As a permanent resident (PR) of Singapore, you and your
family are free to live, work and buy property in the country and be a part of
Singapore society. You are eligible for a range of perks such as the freedom to
travel in and out of the country and priority entry to Singapore’s public
education system for your children. In the workplace, your employer is required
to make monthly contributions to a compulsory pension scheme, and you would not
need to acquire new working visas every time you change your job.
Whilst you are given many rights as a Singapore PR, the
government also has rights upon you. One of them is the military service
(commonly referred to as national service, or “NS”), which is compulsory on
your sons (if they are also PRs) once they reach 18.
Thousands apply for Singapore permanent residence
There are estimated to be about 530,000 PRs in Singapore
within a population of 5.3 million people, and the numbers are increasing
(accurate for 2013).
A Singapore PR application takes approximately 6-12 months to
process and is intended for those under 50 years old who had been living and
working in Singapore for at least six months. For more information on various
PR schemes, see Singapore PR Schemes.
Preference is given to those who can contribute to
Singapore’s society and economy in terms of work experience, qualifications,
professional skills and income potential.
PR benefits and obligations
Those who succeed in their PR application can enjoy a range
of benefits that comes with the PR status. The main advantage is the
entitlement to stay in Singapore without visa restrictions. Once you obtain
your Blue Card (which is the identity document given to you once you receive
your permanent residence status), you have the right to live in Singapore and
you can leave and enter the country as you wish.
As a Singapore PR, your spouse and unmarried children under
21 are also eligible for similar status while your foreign parents are able to
receive long-stay visas. If your children are school-aged, they are high on the
priority list, behind citizens, to enter public schools of your own choosing.
Non PRs are at the bottom of the list and are often left with no choice when it
comes to schools.
Permanent residence in Singapore also enables you to change
jobs freely without having to worry about re-applying for a work permit.
Employment pass holders must cancel their working visas if they want to change
jobs, which involves inherent risks such as having your new EP application
rejected or delayed, forcing you to leave Singapore. Permanent residence
removes those risks and hassles.
Singapore PRs who have jobs are also obliged to join the
Central Provident Fund (CPF) scheme, in which you and your employer contribute
a monthly minimum amount to your pension fund. The CPF scheme helps you out
financially when it comes to health care, home-ownership, family protection and
growing your assets. By deducting your contribution from your salary, you are
able to enjoy a form of tax relief.
Another financial benefit of being a Singapore PR is that it
is easier to borrow various loans such as a housing loan if you want to buy
property.
Permanent residence also opens the door to Singapore
citizenship, should you wish to acquire Singapore nationality at some time in
the future. It may take a few years before you can apply for citizenship, but
it is the only path to obtaining a Singapore Visa For Indians (apart
from being born to a citizen).
One aspect of Singapore permanent residence that concerns
many foreigners who have young sons is the national service. Under the
Enlistment Act, all male Singapore citizens and permanent residents are liable
to register for national service upon reaching 16½ years old. They must serve
two years when they turn 18. This is followed by 40 days of Operationally Ready
National Service every year until they turn 50, for officers, and 40 for other
ranks.
When buying property, permanent residents are only allowed to
buy second-hand units of government HDB flats while only citizens can purchase
new ones.
Nevertheless, the advantages of being Singapore PR have
convinced thousands of expatriates to apply every year. With Singapore
encouraging the arrival of professionals and those who can contribute to the
country’s welfare, the PR population will continue its steady growth and more
foreigners will be able to enjoy the extra benefits and new-found rights they
receive as permanent residents of Singapore.
[Source: http://www.guidemesingapore.com/relocation/pr/singapore-pr-benefits-and-drawbacks
]