increases the chances of success.