Raised the minimum investment required for foreign investors to obtain permanent-resident status

On 15 March 2023, the Government of Singapore raised the minimum investment required for foreign investors who seek permanent resident (PR) status. The aim of this move is to generate more employment opportunities for locals, benefit from an influx of wealth, and attract high-quality investors to Singapore. In 2004, Singapore launched the Global Investor Programme (GIP), which required foreign investors to invest at least $1.85 million in a new or existing business, a GIP fund that invests in local companies, or establish a Singapore-based Single-Family Office (SFO) with Assets-Under-Management (AUM) of at least $148 million. However, the new regulation requires investors to invest at least $7.4 million in a new or existing business, or a minimum of $18.5 million through a GIP fund. On the other hand, the minimum investment required for a family office remains unchanged at $148 million worth of assets under management.

• Type:

  • Entry and establishment (Other)
  • Treatment and operation (Immigration regulations)

• Industry:

  • Not industry specific

• Sources:

  • Government of Singapore, CFP to Qualify as a Global Investor Programme ("GIP") Select Fund for Year 2023 GIP Fund Application Cycle for The Economic Development Board, https://www.edb.gov.sg/en/how-we-help/becoming-a-global-investor-programme-fund.html, 02 Mar 2023
  • themalaysianreserve, Singapore hikes PR threshold for ultra-rich, https://themalaysianreserve.com/2023/03/06/singapore-hikes-pr-threshold-for-ultra-rich/, 06 Mar 2023
  • vietnamplus, Foreigners required to invest more in Singapore if seeking permanent residency, https://en.vietnamplus.vn/foreigners-required-to-invest-more-in-singapore-if-seeking-permanent-residency/249389.vnp, 06 Mar 2023