If you have landed a dream job in Singapore or have received a coveted scholarship from a renowned university, coming to Singapore is a no-brainer. Even if you have other ideas such as starting a business or you plan to take up the leadership mantel in the Singapore arts and culture space, you’ll be welcomed with open arms.
But, now that you have already entered the shores of Singapore, there’s the next important question that you need to answer. Do you have long-term ambitions of settling down in Singapore? It is relatively easier for expatriates to get permanent residence in this country compared to many others.
The best part is that Singaporean permanent residents of PRs enjoy almost the same benefits that a citizen does. Singapore’s reputation as one of the most liveable cities in the world is not to be taken lightly. Here are some of the things that make Singapore so unique:
- It has a world class healthcare setup.
- You child will get to grow up in a truly cosmopolitan environment and receive top-quality education.
- It’s a free economy and devoid of protectionist policies despite an active participation of the local government.
- The system runs with clockwork precision. Service delivery is smooth and efficient.
- Inflation is low and growth is back.
- It is a sustainable economy and highly competitive. Everyone gets a fair chance.
- The government encourages innovation and industry-wide collaborations. Institutional protection of intellectual property is really strong. Singapore occupies the fourth position in the Global Competitiveness Report published by the World Economic Forum.
- Getting loans isn’t difficult once you meet the basic criteria. The government extends social security benefits (full or partial) to PRs, too. Your CPF savings will last you past your retirement and beyond.
Depending on the nature of your visa – S Pass, Employment pass, EntrePass, or something else, you’ll have your PR visa application taken up for review in due course. The time for permanent residency varies, depending on the type of visa you currently hold and extraneous factors such as competition.
Are You Eligible?
According to the Immigration & Checkpoints Authority (ICA) website, you can become eligible for a PR status:
- If you’re an aged, dependent parent of a Singapore citizen.
- If you’re a holder of the S-pass, a Q-pass, a P-pass or some other employment pass.
- If you’re the spouse of a citizen or PR in Singapore.
- If you’re a foreign investor who fulfils certain criteria.
- If you’re aged 21 or below and have been legally adopted as a child by a Singaporean citizen or PR, or were born to a citizen/PR in Singapore out of a legally recognised marriage.
- If you’re studying in Singapore.
The approval authority, ICA, has also listed out the documents you’ll need, depending on the category under which your application will fall. Check them out before you apply. If you think that you’re eligible for a Singaporean permanent residence status, you can apply through Singapore-based SMC Management Consultants Pte Ltd.
Planning to Invest In Singapore? Here’s Your Chance to Become a PR
Planning to set up a business in Singapore and create job opportunities for the locals? Through the Global Investor Programme (GIP), the government encourages foreign investors, business executives, and entrepreneurs to start a business in Singapore and make valuable contributions to the local economy.
The Economic Development Board of Singapore (EDB) will help you connect with the right opportunities and you can also access a range of immigration services through GIP. If you have a good track record and you make your intention to invest in Singapore clear, you stand a good chance of getting a permanent residency in Singapore.
To become eligible for PR through GIP, you’ll have to choose one of the following investment options:
- Invest at least S$2.5 million in a new business venture or in the expansion of an existing one.
- Invest a minimum of S$2.5 million in a GIP fund that invests in the growth and development of Singaporean companies.
Wondering How You Can Benefit from a PR Status? Here Are a Few to Start With
- As a PR, you can pursue the visa applications of your spouse, child, and/or parents.
- Your child would receive subsidised and high-quality education in the publicly owned education institutions.
- You and your family will have access to superior healthcare facilities at an affordable rate.
- You can move in and out of the country without the need for new visa registrations every time.
- You can change jobs freely.
- You can invest in business ventures at your free will.
- You’re free to buy HDB flats, subject to certain restrictions.
- You’re eligible for all kinds of loans. You’re eligible for debt consolidation plans, too.
How Can You Apply for PR Status?
Applying for PR is completely hassle-free. All you need is a desktop and connection to internet. Simply log onto the ICA website. You’ll need your SingPass account to fill up the form if you’re:
- A citizen or a PR who is applying for his/her spouse and/or unmarried child aged 21 or below.
- An S-pass or employment pass holder who is applying for PR for self.
- A citizen who is applying for PR for his/her dependent parents.
If you’re a foreign student studying in a local university, you can apply for PR using your Foreign Identification Number (FIN) and the issuance date of your immigration pass.
If you qualify as an investor under the GIP programme, you can apply through the programme itself.
How Long Will the Process Take?
The general time for processing a PR application is between 4 months and 6 months. In some cases though, it might take longer. You can visit the ICA website to check the status of your application.
How Much Do You Need to Pay?
At the point of submission of your application, you’ll be charged a non-refundable fee of S$100. You can use the following payment modes:
- Visa or Mastercard credit/debit cards
- American Express credit cards
- Direct debit from an account in one of the following banks:
- DBS or POSB
- Standard Chartered Bank
Life in Singapore has its perks. If you have been staying for a while now, you already know that probably. Imagine, the benefits of being a Singaporean PR, who are treated at par with citizens at most places.