Singapore is a country that has embraced business and investment in a big way. The state encourages foreign investors, especially women, in many different ways. One of the programs they have to promote this is the global investor program (GIP), which is open to foreigners who are willing to start or relocate their business to Singapore. These entrepreneurs are eligible for Singapore permanent residency (PR) status.
With this, there are different types of investments to cater for different people. If you are a woman who is interested in taking this direction, we will take you through the details of this.
Options in the Global Investor Program
The first option is to start a business worth SGD 2.5 million. It could be a new business, a branch of another business, or relocation of your business from another state to Singapore. Experts will guide you on the requirements, which makes it necessary to take the right direction.
The second option is when you invest SGD 2.5 million to be used in funding businesses in the country. The fund should be approved by the Singapore authorities through the right channels. Many women shy away from taking this direction although the money invested is very safe. And of course, there is profit as projected.
The last option involves the entire family. It is a big investment that will require a family office worth SGD 2.5 million. The office must have assets that are above SGD 200 million. As such, this is the biggest investment option of GIP.
GIP for Established Business Owners
Singapore targets established business people, including women, who have experience and successful track records. To be in this category, you need to own a third of one or a group of companies. The authorities will also dig deeper to see your audited books dating back three years from the time of application. According to one successful business woman in Singapore, this is a way to make sure that you are serious about the investment you are making. The state is encouraging more women to learn more about investment and try the GIP.
GIP for Founders of Growing Companies
Surprisingly, many women are doing well in business today. We have many around the world who qualify in this category by owning a company that is worth SGD 500 million. The good thing is that Singapore has not locked out anyone. Both men and women can apply for this program under the options that we have already discussed. When targeting the owners of fast-growing companies, women are in a big picture in an effort to empower them and promote gender equality.
GIP for Next Generation Entrepreneurs
As soon as a family qualifies for the GIP program, the state has a big plan for the next generation of entrepreneurs. For this, the immediate family members such as the daughter, son, or spouse are required to own 30% of the company. Likewise, they should show audited reports dating back three years. In this category, women are also encouraged to get onboard.
Applying for the PR Visa
If you are in the above category and have qualified, the process of applying for a PR visa in Singapore is straightforward. It is typically done online with the help of a professional agent with the relevant qualifications. The spouse and kids who are below 21 years old are also eligible even if they are not the owners of the business or the main contributors to the investment funds.
GIP in Singapore is a big investment for serious people. Although most women shy away from applying, they are encouraged to do so and reap all the fruits. After that, they will get a PR permit in Singapore where they can explore more business opportunities in this fast-growing economy.