Singapore Permanent Residence (PR) Benefits

Singapore Permanent Residence (PR) Benefits

Getting a Permanent Residence in Singapore can be difficult but once you get it, here are the benefits that you will be entitled to which you can learn more-

If you are a current work pass holder (Employment Pass, Personalised Employment Pass, EntrePass or S Pass), and have worked in Singapore for at least six months, you’ll be eligible to apply for Singapore PR (permanent resident) status.  According to 2018 data, there are 522,347 Singapore PR holders residing in Singapore. Singapore PR holders enjoy many of the benefits and rights that are given to full citizens. 

1. Travel Without Permission
2. Include Spouse & Children in PR Application
3. Long-Term Staying Permission for Parents
4. Change Jobs Freely
5. Financial and Tax Benefits
6. Higher Loan Priorities 
7. Full Citizenship Applicant

Singapore, or the Little Red Dot, as it is also known, is a regional powerhouse in Southeast Asia. Although tiny, its economy is one of the strongest, and foreign talent from all over the world embrace any opportunity to work and live in the city-state. The country’s economy grew by more than 3% in the third quarter from a year ago. Analysts have also predicted a higher 4.2% rise quarter-on-quarter and a 2.4% rise on a year-on-year basis.   

The ultimate goal of people working or running a business in Singapore is to obtain Singapore permanent residence as there is a myriad of benefits that come with it, but who can apply? Foreign Individuals or business owners who are current work pass holders (Employment Pass, Personalised Employment Pass, EntrePass or S Pass) and have been working in the country for the past twelve months are eligible to apply for Singapore PR or permanent resident status under the scheme for Professionals/Technical Personnel and Skilled Workers (PTS).

According to data obtained in 2016, there are more than half a million Singapore PR holders, and the numbers are predicted to increase. The process takes from six months to a year, and although a bit long, many are more than willing to go through it because obtaining permanent resident status gives them opportunities which would otherwise be unavailable.

Travel Without Permission

Live, enter and leave the country without having to apply for separate Singapore visas to work or travel. You’ll receive a Blue Card, which acts as your identity document.

Include Your Spouse and Children in PR Application

Include your spouse and unmarried children under 21 in the PR application. If your children are school-aged, they are high on the priority list, behind citizens, to enter public schools of your own choosing.

Longer-Term Staying Permission for Parents

Apply for long-stay visas for your parents. It will allow your parents to apply for a longer visa to stay in Singapore for a longer time than usual so that your family can be with you for more time than any other country in the world

Change Jobs Freely

Change jobs freely without having to re-apply for a Singapore work permit. If you hold a work-related Singapore visa and want to change jobs, you’ll have to cancel your old Singapore visa and reapply for a new one – at the risk of delay or rejection.

Financial and Tax Benefits

Reap the financial and tax benefits provided by Singapore’s Central Provident Fund (CPF) scheme. Under the CPF scheme, you and your employer contribute a monthly minimum amount to your pension fund, which can be used for purposes related to health care, home-ownership, family protection and growing your assets.

Higher Loan Priorities 

Apply and get a higher priority to borrow various loans, such as housing loans to purchase property. Singapore PR holders are also eligible to buy second-hand units of government HDB flats (only citizens can purchase new ones)

Full Citizenship Applicant

Be eligible to apply for full Singapore citizenship after a number of years of having permanent residence status, in which you will be able to obtain a Singapore passport and enjoy the same rights as locally-born citizens.

Nevertheless, becoming a Singapore PR – a process which usually takes around 6-12 months – opens up many opportunities for you to live, work and invest in the society and economy of Singapore.
If you are an existing work pass holder working in Singapore for several years, you are eligible to apply for a Singapore PR. Learn more about how we can help to secure a Singapore PR status

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