Family Office SG
Introduction of Family Office SG
The Global Investor Programme GIP, which extends an olive branch to the world's wealthiest individuals.
The "Global Investor Programme" (GIP) promoted by the Economic Development Board of Singapore (EDB) has offered an olive branch to the global billionaires. Option C in the plan is the Family Office Option (Family Office Option). Foreign investors set up a single family office (Single Family Office, SFO) in Singapore, through which the whole family of the applicant can obtain Singapore permanent resident status.
Global Business Investor Plan · Plan C
Applicants can set up a single-family office and obtain Singapore permanent resident status through Global Business Investor Plan Scheme C. Applicants must first meet the following conditions
GIP Family Office Solution Requirements
GIP's background requirements for applicants:
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Applicants must submit audit reports for the past three years, and the average annual turnover for the past three years must be at least S$200 million.
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The applicant company must meet one or more of the business sectors specified in the government-designated project.
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The applicant must own 30% of the equity.
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Applicants need to have extensive business experience and entrepreneurial background (they cannot be builders/developers/4S dealership owners).
There are three options to choose from for obtaining Singapore permanent residency through the latest GIP (Global Investor Programme):
Option A
Applicants choosing Option A must meet the following conditions:
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Invest at least S$10 million (including paid-up capital) in Singapore to establish a new business entity, or invest in an existing business.
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For an investor to be eligible for a re-entry pass renewal after the first five years of permanent residency, the company must employ at least 30 staff, at least half of whom must be Singapore citizens, and 10 of them must be new employees.
Option B
Applicants choosing Option B are required to invest S$25 million in the GIP Select Fund. The GIP Select Fund is selected by the Economic Development Board (EDB) based on a comprehensive assessment of its performance track record, new investment mandate, and sector focus.
Therefore, it is evident that the Global Investor Programme, as Singapore's only official immigration pathway to directly obtain permanent residency, has extremely high application requirements. You can then consider the following win-win solutions.
Option C
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Applicants choosing Option C need to establish a single-family office (SFO) in Singapore with assets under management (AUM) of at least S$200 million, of which at least S$50 million must be deployed in any of the following investment categories:
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Companies listed on exchanges licensed by the Monetary Authority of Singapore, such as those listed on the Main Board and Catalist of the Singapore Exchange.
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Eligible debt securities include bonds, notes, commercial paper, and certificates of deposit.
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Funds issued by managers registered in Singapore
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Private equity funds investing in unlisted companies in Singapore
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To better implement and complete your Global Business Investor Program (GIP) Plan C, JIA Family Office in Singapore is ready to serve you. We understand that every client has a different situation, so contact JIA Family Office in Singapore today to tailor a plan specifically for you, enabling you to smoothly obtain Singapore permanent residency through the GIP family office scheme.
Family office organizational structure and form
Family office structures can take a formal form (e.g., establishing an independent company) or a informal form (e.g., entrusting existing employees of the family business or hiring independent consultants to manage the funds). In Singapore, a family office structure involves the main applicant establishing two companies in Singapore: a fund company and a family office. The family office provides fund management services to the fund entity (a legal entity incorporated in Singapore), and is eligible for Singapore's tax exemption schemes for funds. The fund manager (the main applicant) manages their own or their family's assets through the family office and obtains an Employment Pass (EP).
The Employment Pass (EP) is a high-level work visa issued by the Singapore Immigration & Checkpoints Authority to foreign professionals. Spouses and unmarried children under 21 years of age can apply for a Dependent's Pass (DP); parents can apply for a Long-Term Visit Pass (LTVP). The EP work pass combines address, employment relationship, and source of income into a single Singapore tax residency status, and permanent residency (PR/green card) can be applied for in as little as 6 months.
