Singapore’s Global Investor Programme (GIP) granted permanent residency (PR) to approximately 450 high-net-worth investors over the decade from 2015 to 2025, with those investors channeling roughly S$930 million (approximately US$732 million) into the Singaporean economy.
Minister of State for Trade and Industry Gan Siow Huang disclosed the figures in Parliament, in response to questions from Workers’ Party MP Fadli Fawzi.
The total breaks down into two streams. GIP recipients invested about S$500 million (US$394 million) directly into Singapore-based business entities, with more than half of it flowing to professional services, information and communications, and financial services.
A further S$430 million (US$339 million) went into GIP-select funds, which invest in Singapore-based companies. The aggregate investment figure amounts to an average of S$93 million (US$73 million) per year in new capital targeting Singapore-based enterprises and funds.
The investor mix reflects the program’s three admission pathways. Roughly half chose the direct business investment route, which requires a minimum of S$10 million (US$7.9 million). Approximately 40% opted for a GIP-select fund at a minimum of S$25 million (US$19.7 million).
The remaining 10% established single-family offices, which require at least S$200 million (US$157 million) in assets under management. Of that amount, applicants must deploy at least S$50 million (US$39 million) in Economic Development Board (EDB)-specified investments.
Gan noted that the EDB works with GIP recipients to ensure continued compliance with both economic and residency commitments throughout their stay.
45 Investors a Year, on Average
Over 10 years, the 450 approvals imply an average intake of 45 investors annually, somewhat below the 60-per-year average the EDB cited when it quadrupled the program’s minimum investment requirements in March 2023, suggesting the higher thresholds may have dampened intake in recent years.
The figure is consistent with Singapore’s approach of running the GIP as a curated pipeline rather than a volume program.
The GIP has been available since 2004 and requires that applicants demonstrate a substantial business track record and entrepreneurial background.
Yet meeting all eligibility criteria does not guarantee approval: Singapore retains full discretion to reject applications without providing reasons, and it does not publish acceptance or rejection rates.
Singapore in the Regional Context
The GIP competes for the same pool of globally mobile high-net-worth individuals as a growing number of Asian residence programs.
Hong Kong relaunched its Capital Investment Entrant Scheme (CIES) in March 2024 with a HK$30 million (approximately US$3.8 million) threshold, and HK$10.5 billion in approved investments had flowed into the program by early 2025, making it a direct, fast-growing competitor to Singapore for regional capital.
Malaysia’s MM2H (Malaysia My Second Home) program, following its 2024 overhaul, has approved 9,511 participants in just 18 months and is approaching US$1 billion in total inflows in less than two years; though it does not offer a path to permanent residency.
Singapore’s physical presence requirement of one day per year is notably light, making GIP-derived PR practical for investors whose business interests span multiple countries.
The program does not offer a direct path to citizenship: Singapore does not recognize dual nationality, and citizenship approval is fully discretionary, typically taking several years even for applicants who have held PR status and met all ongoing commitments.
