Global Investor Programme (GIP)

This is a program for high net worth individuals having a substantial business track record, an entrepreneurial background and a business proposal or investment plan as regards their future plans in Singapore. This option permits the applicant to get the PR status, in the first instance. The applicant can apply for Permanent Residence (PR) status for self and his immediate family (spouse and unmarried children 21 years of age and below).

Investment Options

The applicant can choose among any of the following options

1. Invest at least S$1 million in a new business startup or expansion of an existing business operation or
2. Invest at least S$1.5 million in a new business startup, expansion of an existing operation, approved Singapore-incorporated venture capital fund or Singapore-incorporated foundation or trust that focuses on or
3. Invest at least S$2 million in a new business startup, expansion of an existing operation, approved Singapore-incorporated venture capital fund or Singapore-incorporated foundation or trust that focuses on economic development. Residential property can be purchased with not more than 50% of the investment amount.

Singapore EntrePass

Entrepass (Short name for Entrepreneur Pass) is an excellent opportunity for entrepreneurs/ businessmen and investors who wish to start a business in Singapore. They can also use the status so derived to relocate to Singapore and run their businesses from the country.

Key features

• Under this option the applicant will make the application for Entrepass before incorporating a company in Singapore and if rejected, he has no obligation to set-up a Singapore company. That implies savings in costs.
• It is important to know that one does not need to apply for Entrepass to incorporate and register a company in Singapore. However, incorporation without Entrepass requires a local nominee director. That service is normally available but at an additional fee. If the company is incorporated first, then one can apply for Entrepass or employment pass at a later stage. Applying for Employment pass can be much simpler since it does not require business plan. The disadvantage of incorporating the company before either of the status is approved comes in if the application for either of the passes is disapproved. In that case one must continue the services of local nominee director as regards continued existence and operations of the incorporated company.
• This pass is required only if the applicant wishes to relocate to Singapore to run his company operations.
• Those holding the Enterpass can apply for Singapore Permanent residency at a later date.
• It permits one to bring spouse and children below 21 years to Singapore and they can live with the pass holder.
• It is initially issued for 1-2 years at a time and is normally renewable, so long as business continues to be viable.
• In case, you wish to bring in your overseas employees to join the Singapore based business, you can sponsor them under the employment pass and not on Entrepass.
• The processing time for Entrepass (subject to all documents and information in place) is normally around 4-8 weeks.
• The key requirements are a good entrepreneurial background, funds to cover up the start-up and operational expenses in early stages, benefits to Singapore vis-á-vis your proposed business and finally a Sound business idea backed up by a good business plan.
• There are no compulsory qualifying minimum investment criteria and the amount will be dependent on the proposed business in Singapore. In an ideal situation, the applicant should have enough funds to meet startup expenses and enough cash to cover business expenses, including his salary, for initial 3-6 months.
• Required documents includes the completed application form, business plan, copies of educational certificates and evidence related to past business and management experience, passport copy and recent photograph. We can assist in preparation of business plan by local experts.
• Normal process will include preparation of business plan and filing of application with accompanying supporting documents (two weeks); Application processing by authorities (Six weeks); Against successful acceptance a temporary approval is granted and within 30 days of the approval the applicant must submit evidence to the authorities as regards incorporation of the corporation, opening bank account, and putting in the capital as advised in the business plan. This will be followed by a notification (issued within 2 weeks of submission of above) for collection of Entrepass. One must collect this pass within 6 months. One may not be physically present in Singapore till the Entrepass is ready for collection
• A business plan must provide details related to and address areas as regards Business idea; product/service; Market analysis; Market plan; Operational plan; Financial projections; Management team and supporting documents
• Entrepass permits the holder to enter and leave the country with relative ease.
• Our local associates can act as local sponsors/nominee director(s), wherever required.

Entrepass versus Employment pass

• EntrePass is a special employment pass designed specifically to facilitate the entry and stay of entrepreneurs who are ready to start a new business in Singapore.
• Entrepass is issued with an initial validity period of 1-2 years, and upon the submission of a comprehensive business proposal. Applying for employment pass does not require any business plan.
• In case of Entrepass, the applicants would normally include those with past business and entrepreneurial experience. In contrast company owners, directors, professionals, managers, executives, specialist or middle-level skilled workers are permitted to apply under employment pass.
• First-time Singapore EntrePass applicants will be assessed based on the credibility of their proposed business plans, which should include the objective or nature of business, products or services offered, marketing strategies, development plans and milestones, projected sales turnover, intended amount of investment and staffing plan. Professional and academic qualification of the applicants is not of critical importance in case of Entrepass. Issuance of employment pass and the category under which it is issued is dependent upon the salary, professional, and academic qualifications of the applicant. This implies that business owners with low academic qualifications and non-existent professional qualifications are best suited to apply for Entrepass.
• A local sponsor, your employer in most cases, is required to apply for the Employment Pass. No local sponsor is required to apply for Entrepass.
• Educational and Business authenticity and viability will be used to assess subsequent EntrePass renewals. The Singapore EntrePass is renewable for as long as the business remains viable.