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Political Risk Insurance Scheme (PRIS)

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Published by Enterprise Singapore
on 29 Nov 2019

The PRIS provides a 50% subsidy on political risk insurance premiums for Singapore-based companies that venture overseas.

Overview

About

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.

A typical PRI policy covers risks such as:

  • Expropriation
  • Currency inconvertibility and transfer restrictions
  • Political violence
  • Breach of contract by host government
  • Non-honouring of sovereign financial obligations

 

Eligibility

Companies applying for PRIS1 should meet the following criteria:

  • Global HQ2 anchored in Singapore
  • At least three strategic business functions3 in Singapore
  • An annual turnover not exceeding S$500 million
  • An annual total business spending4 of at least S$250,000 in Singapore for each of the past three years
  • A minimum paid-up capital of S$50,000

 

Apply

Approach any Singapore-registered PRI broker/insurer to structure and procure a PRI policy.

Should your company qualify for support under PRIS, the PRI broker/insurer will help you submit your application for PRIS premium support to Enterprise Singapore.

 

For More Info

Political Risk Insurance Scheme (PRIS)

Enterprise Singapore
230 Victoria Street #10-00
Bugis Junction Office Tower
Singapore 188024

1 Fusionopolis Walk
#01-02 South Tower, Solaris,
Singapore 138628

Email : enquiry@enterprisesg.gov.sg
Hotline : (65) 6898 1800

 

Last Modified Date: 29 Nov 2019