As a highly popular immigration destination, Singapore attracts countless people to this land of dreams with its prosperous economy, high-quality public education system, and stable diplomatic relations. The Singapore passport is also one of the most valuable in the world.
If you are currently a work pass holder (Employment Pass EP, Personalised Employment Pass PEP, EntrePass, or S Pass SP) and have been working in Singapore for at least 6 months, you are eligible to apply for Singapore Permanent Resident (PR) status. Obtaining Singapore PR status allows you to enjoy many benefits and rights comparable to those of a full citizen.
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What are the advantages and benefits of Singapore Permanent Resident (PR) status?
Obtaining Singapore Permanent Resident (PR) status means you have the right to live, work, and integrate into Singaporean society just like an ordinary Singapore citizen. The advantages enjoyed by Singapore PRs include:
1. More Stable Residency Status
Singapore Permanent Resident (PR) status is the first step towards citizenship and serves as a very favorable stepping stone. After a certain number of years, Singapore Permanent Residents become eligible to apply for full Singaporean citizenship and begin to enjoy the same rights as locally-born citizens.
2. No Need to Reapply for Work Passes
Individuals who come to Singapore to work no longer need to frequently reapply for work permits after becoming a Singapore PR, making job changes simpler and more worry-free. Work passes typically require company sponsorship, tying you to a specific employer. If you want to change jobs, you would need to apply for a new work pass. After becoming a PR, changing jobs no longer poses a concern regarding your residency status.
Furthermore, individuals with Singapore Permanent Resident (PR) status find it easier to secure employment compared to foreign workers. The costs associated with Employment Passes (EP) and work permits can make hiring even EP holders difficult for many local companies. Additionally, policies mandate quotas for hiring locals to protect the domestic labor market.
3. Greater Freedom of Travel
Singapore Permanent Residents (PRs) can enter and exit Singapore without needing a visa and are not subject to the 30-day departure limit. Whether for travel or work, entry and exit are more flexible, saving significant time, money, and effort on visa and permit applications. Successful PR applicants will receive a blue card, which serves as an identity document, and a Re-Entry Permit in their passport, allowing them to travel in and out of Singapore freely.
4. Main PR Applicants Can Include Family Members in Their Application
Applicants for Singapore PR can include their dependents; spouses and unmarried children under 21 can be included in the PR application. School-aged children receive priority admission to public schools of their parents’ choice, ranking just after citizens on the priority list. Parents can also obtain long-term visit passes as dependent applicants.
5. Retirement and CPF
Singapore Permanent Residents (PRs) can retire in Singapore, whereas other immigrants are not entitled to the country’s retirement system. Only Singapore citizens or permanent residents can retire within Singapore.
You can join the Central Provident Fund (CPF) scheme, where your employer is required to make mandatory monthly contributions to your social security. The funds in your CPF account can be used to pay for medical expenses, housing, and even investments.
PR status also allows you to enjoy the financial and tax benefits available under the Singapore Central Provident Fund (CPF) scheme.
6. Quality Healthcare Coverage
Singapore PRs also enjoy access to quality healthcare facilities at public and private hospitals, polyclinics, and private clinics. PRs will receive subsidies for some medical services. Singapore offers some of the best healthcare services in Asia, making this a very attractive benefit.
7. Advantages in Property Purchase
Singapore PRs enjoy significant tax benefits when purchasing property; the Additional Buyer’s Stamp Duty (ABSD) for foreign buyers is 12 times that for PRs (60% vs 5%). Eligible PRs are also qualified to purchase resale HDB flats.
8. Loan Advantages
Singapore Permanent Residents have a greater chance of getting approved for various loans, such as housing loans.
9. Entrepreneurship Advantages
Singapore offers different corporate business structures and government grants to help entrepreneurs start their businesses.
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Disadvantages of Becoming a Singapore Permanent Resident (PR)
Of course, enjoying some of the rights provided by Singapore PR status also comes with corresponding obligations, including:
National Service
If a Singapore Permanent Resident has a son, he must register for National Service at the age of 16.5. The enlistment age is typically 18, and they must serve for 2 years. Afterward, they are required to participate in 40 days of reservist training (Operationally Ready National Service) each year until they reach the age of 50 (for officers) or 40 (for other ranks).
Restrictions on Long-Term Travel
Individuals with Singapore Permanent Resident (PR) status are not advised to stay overseas for extended periods. If your Re-Entry Permit (REP) expires while you are outside of Singapore, your Permanent Resident (PR) status will be immediately revoked.
Limited Voting Rights
Singapore Permanent Residents (PRs) cannot vote. This is a right reserved exclusively for citizens.
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