Singapore is a popular destination for people seeking opportunities to live, work, and study. Applying for Singapore Permanent Residency (PR) is a viable option for those who want to make Singapore their permanent home. Still, the process can be complex due to multiple requirements and guidelines.
The Immigration People specialises in assisting in presenting your best strengths and preparing a robust Singapore Permanent Residence application.
Our company offers personalised case management services to improve the competitiveness of your application for permanent residency in Singapore. Our team of experienced immigration experts will guide you through the entire process, including understanding the importance of Singapore's PR requirements and identifying the necessary factors and documents to increase your chances of approval.
Almost 100,000 foreigners desire to become Singapore permanent residents, every year. Over time, obtaining the coveted PR status gets more competitive, with only an average approval quota of 30,000 getting their PR application in Singapore approved by the Immigration & Checkpoints Authority (ICA).
This quota keeps Singapore's PR population size stable at approximately 530,000 and provides a pool of candidates who may be suitable Singapore citizens.
With that many candidates applying, how can you prepare a successful PR application? How can you increase your approval chances?
ICA evaluates each Singapore PR application fairly. Multiple factors are considered, such as family ties, family profile, economic & social contributions and more.
There are several paths to getting PR in Singapore, each with different eligibility criteria set.
Let's take a look at how you can decide on the scheme that best suits your current circumstance and profile and how it contributes to your PR eligibility in Singapore:
Any foreign individual working in Singapore on a work pass (excluding Work Permit) may apply for permanent residence to the ICA for consideration. The applicant may include their spouse and any unmarried child(ren) below 21 years of age who were born to them within the context of a legal marriage or has been legally adopted by them.
Eligibility
A Singapore Citizen or PR is allowed to sponsor their spouse and any unmarried child(ren) below 21 years of age (born within the context of a legal marriage or legally adopted) by applying for permanent residence (PR) to the ICA for consideration.
Eligibility
Foreign students in Singapore may apply for permanent residence (PR) to the ICA for consideration.
Eligibility
Outstanding international arts professionals (well-recognised artists in your own country or with an international reputation) with a strong track record of local engagements may apply for permanent residence (PR) to the National Arts Council (NAC) and, subsequently, the ICA for consideration upon approval by the NAC.
Eligibility
Eligible global foreign entrepreneurs, business owners and investors who are interested in starting up a business, providing economic contribution or investing in Singapore may apply for permanent residence (PR) to Contact Singapore, a division of the Singapore Economic Development Board (EDB) and subsequently, the ICA for consideration on approval by EDB.
The qualifying criteria for different investor profiles are as such:
You must possess at least 3 years of entrepreneurial and a good business track record;
You should currently be running a company1 with an annual turnover of at least S$200 million in the year immediately preceding your application, and at least S$200 million per annum on average for the three years immediately preceding your application;
If your company is privately held2, you should have at least 30% shareholding in the company; AND
Your company must be engaged in one or more of the industries listed in Annex B.
Your immediate family should have at least 30% shareholding or is the largest shareholder in the company you use to qualify;
This company's annual turnover must be at least S$500 million in the year immediately preceding your application, and at least S$500 million per annum on average for the three years immediately preceding your application;
You must be part of the management team of the company (e.g. C-suite / Board of Directors); AND
Your company must be engaged in one or more of the industries listed in Annex B.
You must be a founder and one of the largest individual shareholders of a company with a valuation of at least S$500 million;
Your company must be invested into by reputable Venture Capital or Private Equity firms; AND
Your company must be engaged in one or more of the industries listed in Annex B.
You must possess at least 5 years of entrepreneurial, investment or management track record; AND
You must have net investible assets of at least S$200 million.
(NB: Net Investible Assets include all financial assets, such as bank deposits, capital market products, collective investment schemes, premiums paid in respect of life insurance policies and other investment products, excluding real estate.)
Investment Options | |
Option A: | Invest S$10 million in a new business entity or in the expansion of an existing business operation in Singapore. |
Option B: | Invest S$25 million in a GIP-select fund3 that invests in Singapore-based companies. |
Option C: | Invest S$50 million in a new or existing Singapore-based single-family office having Assets-Under-Management (AUM*) of at least S$200 million. |
1 You may also consolidate up to 2 of your businesses, all of which must
only be engaged in one or more of the industries listed in Annex B, to meet the minimum
turnover criteria
2 If your company is publicly listed, you must be one of the largest
individual shareholders.
3 Please download the updated list of GIP funds from EDB's website at www.edb.gov.sg/gip.
* Offshore assets can be qualified as part of the AUM requirement,
provided at least S$50 million investible AUM has been transferred into and held in
Singapore.
If you have more burning questions on how to apply PR in Singapore or if you wish to immediately apply PR in Singapore, book a free consultation with us today & our team of experts will get back to you as soon as possible.
Obtaining Singapore PR status allows one to enjoy Singapore citizens' many benefits and rights.
You can work and live there without restrictions as a Singapore permanent resident. You can also pursue higher education with priority admission to public schools and universities. Singapore offers a world of possibilities and career opportunities, and you can purchase properties for stability and security.
Additionally, you can travel visa-free, making it easy to explore Asia and beyond. It's no wonder Singapore is a desirable place to live.
The benefits of permanent residency status are:
Being a PR is the only path to obtaining a Singapore passport (apart from being born to a Singapore Citizen parent). One will be eligible to apply for Citizenship upon being a PR for at least two years. Unlike the Singapore PR application, preparing for a Singapore citizenship application is more rigorous, with a longer list of documents required.
