Oral reply to PQ on permanent residency grants under the Global Investor Programme and cumulative investment from these GIP permanent residents from 2015 to 2025

Question:

Mr Fadli Fawzi: To ask the Minister for Trade and Industry from 2015 to 2025 (a) how many individuals have been granted permanent residency under the Global Investor Programme (GIP) with a breakdown by the investment options; and (b) what is the cumulative investment from these GIP permanent residents with a breakdown by (i) industry sector and (ii) GIP-select funds.

Oral Answer (to be attributed to Minister of State for Trade and Industry Gan Siow Huang)

1.           The Global Investor Programme (GIP) accords Permanent Resident status to eligible global investors who make significant investments to drive business growth in Singapore. Currently, qualified investors may apply through one the following options: (A) invest at least S$10 million in a new or existing Singapore-based business entity; (B) invest at least S$25 million in a GIP-select fund that invests in Singapore-based companies; or (C) establish a Singapore-based Single Family Office with at least S$200 million in Assets-Under-Management, where at least S$50 million must be deployed in EDB-specified investments. 

2.           From 2015 to 2025, around 450 individuals were accorded permanent residency through the GIP. The distribution across Options A, B and C is approximately 50%, 40% and 10% respectively. 

3.           Over the same period, about S$500 million was invested directly in new or existing Singapore-based business entities. More than half of these investments were in the Professional Services, Info-Communications, and Financial Services sub-sectors. Another S$430 million was placed in GIP funds that invest in Singapore-based companies.