facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog search brokercheck brokercheck Play Pause
Becoming a Singapore PR Thumbnail

Becoming a Singapore PR

Ella Bruhl-Gati

Singapore is a booming city that is overflowing with opportunity and promise; attracting people from all walks of life, it is arguably one of the largest multi-cultural hubs in the world. But what happens when the city of opportunity transforms from a place of work to a home?

For many of those who come to Singapore on an Employment Pass or S Pass, Singapore is a pitstop on the road of life, but for others it becomes somewhere to lay down roots and build a life long-term. For those, the status of a Singapore Permanent Resident may be an attractive option.

PR status can offer a host of benefits for both you and your family, such as:

  1. Job Security—Creates greater stability as you gain access to more job opportunities and move jobs without the pressure of reapplying for a work permit.
  2. Access to CPF—Both you and your employer can make monthly contributions toward your pension. (This can be used for healthcare, housing, and family security.) This can act as a safeguard for your assets in the future.
  3. Include Family—A PR holder can sponsor their spouse, children under the age of 21, and sometimes even parents to join them as PRs—allowing your family to remain as a unit in the same country.
  4. Access to Public Services—As a PR you gain access to public services not available to non-residents, such as healthcare, education, and housing. Because Singapore is a highly advanced society, these services are of a very high standard.
  5. Loan Approval—You will have higher priority for loans, such as housing loans. This can be particularly attractive because Singapore is so expensive.

To apply for Singapore Permanent Residency, one must first meet the eligibility criteria. If you are already a holder of an Employment Pass or S Pass, this allows you to apply as a foreigner.

Before applying there are some items to consider to assess whether you are a strong applicant. The ICA will take into account these factors when making their decision to either accept or deny your application.

These points include:

  1. Your family ties to Singaporeans
  2. Economic contributions
  3. Qualifications (this refers to educational degrees or certifications)
  4. Age
  5. Family profile
  6. Length of residency

All these factors are taken into consideration as they can be used to determine the true intent of your application, and whether you will make a valuable contribution to Singapore as a society. If all these conditions are met to ICA’s satisfaction, your PR status should be approved within six months of your application submission date.

Once PR status is approved, you will also receive a Re-Entry Permit (REP). It is important to note that this document must always be within validity when travelling outside of Singapore to protect your PR status.

It is also important to note that an REP renewal is not guaranteed. Your commitment to Singapore is again evaluated regarding this decision. An REP can be renewed for a maximum period of five years, but it also may only be renewed for a one-year duration.

To ensure that you will have the greatest success when renewing your REP, here are some considerations to take into account:

Status of Employment—Are you currently employed? Over the duration of your most recent REP how long have you been employed for?

Active Contributions—Are you still making an active contribution to Singapore? This can refer to both an economic contribution and a social contribution.

Family Ties—Do you have family also located in Singapore? Is your family affiliated with Singapore economically?

Your REP status as a Singapore PR is always under consideration, so it is important to know what is required of you to ensure that your PR status and its associated benefits remain intact. Singapore offers a vibrant life full of opportunity, and if you are willing to make the commitment to Singapore as a Permanent Resident, this path can offer you stability and comfort in paving the road ahead.

Becoming a Singapore Permanent Resident requires thought and care, and often it can be reassuring to speak to an expert to confirm that it is the right decision for you and your family. To further discuss your suitability, please get in touch with one of our wealth planners at Avrio.


Sources:

ICA | Apply for/Renew Re-Entry Permit (no date) ICA. Available at: https://www.ica.gov.sg/reside/PR/apply-REP (Accessed: 9 January 2025).

ICA | Becoming a Permanent Resident (no date) ICA. Available at: https://www.ica.gov.sg/reside/PR (Accessed: 9 January 2025).

Team, I.C. (2023) Becoming a Singapore Permanent Resident (PR): 6 Key Benefits. Available at: https://www.incorp.asia/blogs/6-benefits-becoming-singapore-permanent-resident-pr/ (Accessed: 9 January 2025).

This material is intended for educational and informational purposes only. It is not intended to provide specific advice or recommendations for any individual. Additionally, you should consult with your Financial Advisor, Tax Advisor, or Attorney on your specific situation. The views expressed in the material are that of the author and do not necessarily reflect those of any market, regulatory body, State or Federal Agency, or Association. All efforts have been made to report or share true and accurate information. However, the information may become materially outdated or otherwise rendered incorrect due to subsequent new research or other changes, without notice. The author nor the firm are able to always verify the content from third-party sources. For additional information about the firm, please visit the MAS Website at https://www.mas.gov.sg/  and the SEC Website at www.adviserinfo.sec.gov. For a copy of the firm's ADV Part 2 Brochure, please contact us at info@avriowealth.com.