Private Investment Company
For clients that do not require the tax incentives offered by the Family Office scheme and do not have much idea of what traditional business they can operate, setting up a PIC is the best choice. Investor clients can opt to invest less funds in your Company and obtain an EP, enabling you to apply for PR in the next 2 years.
Do note that setting up the PIC is not as straightforward a process, and many get stuck trying to open up their corporate bank account due to the incorrect structure of their setup.
Criteria of Applicant:
- Education of Degree and above.
- Age 30-50 is preferred
- Have relevant investment or business management experience
- At least invest SGD 1 to 2 million into your Company
There are 2 methods for the investment:
01
Self-Operate the company investments by hiring investment managers and deciding where to invest
02
Entrusted to third-party institutions (private banks, securities firms, custodians, etc.). Open an account under private banks or Securities companies and put at least SGD 1- 2 million for investment.
Advantages of PIC:
Who is PIC Suitable for?
- Investors who are thinking about trying out setting up a Family Office but would like to test the Singapore investment environment first
- Entrepreneurs that have global business and trade transactions, especially in Singapore
- Investors that need overseas tax planning and would like to capitalise on tax incentives in Singapore
- Investors who do not meet the criteria for a Family Office in Singapore and/or do not wish to invest huge amounts of cash into a family office structure
Duration
Typically, a client embarking on this project can complete the set-up of the Company and obtain a valid working visa as quickly as 1 – 2 months, depending on the applicant’s criteria and investment strategy. Speak to us if you fulfil the criteria and want to know more about this Program.