Wealthy people seeking permanent-resident status through Singapore's Global Investor Programme will have to invest at least S$10m in a business or S$25m in an approved fund, the Singapore Economic Development Board (EDB) said in a statement today (2 March). New family offices will be required to have assets under management of at least S$200m. The changes take effect on 15 March for new applicants, but the current rules will continue to apply for existing GIP PRs and applications received before this date. The EDB said the changes are meant to "selectively attract individuals wi...
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