Singapore Permanent Residence

Foreign professionals who wish to reside in Singapore permanently can do so by applying for Singapore permanent residence, under any of the Singapore permanent residence schemes.

Singapore authorities have designed various PR schemes such as:

• PR scheme for working professionals;
• PR scheme for investors;
• PR scheme for foreign artistic talent; and
• Landed PR scheme.

The PR scheme for working professionals is by far the most popular permanent residency scheme among foreign professionals, followed by the Investor scheme.

Did you know? As of September 2011, there were 532,000 PRs in Singapore from a population of 5.18 million people.

• Most foreign professionals become Singapore permanent residents under the Professionals/Technical Personnel & Skilled Worker scheme, more commonly known as the PTS scheme.
• Foreign professionals who are residing and working in Singapore on an Employment Pass or EntrePass are eligible to apply for Singapore Permanent Residence under the PTS scheme, provided they are under 50 years of age.
• Although, foreign working professionals are eligible to apply for permanent resident status after 6 months of employment in Singapore, it is recommended that they wait for 1-2 years before applying for PR status under the PTS scheme.
• Factors such as good educational background, good employment background, job stability, good employer credentials, good salary and financial-well being, duration of physical presence in Singapore, etc. play an important role in the PR application approval process.

It is estimated that more than 90% of the people obtain their Singapore Permanent Residence through the PTS Scheme.

• For foreign professionals working in Singapore: If you are applying for PR status under the PTS scheme (Professionals/Technical Personnel & Skilled Worker scheme) that is meant for foreign working professionals in Singapore, you may expect your PR application to be processed within 3 - 6 months.
• For foreign capital investors: If you are applying for PR status under the  Global Investor Program (GIP) Scheme that is meant for million dollar investors , you can expect the PR application to be processed within 3 - 6 months.

There are several benefits of obtaining Singapore Permanent Residence and include the following:

• Travel: Once you have obtained Singapore PR status you are free to travel in and out of Singapore without any form of visa restrictions.
• Employment: As a Singapore PR, you stand to gain in the job market as most employers prefer to hire citizens or Permanent Residents since it  involves less paperwork or formalities. Furthermore, as a Singapore PR you are free to switch jobs at any time, as the PR status is not tied to a specific employer unlike the Employment Pass. As a PR, you needn't worry about cancellation and approval of your work pass. As a Singapore permanent resident you are entitled to receive monthly mandatory provident fund contributions from your employer. What's more, your employer's contribution is non-taxable, while your contribution (employees also have to make monthly contributions in addition to employers) qualifies for tax relief.
• Property: If you wish to buy resale HDB flats (public housing) from the resale market you can do so, subject to certain criteria. You will also find it easier to avail of housing loans from various banks in Singapore, as compared to foreigners
• Healthcare: As a Singapore PR you are eligible for hospitalization subsidy, albeit at a lower rate than Singapore citizens.
• Education: Singapore permanent residents are given priority in school admissions as compared to foreign students. Furthermore, school and university fees are slightly lower for Permanent Residents, as compared to foreign students.
• PR Status for spouse and children: Once you are a Singapore PR, it becomes easy to apply for PR status for your spouse and unmarried children under the age of 21. You may also bring in your parents on a Long Term Social Visit Pass.

There are only two major drawbacks of acquiring Singapore Permanent Residence status:

• National service for second generation male PRs: Your son (assuming that he is a Singapore PR) will have to perform two years of National Service, as soon as he reaches 18 years of age. Thereafter, he will have to serve 40 days of Operationally Ready National Service every year until the age of 50 (for officers) or 40 years (for non-officers).
• Non-eligibility for purchase of new flats directly from the HDB: Singapore PRs are not eligible to buy new HDB flats (subsidized public housing) directly from the Housing Development Board. PRs can only buy HDB flats from the resale market. The price of such flats is usually much higher in the resale market as compared to purchasing it directly from the HDB.

No. Singapore Permanent residents, Singapore Citizens and foreigners who have stayed or worked in Singapore for 183 days or more in a tax year are all subject to the same progressive personal income tax rates that range from 0% to 20% for income above S$320,000, as indicated below: