Applying to be a permanent resident in another country is a much more significant step than people perceive it to be. This isn’t just about living in another country; it’s also about being seen as a permanent resident. Although permanent residency grants you a lot of benefits, you still need to decide whether these benefits are enough for you to apply for PR status. If ever you change your mind, you can still choose to fill out forms that strip you of your status. However, it is better to back out before you apply to be a permanent resident in Singapore than to do it when you already have.
If you’re still unsure what to do, here is a short list of benefits you gain upon applying for PR.
1. Career Opportunities
In Singapore, you will be offered more career opportunities once you apply for permanent residency. Many employers prefer to hire those who are permanent residents in order to avoid going through the hassle of signing work pass applications. Foreign workers need to re-apply for a work permit every time they change jobs, which increases the risk of having their new work pass application denied by the government or employer. At least when you apply for a PR in Singapore, you can be free of these risks and have an easier time switching careers.
2. Houses Cost Less
Being in Singapore and having permanent resident eligibility means you are entitled to buy affordable property. This is possible because the stamp duty fee is lower compared to what a foreigner would typically pay for. You are also eligible to purchase a Housing and Development Board flat after three years of applying for PR if your income doesn’t go past a certain amount.
3. Central Provident Fund Plan
If you are a permanent resident in Singapore, you must provide a small percentage of your salary to a Central Provident Fund savings plan in accordance with workforce law. Whenever your employer gives you your salary, they also fund your CPF account in the process. The money in the account can help you maintain financial stability even after retirement. They’re considered your emergency funds, but only when you apply for PR in Singapore online.
4. Singapore Citizenship
When you apply to be a permanent resident in Singapore, you also open the door to obtaining official Singapore citizenship status. There are already benefits to permanent residency, but becoming a citizen entitles you to voting rights, improved taxes, and even better housing that aren’t government housing resales.
Are you looking for a way to apply for PR in Singapore? Visit Singapore Immigration Partners today!
