What Are The Benefits of Singapore Permanent Residency?
Every year, there is an estimate of 30,000 foreigners receiving the status of Permanent Resident(PR) in Singapore. As one of the safest, developed and a city that offers good educational system, Singapore is considered one of the best cities in Asia to reside in. If you are a foreign professional who already has an employment pass and is keen on immigrating to Singapore for work or wish to bring your whole family to start a new life here, the next step will be to apply for PR status. You will be able to enjoy more benefits than just being a work pass holder.
Requirements – Application of Permanent Resident Status
You are eligible to apply for Singapore Permanent Resident if you are a/an:
- Spouse of an SC or PR, or child of an SC or PR who is unmarried and aged under 21
- Aged parent of an SC
- Holder of an Employment Pass, Personalized Employment Pass, Entrepass or S Pass for at least six months
- Student studying in Singapore
The Benefits of Being a Singapore PR
- The following are some but not all of the benefits you stand to gain as a Singapore PR
- You will be able to reside, travel in and out of the country without having to apply for separate Singapore visas. A “Blue Card” which serves as your identity document will be issued once you have successfully obtained the status.
- Spouses and unmarried children who are under the age of 21 will be eligible for Singapore Permanent Residence status as well. Your children, if are of school-aged will be able to enroll into Singapore public schools of your choice.
- Your parents will be eligible for long-stay visas
- During the change of choice of employment, you will not have to re-apply for a Singapore work permt. Hence, there is no longer a need to worry about delays or rejections of work passes.
- You’ll also get to enjoy the monetary and tax benefits provided by Singapore’s Central Provident Fund (CPF) scheme. Once you are eligible for the CPF scheme, like all other Singaporeans, you and your employer will be contributing a monthly minimum amount to your CPF account, which can be used for health care, home purchase, family protections etc.
- Purchase of second hand public flat units (HDB)
- You will be able to apply for various loans, which will include housing loans to purchase property.
- Eligibility to apply for Singapore citizenship after certain years of being a permanent residence status.
If you need any assistance in applying for Singapore PR, contact us today to provide you with updated information and support.
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