PR Scheme updated to attract new breeds of Entrepreneurs and Business Owners

PR Scheme updated to attract new breeds of Entrepreneurs and Business Owners

Changes to the Global Investor Programme (GIP) were made public in the new year. The GIP, which was introduced in 2004, is also extending qualification for the scheme to those who invest $2.5 million in a new or existing Singapore-based single family office with at least $200 million of assets under management.

It currently allows foreigners to apply for PR status if they invest at least $2.5 million to start or expand a business here, or in a GIP fund that invests in Singapore-based companies.

The qualifying criteria places an emphasis on high-performing firms even thought the scheme is opening up more avenues for applications.

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