Singapore Permanent Residence (PR) Benefits
From exciting new job opportunities to healthcare benefits and more, there are several advantages to being a permanent resident in Singapore. Over the past few decades, Singapore has become a prosperous and attractive destination for many expats from around the world.
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The Lion City offers a high quality of life and a safe and stable environment for expat families. If there is one way to ensure that you enjoy all the benefits that the country has to offer as an expat, it is to become a Permanent Resident.
Wondering what a Singapore Permanent Resident (PR) is? We’ve got you covered. In this Pacific Prime guide, we’ve compiled all the information you need to know about Singapore PR and its benefits.
What Are The Benefits Of A Singapore PR?
There are many benefits to being a Singapore PR, such as educational benefits, eligibility for CPF contributions, and more. If you’re an expat living in Singapore and curious about the country’s PR program, you’ve come to the right place.
If you are an expat family, you may be able to reap great benefits from having PR status in Singapore. So, without further ado, let’s explore the world of Singapore PR.
What Is Singapore PR?
A Singapore PR refers to a foreigner who has been granted permanent residency status, which allows them to live in the country permanently. Those who are 15 years old and above are issued a blue Singapore Identity Card (IC).
Note that if you plan to leave Singapore for travel, you will need a valid re-entry permit to return to the country.
Who is eligible to apply for permanent residence?
- Singapore citizen or PR applying for your spouse or unmarried child who is younger than 21 years old
- Singaporean citizen applying for PR for your elderly/elderly parent
- Employment Pass or S Pass holder applying for him/herself and spouse or unmarried child who is younger than 21 years old
- Foreigners investing in Singapore
- Foreign students studying in Singapore
What Are The Advantages Of A Singapore PR?
1. Job Opportunities
Being a PR holder in Singapore opens a lot of doors for you in terms of career and job opportunities compared to other foreigners with work permits. Employers in Singapore prefer to hire people with PR for many reasons such as:
- People with PR are seen as more serious and committed to Singapore
- PR holders are less likely to leave the country
- PR holders can work in Singapore without applying for a work permit
In addition, a Singapore PR allows people to change jobs more easily as they can avoid the process of applying for a new work permit every time they change jobs. This also gives them a chance to explore different jobs without having to worry about the administrative process.
2. Public Housing
Another great advantage of being a PR in Singapore is that you can buy public housing from the Housing and Development Board (HDB). This is a really big advantage as public housing is more affordable compared to private housing.
Public housing in Singapore is located in well-developed estates and offers great amenities. Not only can PRs buy HDB flats, they can also rent them. The rent is more economical and great for families.
3. Healthcare Benefits
Singapore PR also gives you access to Singapore’s world-class healthcare system. A PR gives you access to subsidized medical care at public hospitals and clinics. You can also gain access to a national insurance scheme, MediShield Life, which provides coverage for your basic medical needs.
This benefit can be very useful, especially for families with young children or elderly parents who may require regular medical care. The healthcare system in Singapore is renowned for its quality, and with a PR you will receive only the best healthcare services.
4. Education Benefits
PRs can enroll their children in Singapore’s public schools. Singapore’s education system offers excellent standards and as a PR, you can make the most of it. It is also important to note that PRs pay lower tuition fees compared to foreigners.
Singapore’s educational institutions are known for their rigorous standards and emphasis on academic achievement. This can be a great advantage for young people who want to achieve high standards in their academic careers.
5. Mobility
A Singapore PR allows you to travel freely and you don’t have to worry about visas or work permits. This offers greater flexibility and mobility, especially if you have to travel a lot for work or personal reasons.
In addition, PRs can also apply for a Long Stay Visa Pass for their parents, making it easier for them to visit and stay in Singapore for longer periods of time. This can be a great advantage for families who want to stay close to their elderly parents.
6. Eligibility For Citizenship
Holding a PR brings you one step closer to being a Singaporean citizen. Citizenship offers more benefits and opportunities compared to PR. You can apply for citizenship after living in the country for a long period of time (two years – five years).
Citizenship offers more job opportunities, the right to vote, run for political office, and access to government assistance programs. In addition, citizenship also offers stability and security as you can live and work in the country without having to worry about any visa or work permit.
Frequently Asked Questions
What are the benefits of a Singapore PR?
Being a Singapore PR can give you access to better job opportunities, the country’s world-class healthcare system, renowned educational institutions, and more. As a PR, you can also travel more freely without having to worry about visas or work permits.
Can a PR become a Singapore Citizen?
A Singapore PR who is older than 21 years with at least two years of PR status can apply for Singapore citizenship. Note that you can apply for Singapore citizenship online by submitting an e-application to the ICA via the e-SC for consideration.
Conclusion
All in all, a Singapore PR gives you greater opportunities in terms of jobs, education, lifestyle, and more. So, it’s a good idea to see if you are eligible to apply for a Singapore PR and apply for it.
If you are an expat planning to move to Singapore, we advise you to take a look at the healthcare system in the country and secure a suitable health insurance plan that meets all of your requirements.
If you don’t know where to start, you can always reach out to the insurance experts at Pacific Prime Singapore. Our experts have helped thousands of individuals and families across the globe secure the right insurance plans.
Get in touch today for an unbiased quote!
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What are the best strategies for expats to find suitable housing in Singapore, and what should they know about the local rental market?
Expats in Singapore can find suitable housing by engaging local property agents, exploring trusted rental platforms like PropertyGuru, and joining expat community groups for recommendations. The local rental market is competitive, with key considerations including high rental prices, a requirement for substantial security deposits, and the option of HDB flats or private apartments depending on budget and location preferences. It’s also important to understand lease terms and negotiate for favorable conditions such as furnishings and maintenance responsibilities.
For added peace of mind during your relocation, secure health insurance to complement Singapore’s excellent healthcare system. Contact Pacific Prime for expert guidance on tailored insurance solutions!
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