Singapore: Global Investor Programme (GIP)
Singapore's GIP remains the most prestigious—and most expensive—RBI pathway in the Asia-Pacific. Administered by the Economic Development Board (EDB), it grants permanent residency (PR) to investors who make verifiable commitments to Singapore's economy. The programme has been operational since 2004, but underwent a significant threshold increase in recent years, jumping from SGD 2.5 million to SGD 10 million at the entry level.
Investment Pathways
Option | Minimum Investment | Target Profile |
Option A — Business Investment | SGD 10 million in a new or existing Singapore business | Established business owners willing to operate locally and hire staff |
Option B — GIP-Select Fund | SGD 25 million into an EDB-approved fund | Investors seeking reduced operational complexity |
Option C — Family Office | AUM ≥ SGD 200 million; ≥ SGD 50 million deployed into specified Singapore assets | UHNW families with existing investment teams and governance structures |
Key Conditions
Option A applicants must hire at least 30 employees (half Singaporean citizens, 10 new hires if expanding an existing business) to qualify for Re-Entry Permit (REP) renewal after the initial five-year period. Option B funds must be invested from a personal bank account at a Singapore-registered bank. Option C requires a detailed five-year family office plan covering asset categories, geography, and philanthropy commitments.
Processing & Timeline
Applications are processed through the EDB with a non-refundable SGD 100 processing fee per applicant paid to the Immigration and Checkpoints Authority (ICA). Approval-in-principle (AIP) is typically issued within 4–8 months. Applicants then have six months to complete the investment and 12 months from final approval to formalise PR status. The REP is valid for five years and must be renewed based on demonstrated economic contribution.
Citizenship Pathway
Singapore PR holders may apply for citizenship after two years of residency. However, Singapore does not permit dual citizenship—applicants must renounce their original nationality. Tax residents (those present 183+ days per year) pay income tax on Singapore-sourced earnings only; foreign-sourced income is generally exempt.
Who It Fits
The GIP is designed for UHNW families, established entrepreneurs, and family office principals who want a tier-one jurisdiction with political stability, zero capital gains tax, and a direct path to one of the world's strongest passports. It is not an entry-level programme.
Malaysia: My Second Home (MM2H) & Premium Visa Program (PVIP)
Malaysia offers two primary RBI routes: the restructured MM2H programme (now a four-tier framework) and the Premium Visa Program (PVIP). Both are administered under the Ministry of Tourism, Arts and Culture (MOTAC) and the Immigration Department, and both require applications to be submitted through licensed MM2H agents—direct submissions are no longer permitted.
MM2H Tier Structure (2026)
Tier | Fixed Deposit (USD approx.) | Property Purchase Minimum | Visa Duration | Min. Stay Requirement |
Platinum | ~USD 1,000,000 | MYR 2 million | 20 years | 90 days/year (ages 25–49) |
Gold | ~USD 500,000 | MYR 1 million | 15 years | 90 days/year (ages 25–49) |
Silver | ~USD 150,000 | MYR 600,000 | 10 years | 90 days/year (ages 25–49) |
SEZ (Forest City, Johor) | Lower threshold | MYR 500,000 (Forest City only) | 10 years | Varies by age |
Applicants aged 50 and above are exempt from the 90-day minimum stay requirement. The fixed deposit earns annual interest and remains the applicant's asset throughout the programme. Up to 50% of the deposit may be withdrawn after the first year for approved expenses: property purchase, education, healthcare, or tourism.
Property Purchase Mandate
Property purchase is now a core requirement across all Mainland MM2H tiers, not an optional add-on. The purchase must be completed within the stipulated timeframe after visa approval, and properties cannot be sold for 10 years unless the applicant exits the programme or upgrades to a higher-value property.
Premium Visa Program (PVIP)
The PVIP is a 20-year, multiple-entry visa issued in five-year tranches. It carries no age restriction and permits holders to work and run businesses in Malaysia. Requirements include proof of offshore income of at least MYR 480,000 (~USD 100,000) per year and a MYR 1 million fixed deposit in a Malaysian bank. PVIP holders are not subject to a minimum stay requirement.
Tax Position
MM2H is a Social Visit Pass—it does not grant permanent residency or automatic tax residency. Malaysia's tax system generally does not tax foreign-sourced income remitted by non-residents, though this area has seen recent policy signals that warrant ongoing monitoring.
