What Are The Requirements And Benefits of Singapore PR?
The first scheme would be the Form 4A Scheme for Professionals, Technical Personnel and Skilled Workers. This scheme is eligible for any foreigners holding the following passes:
- Employment Pass (EP)
- Personalised Employment Pass (PEP)
- Entrepreneur Pass (Entrepass)
The second scheme would be the Form 4 Scheme for Sponsored applications. This is eligible for people who are:
- Spouse/child (below 21 years old) of a Singapore Citizen
- Spouse/child (below 21 years old) of a Singapore PR
- Parent of a Singapore Citizen
A permanent resident (PR) is someone who has been granted PR status by the Immigration and Checkpoints Authority (ICA) of Singapore. While not full-fledged Singapore Citizens, PRs have the right to live, work, and integrate into Singaporean society, similar to ordinary citizens. Being a Singapore PR offers several benefits:
As a Singapore PR, you and your family have the right to live, work and integrate into the fabric of Singaporean society just like ordinary citizens. As a Singapore PR, you will enjoy:
- Visa flexibility : As a PR, you have no visa restrictions to enter or remain in Singapore. You can stay in the country for an unlimited period of time, giving you peace of mind and stability.
- Family proximity : PRs have the ability to obtain Long-Term Visit passes for their parents, spouses, and children, ensuring that families can stay together and support one another.
- Education Priority: PRs enjoy priority placement for their children in public schools, ensuring that their educational needs are well taken care of.
- Career Flexibility: PRs have open doors to employment opportunities and the freedom to work in Singapore without the need for additional permits. This flexibility allows PRs to pursue their professional goals and contribute to the local economy.
- Comfortable Retirement: PRs can benefit from Singapore’s highly sought-after and well-modeled pension scheme, ensuring financial security and a comfortable retirement.
- Property ownership perks: PRs can enjoy the perks of property ownership in Singapore, which includes the ability to purchase residential properties and potentially benefit from rising property values.
- Tax Reliefs: PRs receive various tax benefits, including tax reliefs and deductions, which can lead to significant monetary savings. Additionally, PRs may have an easier time securing bank loans due to their long-term residency status.
- Entrepreneurship Ambitions: PRs enjoy a smoother process when setting up a business in Singapore. This supports their entrepreneurial ambitions and provides opportunities for economic growth and success.
- Citizenship: Being a PR is a natural path towards Singapore citizenship. PRs can work towards fulfilling the requirements for citizenship, such as a minimum period of residency, and potentially gain full Singaporean citizenship in the future.
In conclusion, obtaining Singapore PR status provides individuals and their families with numerous advantages, including visa flexibility, family proximity, education priority, career flexibility, comfortable retirement options, property ownership perks, tax reliefs, support for entrepreneurship, and a potential path towards Singapore citizenship. It is important to understand the specific requirements and eligibility criteria for PR application and seek professional guidance to increase the chances of a successful application.