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6 Benefits Of Being A Singapore Permanent Resident (PR) [Updated 2022]
September 21, 2022
Singapore is well-known as one of the wealthy city-states in Southeast Asia. It is also renowned for its conservatism and strict local laws, and the country prides itself on its stability and security.
Being a Singapore Permanent Resident (PR) has always been a status that is valued highly, and it comes with a wide range of benefits in Singapore.
However, it is also important to note that not every application for Singapore Permanent Residence will be successful, and it is subject to the approval of the Immigration and Checkpoints Authority Singapore (ICA). You will have to hold a work visa (Employment Pass or PEP, etc.) for at least six months before you can apply for permanent residence status in Singapore.
This article will explain why you should apply for a PR status and the benefits of Singapore PR.
Understanding The Key Benefits Of Being A Permanent Resident in Singapore
Becoming a Singapore Permanent Resident (PR) opens the door to plenty of opportunities and desirable benefits that come with it.
1. Simplified Travelling (Entering and Exiting Singapore)
Permanent residents can enjoy simpler visa procedures to travel to various countries. This is a highly convenient PR benefit, especially for people who are often required to travel for business or visit families overseas.
However, it is important to know that they will have to hold a valid Re-Entry Permit (REP) and must ensure that the REP does not expire outside of Singapore. For more information on REP, you can check our article on Re-Entry Permits (REP).
2. Entitled To Better Job Opportunities
One of the most enticing PR benefits in Singapore is that you can seek out better job offers or accept other offers – instead of waiting to cancel your employment pass and re-applying while changing jobs.
The need to cancel and re-apply employment passes can be troublesome. Whether by the new company or the Ministry of Manpower, one’s employment application might take some time to process. This can result in valuable time and money lost.
Having more options for job opportunities is not the only benefit of being a permanent resident in Singapore. You may also be given a more attractive basic salary and employee benefits as a Singapore PR.
3. Family Benefits of A Singapore PR
One of the more important Singapore permanent resident benefits is being able to plan for your family.
As a Singapore PR, you can apply for a long-term visit pass (LTVP) for parents, spouses, and children. The LTVP significantly increases your chances of employment in Singapore as well!
For your school-aged children, the priority to enter Singapore public schools will be high on the priority list. Furthermore, you may enrol your child in the school of your choice, and you will be eligible for government subsidies for education or childcare subsidies too.
4. Financial And Tax Benefits Of A Singapore PR
With a Singapore PR status, you will be granted tax benefits such as tax reliefs and rebates like any regular Singapore Citizen.
Like any other Singapore Citizen, a Singapore PR is entitled to Singapore’s Central Provident Fund (CPF), which is like a pension fund. CPF contributions are a must when you are working for a company. The taxable income will be lower after deducting CPF from the salary.
The CPF fund can reap interest growth over the years of your economic contributions. Cumulatively, you can use the amount inside your CPF for your or your family’s health care, homeownership, family protection, asset management and retirement plans.
5. Better Housing Benefits and Ownership
As a Singapore PR, there is also a higher priority or increased chance to secure loans at an attractive rate or higher amount.
For instance, a Singapore PR can effectively tap on housing loans to purchase his property or resale government housing units.
Public Housing in Singapore
They will also enjoy better tax rates and government-subsidized public housing from the Singapore Housing Board Development (HDB). Benefiting from government subsidies is undoubtedly one of the more attractive benefits of Singapore PR.
(For context, a Singapore PR can only purchase an HDB house when their spouse is a Singaporean or a Singapore PR.)
6. Higher Priority in Borrowing Various Loans
Aside from housing loans, a Singapore PR status allows one to apply for vehicle loans and entitlement to lower medical expenditures.
Summary About The Benefits of A Permanent Resident in Singapore
In summary, the six key Singapore PR benefits are:
- Simplified Travelling (Entering and Exiting Singapore)
- Better Job Opportunities
- Family Benefits of Singapore PR
- Financial and Tax Benefits of Singapore PR
- Better Housing Benefits And Ownership of Singapore PR
- Higher Priority in Borrowing Various Loans
Becoming a Singapore Permanent Resident opens up many opportunities for you to live, work, and invest in Singapore’s society and economy. Two years after obtaining your PR status, you can consider applying for Singapore Citizenship, allowing you to settle in Singapore for life!
Many factors affect the success of your application for Singapore Permanent Resident. With the strict evaluation of ICA, we advise that you understand your Singapore PR chances before applying.
Using the collective knowledge, years and experience of our team, we designed an online profile analysis tool that you can use to gauge your Singapore PR chances.
The Immigration People team
How The Immigration People Can Help You To Apply For Singapore PR
For us, we work with our clients to assist in their PR applications from start to end.
In-depth profile analysis is a given, and we will maximise your strengths to the best of our abilities based on our knowledge and expertise.
Aside from preparing relevant, error-free, high-quality documents for you and your spouse, we would also craft an exclusive cover letter that effectively describes why ICA should pick your spouse out of thousands of applicants.
Ultimately, the right Singapore immigration consultants will be able to increase your Singapore PR chances well.
Contact us for your free Singapore PR consultation today.
Frequently Asked Questions About The Benefits Of Being A Singapore Permanent Resident (PR)
How Long Does Singapore Permanent Resident Status Last?
A Singapore PR status lasts for five years. You can apply for renewal through the Immigration And Checkpoints Authority Singapore (ICA).
How Do I Extend My PR Status While Not In Singapore?
It is important to note that you should have a valid Re-Entry Permit (REP) while on a PR status. If you wish to renew your REP, you can visit the ICA website and apply for a renewal through the e-REP service.
Why Is Having A Singapore PR Status Beneficial To Your Family?
As briefly mentioned in the article above, having a PR status allows you to apply for Long-Term Visit Passes for your spouse and dependents, and it opens up multiple opportunities for career, housing and childhood education.
In the long term, it also makes you eligible to apply for Singapore Citizenship.
Can I Apply For A Singapore Citizenship While Holding Singapore PR?
After holding a PR status for at least two years, you are required to be at least 21 years old. Alternatively, you must have a PR status for two years and be married to a Singapore Citizen for two years.
Does A Permanent Residency Status Grant Me Voting Rights?
No, it does not
Is Singapore PR Entitled To Maternity Leave Benefits?
Regardless of your nationality, you will still be eligible for maternity leave benefits. You are entitled to take 12 weeks of maternity leave from work if you are covered by an employment act and have been employed for at least three months.
Are There Any Restraints To The Public Benefits Of Permanent Residency?
There are some notable exceptions to the public benefits of permanent residency, including not being able to vote and other public benefits such as limited medical care, and getting better public schools.
Will I Be Required To Service National Service (NS)?
All male Singapore citizens and permanent resident males, unless exempted, are obliged to perform National Service (NS). After completing their full-time military service they will be called Operationally Ready National Service (NSmen). An NSman’s obligation ends at the age of 50 or 40 years, depending upon his rank.
Those applying for PR status under the Professional/Technical Personnel and Skilling Workers Scheme or the Investor scheme are exempt from military service. To find out more information on Singapore’s military service, contact us today.
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