SINGAPORE – Lion Island
Republic of Singapore, the island nation in Southeast Asia, is located off the southern tip of Peninsular Malaysia and equatorially 137 km north. Singapore’s territory consists of a lozenge island, and about 60 smaller islands.
Singapore has a hot, humid climate throughout the year, with an estimated population of more than 5 million people and multicultural backgrounds, which is a feature that makes Singapore a unique tourist destination every year.
Known as one of the world’s leading and leading commercial centers in Southeast Asia, as the fourth-largest financial hub and one of the five busiest seaports in the world, The economy of Singapore is global and diverse.
According to many organizations around the world, tSingapore has the third highest per capita income in the world. The country has high international rankings related to education, health care, government transparency, and economic competitiveness.
“Anyone interested in starting a business or investing in Singapore can apply for Permanent Residents (PR) status through the Global Investment Program (GIP) (EDB) and the Singapore Immigration Control Department (ICA) coordinate the management. “
|GDP PER CAPITA (2017)||55.252 USD|
|GDP GROWTH||3,6 %|
|MAJOR ECONOMIC SECTOR||Services, Industry|
|CORPORATION TAX||17 %|
|PERSONAL INCOME TAX||22 %|
|MONTHLY COST OF LIVING||~ 1000 SGD|
Immigrate to Singapore by Global Investor Program (GIP) is a program that managed by the Economic Development Board (EDB) and Immigration & Checkpoints Authority of Singapore (ICA).
- Option A: Invest at least S$2.5 million in a new business entity or in the expansion of an existing business operation.
- Option B: Invest at least S$2.5 million in a GIP fund that invests in Singapore-based companies.
- Investors are eligible to apply for PR under the GIP if have:
- A substantial business track record
- A successful entrepreneurial background
- Business proposal or investment plan (for option A)
ASSESSMENT CRITERIA FOR A GIP APPLICATION
- Investor must possess at least 3 years of entrepreneurial and business track record.
- Must produce audited financial statements of your company for the last 3 years.
- If your company is privately-held, you should have at least 30% shareholding of the company.
- Your company’s turnover must be at least S$50 million in the year immidiately preceding your application, and at least S$50 million per annum on average for the three years immidiately preceding your application.
- English is widely spoken.
- Low interest income tax
- No resident tax; do not tax with sources of income from abroad.
- No minimum residence time required
- Passport have high international ranking, easy travel to other countries around the world.
- Clean environment and hygiene
- International Education
- Daily flights to major cities around the world