More fast track ways to get Singapore PR

From 1 Mar onward, Singapore will offer a “fast-track” path to PR status under a revised Global Investor Programme (GIP).

Established in 2004 by the Economic Development Board, the GIP sought to attract “established business owners”, whose business has an annual turnover of at least $50 million on average for the 3 years preceding application.

After a recent revision, the revenue is now $200 million on average for the 3 years preceding application. In addition, the scheme also has been expanded to include 3 categories – next-generation business owners, founders of fast-growing companies and family office principals.

Those applying under the scheme would need to meet the following criteria:

Next generation business owners – a company with an annual turnover of $500 million with the immediate family having a 30% shareholding (or by the largest shareholder) and be part of the management team,

Founders of fast growth companies – or a company worth at least $500 million and have reputable venture capital investors

Family office principals – or have investable assets of at least $200 million and have 5 years of entreprenual investment or management track record

Matthew Lee, a director at the Economic Development Board, was quoted as saying that the updates to the scheme were made to better reflect the rapid shits in the global economy, which have resulted in business opportunities and new breeds or entrepreneurs and business owners.

“We have observed that many business families in the region will likely hand the reins to their next generation. We are also keen to target founders of fast-growing companies in recognition of the growing impact and influence of the tech sector on the global economy”

What do you think?

 

 

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6 Responses to “More fast track ways to get Singapore PR”

  • Harder Truths:

    it is expected that the fast-tracked FT then start bringing in their familes, relations and villages to work for them here. Oh joy.

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  • DavidNeo&IreneVanessa:Bastards:

    Rich people are welcomed everywhere.

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  • crooked PAP:

    /// From 1 Mar onward, Singapore will offer a “fast-track” path to PR status under a revised Global Investor Programme (GIP)//

    With Wuhan Virus issue that may take months to resolve, PAP may be forced to delay the Election, as they could have planned to schedule it earlier.

    Maybe as an after-thought, since there is a delay in election, PAP may have decided to fast-track the PR process and obviously to offer citizenship immediately after giving PR. Very sure all New Citizens will vote for PAP.
    This is my guess.

    PAP is hoping to increase new citizens, after realising considerable voters from 70% sheep population could have woken up and also that Dr Tan CB party and Dr Chee’s SDP is becoming very powerful.

    PAP is extremely worried, since the handling of Wuhan virus issue has exposed incompetency gaps in 4G leaders.

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  • Not many takers:

    People and companies worth that much will come only to park their millions here to escape paying mils in taxes.
    They are offered very attractive tax incentives to relocate or invest here.
    Or theyre just too naive n disillusioned about news they hear about our well oiled rich country.
    After few years some will close shop n say bye bye.

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  • TruBlu:

    Money talks especially so in $in City.

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  • Financially Speaking:

    Actually, established companies (with $500 million turnover) & those with already high net worth ($500 million valuation, $200 million investable assets) would be reluctant to relocate to S’pore. Why would they do so?

    Instead, the EDB should target young aspiring innovators & emerging start-up entrepreneurs with potential, not monetary attributes.

    Look at how the last Billionaire capture by EDB turned out. UK Billionaire James Dyson bought 2 high priced properties in S’pore (1 purchase with Govt Approval) but he didn’t go through with his plans for an Electric Car factory in S’pore. It was a dampeners after so much expectations.

    Haven’t EDB learnt anything from that ‘incident’? Or is it S’pore’s Meritocratic Scholars believe in doing the same things multiple times, just to get a result? Meanwhile, foreigners take advantage of the system for their own benefit, not S’pore’s.

    Global Investor Programme (GIP): Those applying under the scheme would need to meet the following criteria:

    Next generation business owners – a company with an annual turnover of $500 million with the immediate family having a 30% shareholding (or by the largest shareholder) and be part of the management team,

    Founders of fast growth companies – or a company worth at least $500 million and have reputable venture capital investors

    Family office principals – or have investable assets of at least $200 million and have 5 years of entreprenual investment or management track record

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