Eligibility Criteria and Requirements for Singapore Investment Visa
Requirements for the Global Investment Program are:
- investor is expected to invest no less than 2,500,000 SGD into either a GIP fund or a new (existing) company;
- applicant must be able to prove a significant 3-year business and entrepreneurial track record by providing his company’s audited accounts for the last 3 years;
- applicant has to prove his company’s turnover of at least 50,000,000 SGD during the last year before the application and at least 50,000,000 SGD a year (on average) during the last 3 years;
- applicant must hold at least 30% of shares if the company belongs to privately-owned entities;
- applicants who are going to invest in new or existing companies must:
- provide the government with a full business plan for the next 5 years and;
- fulfil this planned investment within first 5 years after the visa issuance;
- at the end of the 2nd and 4th year of the planned investment, the applicant must provide the audited financial statements of his company.
Singapore Investor Visa Rejected
Rejections of the GIP applications are a common thing as the demands set by the authorities are really high. Poorly compiled papers and investment plans that don’t bear the government’s scrutiny usually get rejected. Failing to meet at least one of the many criteria can result in rejection as well. That is why it is crucial to ensure you wring the maximum out of your situation and all possible trumps are exhausted. This can be made by enlisting a visa professional that has abundant experience in helping high-net individuals to enter Singaporean investment backstage.
The most often reasons for rejections are the investor’s business insecurity or inappropriate business sector chosen for the investment. This doesn’t, however, prove your business’ incapability: meaning your unfitness for the GIP, the rejection doesn’t close the door to Singapore completely. There is an alternative and an easier way how successful entrepreneurs can get involved in Singapore’s business. Please contact our visa team to get your GIP eligibility assessed and to try on the alternative. Whatever your situation is, we always have a visa solution for you!
How to Apply: the Best Singapore Investment Visa Scheme
Entering Singapore under the GIP scheme is a quite complicated procedure. It requires the investor not only to fit the criteria, but also to handle an eleborate and tedious paperwork: the business plan and papers that document the successful track record of your present business. What is more, there are a lot of rules how the funds must be infused correctly.
To apply for the GIP, an entrepreneur must:
- submit the PR application (the investor can include his/her eligible family members into his/her PR application: there is no need for all of them to apply for the PR separately);
- propose his investment (business) plan containing financial projections for the first 5 years (applicable if the investment is made in a new or an existing company);
- submit an Entry Permit application;
- submit other supportive documentation (please inquire about your personal list of documents from our visa experts).
The authorities will need up to 8 months to process the submitted application and documents. Professionally compiled papers can shorten this processing time significantly. In the same time, papers that don’t bear scrutiny will not only prolong the processing time but also cause rejection if the authorities find your candidacy insecure for the GIP. It is better to involve visa professionals who know the latest requirements and a sure approach to the authorities.
If the application is successful, the Immigration and the Checkpoints Authority (ICA) sends the investor the In-Principle PR approval letter that gives the investor 6 months to perform his investment. Bank statements that prove this investment will be used to get your PR status approved finally. From the moment you get your blue card of the Singaporean permanent residence, your contribution to the society and commitment to your investment plan starts.