Known as a regional hub of Southeast Asia with one of the strongest economies, Singapore is one of the most attractive countries for foreigners to settle down in and start a career. Being able to apply to become a permanent resident (PR) in Singapore is a dream that many foreigners hope to achieve after having lived, worked, and stayed in the country for the long run.
In Singapore, foreigners who hold an Employment Pass, Entre Pass, Personal Employment Pass, or S Pass and have been working in the country for more than six months are eligible to apply to become a PR. For foreign students, on the other hand, must be residing in Singapore for at least two years to apply for a PR status.
These benefits are in addition to any other Singapore PR benefits discussed on other pages on this website. Remember that SPIC can help you throughout the process of applying to obtain a Singapore permanent resident status. Your PR status becomes our only goal once our services are engaged.
Aside from having a strong economy, these are some of the benefits that have attracted immigration into Singapore:
1. Stable environment
Often, the decision to make the move to another country is dependent on the benefits that their family members will receive. And for most families, the most important factor that goes into immigrating is the political environment of the prospective country.
Widely regarded as one of the safest countries in the world, with a low crime rate and political stability, Singapore is undeniably a safe place for foreigners to work and live in. Aside from the safe environment, you can also enjoy an excellent quality of life through affordable costs of living, the variety of activities you can do, and its plethora of food from many different cultures.
2. Ease of accessibility to world-class facilities
Singapore was ranked second place by the World Bank as one of the easiest places to start a business, and this emphasises the importance that goes into creating an efficient and solid infrastructure for business owners. In addition, Singapore also boasts one of the most well-networked public transport systems, making it easier for commuters to travel from one place to another at an affordable price. To top it off, PRs will also have the privilege to access world-class healthcare treatment and facilities at a subsidised rate.
Singapore citizenship is therefore extremely valuable and will make starting your own business or getting to work in the morning much easier.
3. Financial benefits from Central Provident Fund (CPF)
Singapore PRs are also provided financial and tax benefits through the Central Provident Fund (CPF). Under the scheme, it is mandatory for both you and your employers to contribute a monthly sum to their pension fund. Not only can these funds be used for retirement, but the money contributed can also be used for various necessities such as insurance, home-ownership, healthcare, and investments.
This opportunity to which you and your employer contribute also offers family protection to Singapore citizens.
4. Faster and higher loan approval rates
When compared to S-Pass or Employment Pass holders, PRs have a greater priority of having their housing and investment loans approved. PRs also follow the same eligibility scheme as Singapore citizens when it comes to purchasing resale or second-hand Housing Development Board (HDB) flats. This increases your chances of securing a permanent home in the country!
Ease of access to housing loans will make real estate purchases much easier for a Singapore permanent resident or a Singapore citizen.
5. Ease of travel
When you become a Singapore PR, you will not have to worry about rejection when it comes to the reapplication of new visas or work passes. The government will issue you a Blue Identity Card that serves as your identification document in Singapore, allowing you to live in, enter, and leave the country without any restrictions. Aside from the ease of travelling, you will also be able to choose the job of your choice or make a career switch without having to worry about your work pass being tied up with your employer.
You will not need a separate visa for travel in many countries anymore and will be able to travel in the country freely. You will thus also be able to grab up any job opportunities that you want because you will not be tied up by a travel visa or a work permit. You will also be able to get a Singapore passport if you are a Singapore permanent resident for a number of years and then obtain Singapore citizenship which will give you the same access to travel benefits as a naturally born Singapore citizen.
6. The door to citizenship
The ultimate goal for most PRs in Singapore is to obtain the status of Singapore citizenship. After becoming a PR for a certain number of years, you will be eligible to apply for citizenship, giving you more benefits and privileges. As a citizen, you can enjoy greater benefits such as voting rights, improved tax rates, more healthcare, and housing subsidies. In addition, you will also be issued a local passport, giving you the privilege to travel freely to many countries in the world.
If your PR status holds for a number of years, you can enjoy the opportunity to apply for citizenship. This opens up doors to far greater benefits still than one enjoys with Singapore PR status.
In conclusion, being a Singapore Permanent Resident or Citizen comes with many benefits and privileges that enable you to live and work within the country freely. Most foreigners who plan to immigrate to Singapore have the desire to become a PR. Instead of just simply submitting your PR application online, it is advisable for you to find out how you can improve your chances by seeking professional help.
Singapore Professional Immigration Consultancy (SPIC) is a PR application agency that has helped many foreigners establish their roots in Singapore. Learn more about SPIC’s trusted PR application services and enjoy a hassle-free PR application process and better approval rates.
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