Who It Fits
MM2H Silver and Gold suit mid-range budgets seeking a long-stay base in Southeast Asia with affordable cost of living, quality healthcare, and international schooling. Platinum and PVIP target higher-net-worth applicants seeking operational flexibility and business rights. The programme does not lead to Malaysian PR or citizenship automatically.
Thailand: Long-Term Resident (LTR) Visa
Thailand's LTR Visa, launched in September 2022 by the Board of Investment (BOI), is a 10-year residence programme targeting four specific profiles. The Thai government has set a target of attracting one million high-potential foreign residents within the programme's first five years. As of January 2026, criteria introduced in 2022 and refined in 2025 remain in effect, with expanded dependent eligibility announced in early 2025.
LTR Visa Categories
Category | Key Requirement | Age Limit |
Wealthy Global Citizen | ≥ USD 1 million in global assets, including ≥ USD 500,000 in Thai investments (property or companies) | None |
Wealthy Pensioner | ≥ USD 80,000/year passive income, or ≥ USD 40,000/year + ≥ USD 250,000 in Thai assets | 50+ |
Work-from-Thailand Professional | ≥ USD 80,000/year income over prior 2 years; employer revenue ≥ USD 150 million | None |
Highly Skilled Professional | Employment in BOI-targeted industries (tech, biotech, healthcare, agriculture) | None |
Benefits
The LTR visa offers annual address reporting (replacing standard 90-day immigration reporting), multiple re-entries without additional permits, fast-track services at international airports, and the ability to include dependents (spouse, children under 20, and—following the 2025 update—parents and legal dependents with no cap on numbers). Highly Skilled Professionals receive a fast-track digital work permit issued within 30 days.
Cost & Processing
The government fee is THB 50,000 (~USD 1,500) per person for the 10-year visa. Applications are submitted through the BOI's online portal, with endorsement typically issued within 20 working days. Applicants must collect their visa at the Thailand Investment and Expat Services Center (TIESC) in Bangkok or a Thai Embassy/Consulate within 60 days of endorsement.
Health Insurance
All LTR applicants must hold health insurance with minimum coverage of USD 50,000, or alternatively maintain a bank balance of at least USD 100,000 (USD 25,000 per dependent).
Tax Considerations
LTR holders who become Thai tax residents (present 180+ days) may be subject to personal income tax on Thai-sourced employment income. The 2025 refinements relaxed certain income and work-experience thresholds but did not alter the fundamental tax treatment.
Who It Fits
The LTR suits wealthy retirees, senior remote professionals employed by large multinationals, and specialists in Thailand's priority industries. It does not lead directly to PR or citizenship but provides a stable, long-duration residence permit with meaningful quality-of-life advantages.
Indonesia: Golden Visa & Second Home Visa
Indonesia entered the RBI market in 2023 with two programmes, both of which have been refined through 2025 and into 2026.
Golden Visa (E28C)
The Golden Visa offers 5- or 10-year residence permits for passive investors. No language, education, or employment requirements apply, and the application is submitted entirely online.
Duration | Investment Threshold (Financial Instruments) | Investment Threshold (Property) |
5 years | USD 350,000 (government bonds, IDX shares, or mutual funds) | N/A at this tier |
10 years | USD 700,000 (government bonds or IDX shares) | USD 1,000,000 (residential apartment) |
For investors wishing to establish a local company, the thresholds rise substantially: USD 2.5 million (5 years) or USD 5 million (10 years). Corporate applicants face even higher bars at USD 25 million and USD 50 million respectively. As of January 2026, reduced thresholds apply under the Nusantara (IKN) Golden Visa variant: USD 5 million (5 years) and USD 10 million (10 years).
Since its launch, Indonesia has issued over 1,000 Golden Visas across 61 countries, attracting approximately USD 2.9 billion in cumulative investment.
Second Home Visa
The Second Home Visa targets retirees and digital nomads with a lower barrier: a deposit of approximately USD 130,000 (IDR 2 billion) in a state-owned Indonesian bank, or purchase of a qualifying apartment. The visa is valid for 5 years.
Limitations
Neither programme leads to permanent residency or Indonesian citizenship. Indonesia does not permit dual citizenship for adults. Golden Visa holders who spend 183+ days in Indonesia trigger tax residency on worldwide income.
Who It Fits
The Golden Visa suits investors seeking a long-term, renewable Southeast Asian base—particularly those drawn to Bali or Jakarta—without citizenship aspirations. The Second Home Visa is a lighter-touch option for lifestyle-driven applicants with moderate capital.
