Lanturn Logo

Corporate Services

LCS Platform

Incorporation

Corporate Secretary

Accounting

Immigration & Visas

KYC & AML

Tax

Trademark Registration

Payroll

Launch with Lanturn

Fund Services

LCS Platform

Fund Formation

Fund Administration

KYC & AML

MAS Licensing

Resources

Blog

Webinars

Guides & Ebooks

Case Studies

Contact Us

Country:

The Lanturn Blog

Carefully curated and thoughtfully written content for businesses of any size.

IMMIGRATION

5 Benefits of Becoming a Singapore Permanent Resident (PR)

February 2022

Veli Kattoulas

It’s no secret that Singapore is one of the best countries to live in. Its stable government, enviable economic landscape, universal healthcare, and adequate infrastructure attracts a steady stream of people seeking to become permanent residents (PR). In fact, 2018 data shows that 522,347 Singapore PR holders currently reside in Singapore. Becoming a permanent resident gives you several benefits that an employment pass holder does not have. Essentially, you can reap most of the benefits and rights that come with Singapore citizenship. Here are five benefits:

Immigration stability

Once your application is approved, you’ll receive a Blue Card that acts as your identity document. This card means that you can live, enter, and leave Singapore without additional visas or permits. Additionally, your card and status only need to be renewed every five years, unlike the employment pass, which needs to be renewed every one to two years. 

You can also include your spouse and unmarried children in your Blue Card application to give them the same benefits. Lastly, it would be easier to apply for long-stay visas for your parents, if they want to visit. 

Employment stability

It’s customary for every employment pass holder to reapply or renew their pass when changing jobs or employers, but doing so comes with the risk of being denied and forcing you to leave Singapore. Becoming a permanent resident affords you the ability to change jobs whenever the opportunity arises without worrying about your status. Additionally, some companies may prefer hiring a permanent resident, so they won’t deal with the hassle of renewing employees’ existing employment passes. 

Access to low-cost housing and education

It’s easier to put down roots, once you have permanent resident status,. You’ll be given higher priority when applying for housing loans to purchase a property. You’ll also be able to buy a second-hand HDB (Housing Development Board) unit, which is more affordable than condominiums. Having a PR status means that you can purchase a property at a much lower budget than foreigners who can only purchase private residences without government assistance, which will undoubtedly result in a heftier price tag.

Aside from affordable housing, obtaining a PR status means that if you list your unmarried children under 21 years old, they’re entitled to be on the priority list when it comes to the public school of your choosing. Of course, the only students with higher priority are Singaporean citizens.

Access to Central Provident Plan (CPF)

Enrolling in CPF means that you and your employer contribute a monthly minimum amount for your pension fund. Such funds come with several schemes related to healthcare, house ownership, family protection plan and other investment schemes to grow your contributions and assets in the long run. Doing so ensures you have enough assets to live on after your retirement.  

The first path towards citizenship

You will be eligible to apply for Singaporean citizenship after two years of obtaining PR status. Gaining citizenship means that you have the same rights and access as that of a naturally-born Singaporean, including the right to vote in elections, better tax rates, and subsidies for housing options. Not to mention, you‘ll get a Singapore passport that is often touted as one of the most powerful passports in the world.  

Gaining a PR status surely comes with several benefits that are described above. But, in your path towards PR or citizenship, you’ll need to pass the first hurdle of getting an employment pass. 

If you are interested, how do you submit a Singapore PR application? Such an application can be started after you have worked under a valid employment visa for at least six months. However, it’s important to remember that the longer you work for a Singaporean company, the more likely your application is approved. Therefore, it’s advisable to work at least a year before considering applying to be a permanent resident.

Need help in your application for an employment pass or permanent resident? Let Lanturn take care of the process for you.  We offer unlimited appeals in our one time pricing to ensure your passes are issued.

Contact us now!

Start the journey

Speak with one of our experts to explore a tailored solution for your business

Prefer us to email you?

Leave us your contact we we will be in touch.

All fields are mandatory

Is your company/fund already based or going to be based in Singapore?

Lanturn Logo

Terms & Conditions

Privacy Policy

ACRA UEN : 201722435H | ACRA Filing Agent : FA20180066. GST Registration Number: 201722435H Employment Agency License : 19S961 © 2022 Lanturn Pte Ltd. 160 Robinson Road #24-09, S0689142

Resources

Blog

Webinars

Guides & Ebooks