Buying a residential property under Global Investor Program (GIP)

[bak_kwa]

Is it possible for my father to buy a either a public or a private residential property in Singapore under the Global Investor Program jointly with me and at the same time apply for a PR for himself and my mum?

I am a Singapore citizen of Indian origin and my parents both are from India holding a Long Term pass at the moment.

Thanks

[Strong Eagle]

That doesn't work. The GIP program is for investors with substantial business track record and successful entrepreneurial background who intend to drive their business and investment growth from Singapore. You need to invest in your own business or put your money into a GIP approved fund.

[cyberbiscuitph]

Anyone, even foreigners can buy a private property wether you are an GIP or not. As long as you have the money, its open market for private properties.

Regarding PR, you can apply PR based on the guidelines set by ICA but if you are applying via GIP program, then you need to meet all criteria under GIP by checking the MAS website.

[bak_kwa]

Thanks Strong Eagle, Cyberbiscuitph for your responses. I shall go through the MAS website to look for the said guidelines for the GIP program

[mikew]

bak_kwa maybe you could consider Malaysia? It is close enough for you/they to visit on weekends (depending on where they choose to live). It is probably more attainable for them too as there aren't many options for people moving to Singapore without massive funds or if they aren't seeking work.

The government has a good site on this. Otherwise if their goal is to leave India and they are open to other countries they have lots of options. I have friends who have got residence by investing in property in Fiji, Portugal, Montenegro.. and there are lots more too.

[bak_kwa]

Hi mikew,

The intention of my parents is to buy a property in Singapore is to be closer to me and my family. Hence thats the reason for considering this place. Although Malaysia in not a bad choice especially JB I think I am trying to exhaust all available options for my parents to buy a property here before venturing on other locations

[mikew]

Good luck with it bak_kwa, it is not an easy place but yout have the right motivations so I'm sure you will find a way. And as you say Johor Bahru is a good fallback option.

[bak_kwa]

Thanks mikew