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 attract a steady stream of people seeking to become permanent residents (PR) in Singapore.
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 as your identity document. This card means 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. Once your application is approved, they will be issued Dependant’s Passes, which will allow them to live and study in Singapore with you.
Lastly, another benefit for Singapore PRs is that it would be easier to apply for long-stay visas for your parents if they want to visit. The most common type of long-stay visa for parents of Singapore PRs is the Long-Term Visit Pass (LTVP). The LTVP is valid for up to 2 years and allows parents to stay in Singapore for extended periods of time.
Related Guide: Setting up a Business in Singapore with a Dependent Pass
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. One great benefit for Singapore PRs is that it allows you 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, rent a low-cost flat that’s subsidised by the government, or even purchase brand new or second-hand flats. There are many different grants and schemes available for PRs regarding housing, which you can check at the Housing and Development Board website for a more detailed look at your options.
Aside from affordable housing, another benefit for Singapore PRs is that if you list your unmarried children under 21 years old, they’re entitled to be on the priority list when it comes to your chosen public school.
If you are an adult with PR status that is interested in getting further education, you can do so and get it subsidised as part of the government’s education initiatives. Here are links to these subsidised programs to learn more about them:
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- SkillsFuture Mid-Career Enhanced Subsidy: Higher course fee subsidies to Singaporeans aged 40 and above
If you prefer a more hands-on approach to improving your skills, you can consider taking on some freelancing gigs or side hustles in Singapore. Are you interested? Check out our article on the side hustles you can do in a weekend.
Access to Central Provident Plan (CPF)
The Central Provident Fund (CPF) is like a savings account that helps you save money for the future. It is a mandatory social security savings scheme in Singapore.
When you work in Singapore, a portion of your salary goes into your CPF account every month. This money is set aside for different purposes. One part of the CPF is meant for your retirement. It accumulates over time and can be used to support you financially when you stop working.
Another part of the CPF is for healthcare expenses. If you have medical needs, you can use this money to pay for medical treatments and hospital bills. It helps to cover your healthcare costs and ensures you have access to medical services when you need them.
The CPF also has provisions for housing. You can use your CPF savings to buy a home or pay for a housing loan. It helps you with the costs of owning a house and provides a way for you to invest in property.
Overall, the CPF is designed to ensure financial security and support for individuals throughout their lives.
The First Path Towards SG Citizenship
You will be eligible to apply for Singaporean citizenship after two years of obtaining PR status. Gaining citizenship means having the same rights and access as a naturally-born Singaporean, including the right to vote in elections, better tax rates, and subsidies for housing options. Not to mention, you will get a Singapore passport, often touted as one of the most powerful passports in the world.
As described above, there are various advantages of being a Singapore permanent resident. But, on your path towards PR or citizenship, you’ll need to pass the first hurdle of obtaining an Employment Pass (EP). Our team can guide you through this process smoothly, ensuring you’re on the right track to unlock the benefits of Singapore PR.
Are you interested in submitting a Singapore PR application? You can start the application after working under a valid employment visa for at least six months. For a higher chance of approval, it’s advisable to work for at least a year with a Singaporean company before considering permanent residency. Lanturn can help you navigate through the process.
Discover the various work passes available in Singapore by exploring our comprehensive guide on how to obtain them.
RELATED REFERENCE: What is ONE Pass and What are the Requirements to Work in Singapore
We Can Help You Get There!
Looking to secure an employment pass or permanent residency in Singapore? Count on Lanturn to handle the process for you.
Since 2017, our team of immigration experts has provided top-notch assistance for EP/PEP and PR applications, maximising your chances of success. Benefit from the expertise of our seasoned professionals as they evaluate your eligibility and offer personalised assistance for a successful application.
From the initial consultation to navigating paperwork and obtaining the necessary passes, Lanturn will be with you every step of the way.
Schedule an appointment today to begin your journey with Lanturn and make your aspirations a reality.
