Singapore tightens requirements for residency-linked investor programme

Singapore will raise the minimum investment required for individuals to obtain permanent residence in the city-state, the Economic Development Board (EDB) said on Thursday (March 2), as part of the government’s efforts to draw in “top-tier business owners”.

To qualify for the so-called global investor programme, investors are now required to put at least $10 million into a new or existing business, or at least $25 million through a fund that invests in local companies, up from the previous requirement of $2.5 million.

The changes will take effect on March 15 and are meant to support the local start-up ecosystem and the broader financial sector, and generate jobs for Singaporeans, the EDB said.

“EDB is making these changes to selectively attract individuals with the ability to make more economic impact for Singapore, and the affinity to be more rooted to Singapore,” it said in a statement.

The global investor programme was launched in 2004. Between 2020 and 2022, only about 60 qualified investors were granted permanent residence in the affluent Southeast Asian country each year.

Under the new rules, those looking to gain permanent residence by opening a family office would have to establish a single family office managing assets of at least $200 million. They must also channel at least $50 million locally, such as in companies listed on the Singapore stock exchange or via private equity injections into Singapore-based companies. 

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