Invest $1.5m to get PR for whole family
According to the Straits Times news report “Ex-official sent back to China by S’pore” (May 10) – “Li (Huabo) qualified for PR in 2010, after he invested $1.5 million in an approved fund in Singapore.”
Invest $2.5m plus “stringent” criteria to get PR
In this connection, according to the TR Emeritus article “EDB screws up in allowing PRC fugitive to get PR” (May 10) – “It was earlier stated that Mr Li and his family were “welcomed” to Singapore through EDB’s Global Investor Programme (GIP). Under GIP, foreigners and their family members are granted PR status if they invest at least $2.5 million in Singapore [Link].
A foreigner is “eligible to apply for PR” under GIP if he or she has:
- (a) A substantial business track record; and
- (b) A successful entrepreneurial background.
There are apparently “stringent” assessment criteria for GIP applications [Link]:
Obviously, in Mr Li’s case, the information submitted to EDB must have been untrue, since he is merely a junior Poyang county official and not some big-time entrepreneur who can possibly earn 100 million yuan over 3 years in the refinery industry.
How did the EDB officials miss the questionable information submitted by Mr Li in his application for PR under GIP?”
How many of such “PRs” out of 348,654 new PRs?
So, since the fact of the reality is that he was able to get PR status for not just himself but his entire family by merely investing “$1.5 million in an approved fund in Singapore” – makes you wonder how many of such PRs there are amongst the 348,654 new PRs granted in the last eight years, from 2007 to 2014?
Win battles lose war