Singapore grants permanent residency to 450 high-net-worth investors under Global Investor Programme

Around 450 high-net-worth individuals were granted Singapore permanent residency under the Global Investor Programme (GIP) between 2015 and 2025, Parliament heard on 27 February 2025.

Their collective investments in Singapore-based businesses amounted to approximately S$500 million over the decade.

 The figures were disclosed by Minister of State for Trade and Industry Gan Siow Huang in response to questions from Workers' Party Member of Parliament Fadli Fawzi (Aljunied GRC).

More than S$500 million channelled into Singapore businesses

According to Gan, GIP investors injected approximately S$500 million into new or existing Singapore-based companies over the ten-year period. More than half of this sum flowed into the professional services, info-communications, and financial services subsectors.

A further S$430 million was committed to GIP-selected funds, which invest in Singapore-based companies on behalf of participating investors.

Three investment pathways under the scheme

The GIP was launched in 2004 by the Economic Development Board (EDB). It grants permanent residency to eligible global investors, entrepreneurs, and business owners who commit substantial capital to Singapore.

Applicants may qualify through one of three pathways. The first requires investing at least S$10 million in a new or existing Singapore-based business. The second involves committing S$25 million to a GIP-approved investment fund.

The third pathway requires applicants to establish a single family office with a minimum of S$200 million in assets under management, with at least S$50 million deployed into EDB-specified investments.

Gan said approximately half of all successful applicants chose to invest directly in businesses. Around 40 per cent opted for GIP-approved funds, while the remaining 10 per cent established single family offices.

Oversight and compliance requirements

In response to queries about safeguards, Gan said the EDB works closely with GIP recipients to ensure they meet the government's stipulated economic and residency conditions. Participants must provide documentation of their investments in Singapore-based companies, and EDB officers conduct site visits to assess business operations.

Fadli also asked how many GIP permanent residents had subsequently obtained Singapore citizenship, and what percentage of individuals had allowed their re-entry permits to lapse or had not renewed them after five years due to failure to meet business milestones.

Gan said she did not have those figures to hand and invited Fadli to submit further parliamentary questions for detailed responses.

No significant shift in applicant profile since 2023 revisions

Addressing a separate question from Fadli, Gan said there has been no significant shift in the profile or volume of applicants since the scheme underwent revisions in 2023. Those changes raised investment thresholds across all three pathways.

The revisions were aimed at strengthening support for Singapore's start-up ecosystem and financial sector, while creating more job opportunities for Singaporeans.

Gan noted, however, that the composition of GIP-selected funds has evolved since the review. Prior to 2023, these funds were largely local in nature.

Applicants who opted for the fund route after the revised criteria took effect are still undergoing the application process and have yet to finalise their investments, she added.

Singapore's growing billionaire population

The GIP disclosures come as Singapore continues to attract ultra-high-net-worth individuals. According to the 2025 UBS Billionaire Ambitions Report, Singapore is now home to 55 billionaires, up from 47 in 2024.

The increase reflects six newcomers and two individuals who relocated to the city-state. Their combined wealth reached US$258.8 billion (approximately S$335 billion) in 2025, representing a 66.4 per cent increase from the previous year. The UBS report notes that 37 of the 55 billionaires are self-made.

Singapore's tax regime is widely cited as a draw for high-net-worth individuals. The city-state imposes no capital gains tax on investments and levies no inheritance or estate tax, enabling the tax-free accumulation and intergenerational transfer of significant assets.