What is the Family Office (FO) program under the Global Business Investor Program (GIP) of Singapore's official investment immigration project?

This question needs to be answered by a professional company. In this regard, Singapore Fortune Group will explain to you that the Global Business Investor Program (GIP) is planned and managed by the Liaison Department of Singapore Economic Development Board. Those who are interested in starting a business or investing in Singapore can apply for permanent residency (PR) in Singapore with their spouses and unmarried children under 2 1 year-old through the Global Business Investor Scheme (GIP).

According to the latest plan in 2020, GIP investment immigrants in Singapore provide three investment schemes:

Option A: Invest not less than S $2.5 million to establish new business entities or expand existing business operations.

Option B: Invest not less than S $2.5 million in the Global Business Investor Program Fund, which mainly invests in Singapore enterprises.

Option C: Invest not less than S $2.5 million to set up a new or existing single financial office in Singapore. The office must manage assets of not less than S $200 million.

In Scheme C, as long as not less than S $50 million of its offshore assets have been transferred to Singapore and held by a single financial firm in Singapore, the offshore assets can be regarded as part of the assets under management.

The requirements of Scheme A and Scheme B are not discussed here for the time being. Interested parties can contact us in Singapore for more details.

In the family financial office scheme of Scheme C, the qualification requirements for the person in charge of the family financial office are:

A) The applicant must have at least five years' experience in entrepreneurship, investment or management; and

B) The applicant must have an investable net asset of not less than S $200 million. (Remarks: Investable net assets include all financial assets except real estate, such as bank deposits, capital market products, collective investment plans, life insurance policies and premiums paid by other investment products. )

At the same time, the applicant of Scheme C must submit a detailed five-year business plan. The content should be based on the items listed in Form B of the application, including the corresponding expected number of employees and annual financial forecast. The plan must indicate the functions of the applicant in a single financial office, as well as the asset allocation and investment strategy, including asset category, investment industry and region.

It should be noted that the approval process of global business investment plans takes about nine to twelve months. The application submitted will be subject to due diligence. If the application form submitted by the applicant is incomplete, the whole approval process will be extended.