Singapore Investment Immigration
Investment immigration is where an individual invests a set amount of money into the country he or she wishes to gain a residency permit in, thus enabling them to live and carry out business within that country. It is important to acknowledge that each jurisdiction provides for different requirements to be met in order to qualify for a residency visa.
Why Immigrate to Singapore
Singapore is a highly sought after location for foreigners to permanently reside in due to its strong, stable and wealthy economy. Singapore offers a high standard of living with excellent health care and education. It has a relatively attractive tax regime and a strong political and legal infrastructure with strict compliance to Singapore regulations. Furthermore Singapore enables effective business relations across Asia and the Middle East. Foreign investors can benefit from Singapore’s lenient immigration rules, allowing them to gain easier approval for a residency visa than most other countries.
Singapore’s Economic Development Board (EDB) is in charge of investor immigration. Investor Immigration under the EDB is known as the Global Investors Program (GIP), which is designed specifically to help and encourage foreign investors into Singapore.
The GIP covers 4 main categories for investors, including:
- Permanent residence visa
- Multiple journey visas
- Social visit pass for entrepreneurs
- Enterpass (visa for entrepreneurs lasting up to 2 years to enable them to manage their business in Singapore).
The Permanent residence visa category is the most sought after program in Singapore. As the investor program is not run by the Government’s immigration department, this levies long delays in visa approvals and enables the department to focus their efforts on facilitating investor residency.
The Immigrant Investor program requires the applicant to apply under one of the following categories:
1) The applicant must invest a minimum of S$1 million into a new business enterprise or fund an expansion of an existing company
2) The applicant must invest a minimum of S$1.5 million in a new business start up or business expansion, an approved Singapore incorporated venture capital fund or a Singapore trust or foundation for the purpose of direct economic benefits
3) The applicant must invest a minimum of S$2 million into a new business or business expansion, a Singapore incorporated venture capital fund, a foundation or a trust. By opting for the 3rd category the investor can benefit from purchasing up to S$1 million worth of residential property, whereas the above two options do not allow for this.
Foreign investors cannot invest in any of the following projects in Singapore:
- Foreign currency
- Gambling or any illegal projects
- Non-beneficial projects or projects which have a destructive affect on Singapore society and industry interest.
Before choosing the most suitable investment program, you must assess whether you meet the Singapore investor credentials.
The main conditions one must satisfy to become a foreign investor into Singapore include:
- Must have an entrepreneurial background with relevant business experience
- Must have a substantial and successful track record in business
- Must have prepared a comprehensive investment plan or a credible and profitable business plan
The Singapore investor program offers a low rate administration fee and a quick turnaround time for approval (approximately 6-8 months). However the investment application must be made within 6 months of gaining residency approval.
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