There are two routes to become a Singapore Permanent Resident, there is the Global Investor Program (GIP Scheme) and there is the Professionals/Technical Personnel & Skilled Worker Scheme (PTS Scheme).

Here is a guide for those who are looking to obtain Singapore Permanent Residency through the GIP Scheme. This scheme is made to suit foreign individuals who wish to set up and operate a business in Singapore and is set up and administered by the Economic Development Board of Singapore (EDB). Sometimes referred to as the Investor Scheme, it requires a foreigner to invest at least SGD$2.5 million to qualify for the scheme.

Under the Investor Scheme, there are two investment options:

Option 1: Invest at least S$2.5 million in a new business startup or expansion of an existing business operation.
Option 2: Invest at least S$2.5 million in a GIP-approved fund that invests in Singapore-based companies.

Eligibility Singapore PR Criteria

Assessment Singapore PR Criteria for Option 1 Applicants

In order to qualify for the GIP Scheme you must:

Meet the minimum investment requirement of S$2.5 million in a new business start-up or expansion of existing business operation;
Possess at least three years of business or entrepreneurial track record;
Submit audited financial statements of your company for the last three years;
Have at least 30 per cent shareholding in the company if it is privately owned;
Submit a three-year business/investment plan with employment and annual financial projections;
Ensure that your existing business meets the following turnover requirements:
1. For companies in the real estate or construction-related industries: A minimum of S$200 million in the most recent year and at least S$200 million per annum on average for the last three years.
2. For companies in other business sectors: A minimum of S$50 million in the most recent year and at least S$50 million per annum on average for the last three years.

If you own more than one business, you must submit the financial statements of the company which has the highest turnover. You are free to consolidate your businesses in order to meet the minimum annual turnover criteria. Authorities will also take into account the following factors:

Your role and position in the company.
The profitability of your company.

Note that you must meet the employment and financial milestones that you have set in your business/investment plan at the end of a three-year period.

Assessment Singapore PR Criteria for Option 2 Applicants

In order to qualify for the GIP Scheme you must:

Meet the minimum investment requirement of S$2.5 million in a GIP-approved fund that invests in Singapore-based companies.;
Possess at least three years of business or entrepreneurial track record;
Submit audited financial statements of your company for the last three years;
Have at least 30 per cent shareholding in the company if it is privately owned;
Ensure that your existing business meets the following turnover requirements:
- For companies in the real estate or construction-related industries: A minimum of S$200 million in the most recent year and at least S$200 million per annum on average for the last three years.
- For companies in other business sectors: A minimum of S$50 million in the most recent year and at least S$50 million per annum on average for the last three years.

Here is a list of funds with the Global Investor Program (GIP) Fund status

Your role and position in the company.
The profitability of your company.

Approved Business Sectors for the GIP Scheme
You can choose to invest in any of the following business sectors under the GIP scheme:

Biomedical
Healthcare services
Pharmaceuticals and biotechnology
Medical technology
Alternative energy
Education
Professional services
Electronics including electronic components, electronics systems, and semiconductors
Chemicals
Engineering services
Energy
Environment technology
Media and entertainment
Telecommunication
Information technology
Philanthropy including NGOs, NPOs, etc.
Lifestyle and sports including art galleries, museums, auction houses, art logistics, art theatres, production houses, sports academies, headquarters of sports companies, etc
New technology such as intelligent systems, nanotechnology, new-technology enables industries, etc.
Logistics
Precision Engineering
Transport engineering including aerospace, marine, land, oil and gas
New technologies including intelligent systems, nanotechnology, etc.

Permanent Residence for Family
At present, under the GIP permanent residence scheme, you can also apply for permanent residence for your family members as per the below guidelines:

Your spouse and children 21 years and under are eligible to apply for PR under your PR application. Male dependents will be liable for National Service.
Your children who are over 21 years and parents are eligible to apply for the five-year Long Term Social Visit Pass (LTSVP), which is renewable and tied to the validity of your re-entry permit.

Application Procedure
The following documents will be required for PR application under Investor Scheme:

Form A: Application for Permanent Residence for Investors
Form B: Proposed Investment Plan
Undertaking on the Terms & Conditions of the Program
Form 4: Application for An Entry Permit to Enter Singapore
Other supporting documents, if applicable

Note that officially endorsed translated versions must be provided for any non-English documents.

It will take three to six months to process your Global Investor Program application. If your application is approved (after an interview with the relevant authorities), you will be issued an Approval-in-Principle PR which is valid for six months, during which you will be required to make your investment. Documentary evidence of your investment such as share certificates and title deeds will need to be submitted to and withheld by authorities for five years. Once these documents have been received, you will be conferred Singapore PR status.

Yours Sincerely,

The Singapore Immigration Guide Editorial Team