Discover the significant advantages of obtaining Permanent Residency (PR) in Singapore.
If you currently hold a work pass (such as Employment Pass, Personalised Employment Pass, EntrePass, or S Pass) and have been employed in Singapore for a minimum of six months, you meet the eligibility requirements to apply for Singapore PR (permanent resident) status. As of 2018, there are approximately 522,347 Singapore PR holders residing in the country. Singapore PR holders enjoy numerous benefits and privileges similar to those of full citizens.
As a Singapore PR, you can enjoy the following:
- Seamless Mobility: Live, enter, and exit the country without the need for separate Singapore visas for work or travel. You will receive a Blue Card, serving as your identification document.
- Family Inclusion: Include your spouse and unmarried children under 21 years old in the PR application. If your children are of school age, they receive high priority, after citizens, for admission into public schools of your preference.
- Long-Term Visit Pass for Parents: Apply for Long-Term Visit Pass for your parents.
- Job Flexibility: Change jobs freely without the necessity of reapplying for a Singapore work pass. If you hold a work pass and wish to switch jobs, you will not have to cancel your existing work pass and go through the reapplication process, which carries the risk of delays or rejection.
- Pension System Participation: Contribute to the Central Provident Fund (CPF), a flexible pension system, and withdraw a lump sum upon reaching the retirement age of 55.
- Financial and Tax Benefits: Reap the financial and tax advantages offered by Singapore’s Central Provident Fund (CPF) scheme. Through this scheme, you and your employer make monthly contributions to your pension fund, which can be utilized for healthcare, home-ownership, family protection, and asset growth.
- Access to Loans: Apply for loans with higher priority, including housing loans for property purchases. Singapore PR holders are also eligible to buy second-hand government HDB flats (new ones can only be purchased by citizens).
- Path to Citizenship: Become eligible to apply for full Singapore citizenship after a certain number of years as a permanent resident. This will grant you a Singapore passport and the same rights as citizens born in the country.
- Thriving Job Market: Benefit from the stable job market in Singapore, offering ample employment opportunities. Additionally, if you desire to start your own business, various business structures and government grants are available to kickstart your venture.
- Quality Healthcare: Access excellent healthcare facilities, including government and private hospitals, polyclinics, and private clinics.
It is important to note that becoming a Singapore PR entails certain obligations. For instance, if you have male children who are Singapore PR holders, they are required to enlist in the military service, known as national service, at the age of 16.5 years and serve for two years upon turning 18. Subsequently, they are obliged to participate in 40 days of Operationally Ready National Service annually until they reach the age of 50 (for officers) or 40 (for other ranks).
Nevertheless, obtaining Singapore PR, which typically takes around 6-12 months, opens up a wealth of opportunities to live, work, and invest in Singapore’s society and economy.
If you have any company-related queries, you may email us at [email protected]. When in doubt, seek legal advice or consult an experienced licensed Employment Agency with the Ministry of Manpower.
Yours Sincerely,
The editorial team at Singapore Employment Agency
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Little Big Employment Agency Pte Ltd is a licensed Employment Agency with the Ministry of Manpower with license number 19C9790.