Philippines: FAB Investor Visa (FIV) & Special Investor Residence Visa (SIRV)
The Philippines has emerged as the region's most cost-accessible RBI jurisdiction, with two permanent residency programmes at the same USD 75,000 price point.
FAB Investor Visa (FIV)
Launched in 2024 through the Freeport Area of Bataan (FAB), the FIV grants permanent residency via a USD 75,000 fixed deposit through FAB-approved partners. Its defining feature is speed: in its first full year, the programme processed 20 permits with an average in-country turnaround of four business days. No applicant waited longer than five days from arrival to card in hand.
There are no minimum stay, net worth, or real estate purchase requirements. Holders can live, work, and study anywhere in the Philippines. Spouses and unmarried children under 21 can be included at an additional processing fee of USD 2,500 per dependent, with no extra investment required.
Special Investor Residence Visa (SIRV)
The SIRV requires the same USD 75,000 minimum but channels it into Philippine Stock Exchange-listed securities. Processing takes approximately 30 days, with an initial six-month probationary visa converting to indefinite residence once the investment is confirmed.
Tax & Citizenship
The Philippines operates a territorial tax system for non-citizen residents: foreign-sourced income is not taxable. Citizenship is available after 10 years of continuous residence (or 5 years if married to a Filipino citizen or deemed to have made special contributions). The Philippines permits dual citizenship.
Who It Fits
The FIV and SIRV suit cost-conscious investors, digital nomads, and entrepreneurs seeking a permanent residence foothold in a high-growth, English-speaking economy. The FIV's processing speed is unmatched globally. The trade-off: programme scale is still small (20 approvals in year one), and the investment earns limited or no return in its current structure.
Regional Comparison Table
Singapore GIP | Malaysia MM2H (Gold) | Thailand LTR | Indonesia Golden Visa | Philippines FIV | |
Min. Investment | SGD 10M (~USD 7.4M) | ~USD 500K (deposit) + MYR 1M property | USD 500K in Thai assets (Wealthy Global Citizen) | USD 350K (5-yr) / USD 700K (10-yr) | USD 75,000 |
Visa Duration | Permanent Residency (5-yr REP) | 15 years (renewable) | 10 years (2 × 5-yr) | 5 or 10 years (renewable) | Permanent (while invested) |
Processing Time | 4–8 months | 2–3 months | 4–8 weeks | ~30 days (online) | 3–5 business days (in-country) |
Min. Stay | None (REP renewal requires economic contribution) | 90 days/year (ages 25–49) | None | None | None |
Work Rights | Full (PR status) | Limited (Platinum/PVIP only) | Category-dependent | Business/investment; no employment | Full |
Citizenship Pathway | After 2 years PR (no dual) | No automatic pathway | No direct pathway | No pathway (dual not permitted) | After 10 years (dual permitted) |
Tax on Foreign Income | Exempt (territorial) | Generally exempt (non-resident) | Varies by category and residency status | Worldwide if 183+ days resident | Exempt (non-citizen residents) |
Dependents | Spouse + children under 21 | Spouse, children under 35, parents | Spouse, children under 20, parents, legal dependents | Spouse + children | Spouse + children under 21 |
WorldPath View
The Asia-Pacific RBI landscape in 2026 is defined by segmentation, not convergence. Each programme occupies a distinct niche, and choosing between them is less about geography than about what you are solving for.
If your priority is jurisdiction quality and a citizenship endgame, Singapore's GIP is the benchmark—but the capital required places it in a category of its own. The absence of dual citizenship is a material constraint for many families.
If you are structuring a long-stay base with moderate capital and lifestyle flexibility, Malaysia's MM2H Gold tier or Thailand's LTR Visa offer well-defined frameworks. Malaysia now mandates property purchase alongside the fixed deposit, effectively doubling the capital commitment. Thailand's LTR is lighter on capital but heavier on eligibility documentation, particularly for the Work-from-Thailand and Highly Skilled tracks.
If you want a renewable Southeast Asian residence permit with minimal operational burden, Indonesia's Golden Visa (from USD 350,000) provides a straightforward, fully online process—but carries no citizenship pathway and triggers worldwide taxation if you stay beyond 183 days.
If speed and affordability matter most, the Philippines' FIV is without peer: permanent residency for USD 75,000, processed in under a week, in an English-speaking economy that permits dual citizenship. Its limitations are scale and maturity—this is a programme still in its early innings.
No programme in this region is a passive decision. Each carries ongoing compliance obligations—stay requirements, deposit maintenance, REP renewals, or economic contribution metrics—that require active management. Engage qualified legal and tax advisors before committing capital.
