I am really surpised to hear this.
Call it the price to pay for wanting to live in Singapore.
Trade and Industry Minister Lim Hng Kiang has revealed that some 1,000 foreign investors have invested over $1.5 billion under the Global Investor Programme (GIP) to become permanent residents of the city-state.
These investors come mostly from North-East Asia and South-East Asia and they have either poured money into an approved investment fund or directly in a business in Singapore.
Close to 100 have invested directly in businesses ranging from engineering, R&D, shipping, asset management and services and trading, thereby creating some 1,500 jobs.
Minister Lim was replying to a question from West Coast GRC MP Ho Geok Choo in Parliament on Monday.
The GIP is aimed at attracting wealthy businessmen to set up business or invest in Singapore and to settle on the island. Mr Lim said from Jan 1, a minimum investment of $2.5 million is required to qualify for the GIP.
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