Singapore PRs are entitled to Government subsidies for Public Hospitals, Polyclinics and National Centres. Medisave, Singapore's national medical savings scheme, which helps individuals set aside a part of their income to subsidize medical treatment/hospitalization bills, is only entitled to Singapore citizens and permanent residents.
PRs enjoy the right to live in Singapore and are allowed the freedom to leave and enter the country without visa restrictions or having to provide multiple travel documents to travel or work.
Although the Singapore PR status will never expire, they must ensure that their Re-Entry Permit (REP) are renewed when need to.
Your permanent resident child who is a student will be placed high on the priority list, just after the citizens in the entry for government schools (Preschool, Primary, Secondary, Junior Colleges or Polytechnics).
On the other hand, foreigners have difficulty balloting for a slot in government schools and often have to enrol on an International School, which comes with exorbitant school fees. Subsidies and tuition grants will also be granted to a Singapore PR to study in local or private institutions.
Holding a Singapore Permanent Residence status also entails better career stability. It enables one to change jobs freely without having to worry if their Singapore-based employers will be renewing their work pass or having the need to re-apply whenever they wish to change jobs. Foreign professionals risk having their work pass application rejected or delayed, making them lose the job opportunity or, worse, having to leave Singapore if a new work pass is not approved in time.
At the same time, more employment opportunities will be available to Singapore PRs. The current government policies ensure that locals and permanent residents are prioritised regarding career progression.
A PR is entitled to sponsor their legally married spouse, unmarried children under 21 (born within a legal marriage or legally adopted) and aged parents to reside longer in Singapore with the LTVP. There are no salary criteria to meet.
A work pass holder can also sponsor certain family members, but they have to meet the minimum salary requirement of earning a monthly salary of at least S$6,000 to do so. The minimum monthly salary for a work pass holder to sponsor LTVP for parents is S12,000.
In the Central Provident Fund (CPF) scheme, a Singaporean or PR employee and their employer must contribute a monthly minimum amount to the employee's pension fund. The CPF scheme helps the individual financially regarding home ownership, health care, children's education, family protection and asset growth through investments and higher interest rates. CPF contributions can also be a form of tax relief, hence, resulting in a lower taxable income per year.
Should permanent residents decide to renounce their residency or let it expire, they can withdraw their accumulated CPF funds. That is only recommended if they never plan to work in Singapore. However, if your Singapore PR status was reinstated, you must return all the withdrawn CPF monies to your CPF account.
Singapore PRs are entitled to purchase resale public housing (HDB) owned and managed by the Government. In contrast, foreigners can only purchase private properties at least double or triple the HDB price.
As a PR, it is much easier to borrow various loans, such as housing loans, should they want to buy property than foreigners. PRs also get to enjoy property tax benefits. On purchasing their first property in Singapore, PRs must pay only 5% of the Additional Buyer's Stamp Duty (ABSD) rate. In comparison, expatriates must pay 60% for any of their residential properties in Singapore.
While different factors may affect your chances of success and PR eligibility in Singapore, you can rest assured that we are fully committed to guiding you through the application requirements and procedure.
Other additional documents may aid in a better approval rate for your permanent residency applications. These can be past or present economic or social contributions you have made, recommendation letters from your employers, existing business networks in Singapore and more.
For more information on the required document and what to include in your application form, check out our article on the checklist of additional documents on how to apply for Singapore PR.
Alternatively, you may contact us today for a complimentary consultation so that we can better advise you on increasing your chances of approval for Singapore permanent residency based on your specific needs.
After submitting the required documents for your application for Singapore PR, the entire PR application process generally takes about six months. However, the outcome of an individual application status may also take longer than six months (or shorter) as each case might be different.
There are several paths to apply for PR in Singapore, each with different eligibility criteria.
Generally, you may be eligible to apply for a PR in Singapore:
Yes, a PR can stay in Singapore without a job. As a Singapore PR, you are not mandated to work to continue living in Singapore.
However, you may not get the entire 5-year REP renewal duration when the time comes for you to renew the REP. (The Singapore Government will conduct a minor reassessment of your profile and part of the renewal criteria depends on the type of scheme you have gotten your PR through.)
For instance, if you have received your Singapore PR through the Professional, Technical Personnel, and Skilled Workers (PTS) scheme, it is vital to ensure that you are working in a Singapore-registered entity and are physically residing in Singapore during your REP renewal to ensure higher chances of your renewal going through.
In the unfortunate circumstance of the main applicant passing away or divorcing the spouse or any such situation, the spouse can continue to stay in Singapore as long as their REP is valid. However, if the renewal is due, please get in touch with us while there is still time to understand your options.
Once your Singapore permanent residency application has been approved, you will receive an approval letter or otherwise known as an in-principle approval letter (IPA letter). The IPA letter consists of steps to complete your PR formalities.
To find out more, check out our article on what to do after you have been granted PR status.
If you are acquiring PR status through the PTS scheme, you are not needed to serve full-time National Service. As a first-generation Singaporean citizen, you won't be required to enlist for NS.
However, it is vital to note that under the Singapore Enlistment Act, conscription into military service is compulsory. Unless exempted, all healthy males (Singapore citizens and permanent residents) must complete two years of compulsory military service.
After completing full-time National Service, NSmen will be officially called Operationally Ready National Servicemen (NSmen).
Yes, you can.
Both you and your employer shall come to a consensus and mail the completed Form JAP/94 to the CPF Board.
The employer and employee can choose either: