Investor Visa in Singapore - Visa under the Singapore Global Investor Program
Investor Visa in SingaporeUpdated on Thursday 07th October 2021
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Currently, foreign investors can acquire two types of investor visa in Singapore, under the Global Investor Program. The programs are designed especially to fit the needs of foreign businessmen who are willing to relocate to Singapore for the purpose of developing a business activity.
Below, our team of lawyers in Singapore has prepared a short presentation on this subject and, if you need legal advice on how to apply for any of the investment programs presented in this article, you can always rely on our team for legal assistance or representation.
How can foreign investors apply for the Global Investor Program in Singapore?
In order to obtain an investor visa in Singapore under the Global Investor Program, foreign investors should qualify for one of the two options prescribed by this program; please mind that this program provides the right to obtaining permanent residency in Singapore to qualified persons. Below, our law firm in Singapore has prepared a short presentation on the basic requirements of the program:
- invest minimum S$2,5 million in one of the two programs (they each have the same minimum capital investment, but other different requirements);
- have at least 3 years of proven business experience or entrepreneurial activity;
- if you already have another company elsewhere, it must have at least S$50 million turnover in the last financial year and minimum S$50 million on average in the last 3 financial years;
- as an applicant, you must have at least 30% of the shares of the said company, if the company is a private company;
- you must also provide access to the company’s last 3 years of financial records.
Please mind that if you want to participate in this program, it is required of you to start a business only in specific sectors that are approved by the institutions in Singapore. For example, you can start the business activity in sectors such as: automotive, aerospace, education, healthcare, engineering, pharmaceutical, medical technology and others. Our team of lawyers in Singapore can present other business sectors that are available when applying for this program through which one can obtain the investor visa in Singapore.
Can investors bring their family members in Singapore?
The right to bringing the family members in Singapore is limited to specific types of visas. Luckily, the investor visa in Singapore provides this right, given that the foreigners will invest a large capital in the Singaporean society and that they will also be granted with permanent residency.
This is why foreign investors can rest assured that they can bring their family members to live with them in Singapore, as long as they meet the qualifying criteria. Under the above mentioned program, one can bring his or her spouse in Singapore, as well as the couple’s children with an age below 21 years old.
However, it is important to be aware of the fact that in the case in which the couple has male children with an age below 21 years old, the said persons (who are considered dependent to their family) are required to complete the National Service program.
You can request more details regarding this subject from our team of lawyers in Singapore, who can present foreigners the basic requirements young boys have to comply with, the age when the service must start as well as other important aspects concerning this matter. For any questions, do not hesitate to address to our law firm in Singapore.
In the case in which the foreign investor has children with an age above 21 years old, then a different immigration procedure must be followed. The children above 21 years old have to apply, in this case, for a Long-Term Social Visit Pass, which grants the right to living in Singapore for a period of 5 years.
How can foreign businessmen apply for the investor visa in Singapore?
The program comprises numerous steps, documents and forms that have to be prepared. The investor must complete Form A, which is necessary for permanent residence application, the Form B, in which the businessman will detail the business plan for the investment in Singapore, the papers and documents that can be used as evidence for being qualified for this program and any other documents and forms that can be required by the immigration officials.
Please be aware that the investor visa in Singapore can be issued after a period of 6 to 8 months since the application was made and in this time, the investor should prepare for the interview with the Singaporean officials. For more details, do not hesitate to contact our team of lawyers in Singapore, who are qualified to assist you in the process of obtaining a visa for investment purposes.