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Foreign Entrepreneurs Investment
Foreign investors with substantial capital and good
entrepreneurial track records may apply for permanent residence under
the Global Investor Programme thru Singapore Economic Development
Board (EDB).
Service Charge Statement (Option B)
Document Required
Option B
1. Approved investments
Invest at least S$1.5 million
in a new business start up, expansion of an existing operation,
approved Singapore-incorporated Venture Capital Fund or
Singapore-incorporated foundation or trust that focuses on economic
development
The Investor shall also be allowed to invest in
Singapore-incorporated venture capital funds and also
foundations and trusts which focus on echancing economic
value to Singapore, for in research and development activities.
2.
Evidence of Investment
Within 6 months of obtaining
in-principal approval of PR, the investor will be required to produce
bank statement showing evidence of the S$1.5 million of
the investment
Should the investor choose to invest in Venture
Capital Fund, the investor required to place the acquired share
certificates in the fund with the EDB within two weeks of closing the
transaction with the Venture Capital Fund company.
The investor is required to give an undertaking
that during the retention period, such investment shall not be
transferred (or enter into an agreement to sell or transfer),
assigned, mortgaged, used as collateral or be disposed of save with
the prior written approval or the EDB and upon such conditionns as may
imposed by the EDB.
The investor is required to furnish EDB with the
independently audited financial report of their investment in the
business entity at the start of the third and fifth year of the
retention period. In the third year, the investor is required to
submit both the first and second year audited financial reports an
similarly in the fifth year.
3. Retention Period
The investor is required to
maintain the investment of the options for a period for FIVE
years commencing from the date of final approval of PR. All documents
shall be retained with the EDB during the retention period.
4. Inclusion of Family Members and Additional Investment Required for
Parents / Parent-In-Law
The investor can include his "immediate
family" in this application. "Immediate family" is defined as :-
Spouse (one only)
Unmarried children 21 years of age and below
The investor allow to apply for their parent or
parent-in-law for a Long-Term Social Visit Pass. Additional investment
amounts of S$300,000 per person under the investor’s PR
application.
The investor unmarried children over the age of 21
years are eligible to apply for Long-Term Social Visit Pass. |
