Obtaining Singapore permanent residency lets you enjoy many of the benefits and rights given to Singapore citizens. There is a range of benefits of being a Singapore Permanent Resident (PR):
- The right to live in the country without visa restrictions.
- You can leave and enter the country as you wish.
- You and your family are free to live and work anywhere in Singapore.
- You can send your children to public schools (child must also be a SPR)
- You can enjoy lower subsidised charges at government outpatient clinics and public hospitals. SPRs also automatically participate in the country’s national medical savings and insurance schemes.
- You can buy landed property (conditions apply)
- You are eligible to purchase from the resale market, public housing flats developed by the Housing and Development Board (HDB).
- You are considered a local residence for tax purposes.
- You can change jobs without having to worry about re-applying for a work permit. No more work pass renewals.You do not require tax clearance when changing jobs in Singapore.
- Mandatory participation in the Central Provident Fund will be implemented. You will be entitled to withdraw CPF money if you decide to leave Singapore and give up your SPR status.
- You can voluntarily participate in the Supplementary Retirement Scheme which allows individuals to save for retirement with certain tax benefits.
- You are entitled to go for training to upgrade yourself under WDA and SDL which can be fully / partially claimed.
- Main applicants who are granted SPR status under the Professionals/Technical Personnel and Skilled Workers (PTS) Scheme or the Investor Scheme are exempted from National Service.
Best of all, you are eligible to apply for Singapore citizenship after two years of having your PR, subject to Immigrations and Checkpoints Authority of Singapore (ICA) approval. Singapore Passport holders have very few visa travel requirements around the world and can enjoy visa-free travel to destinations like the USA, UK and Europe.