Political Risk Insurance Scheme (PRIS)
Political risks insurance (PRI) is an important tool for companies to safeguard their projects and/or investments in overseas markets against political uncertainties. Companies can also use PRI to unlock access to mid to long-term financing as it gives lenders additional assurance that the impact of political uncertainties over the performance of a project or investment has been mitigated. With Political Risk Insurance Scheme (PRIS), qualifying Singapore companies can receive premium support for PRI policies.
Enterprise Singapore will support 50% of the premium for up to the first three years of each PRI policy. This is subject to a maximum amount of S$500,000 per qualifying Singapore-based company.
Companies applying for PRIS should meet the following criteria:
• Global HQ anchored in Singapore
• At least three strategic business functions in Singapore
• An annual turnover not exceeding S$500 million
• An annual total business spending of at least S$250,000 in Singapore for each of the past three years
• A minimum paid-up capital of S$50,000