Singapore Land Tower
50 Raffles Place Level 30
Benefits of Singapore Permanent Resident
Singapore Permanent Resident’s child will be given priority compared to foreign students when seeking an education in Singapore. As long as the child is of eligible age, you can apply for the child to study in the school of your choice. Re-entry permit for Singapore Permanent Resident is required as one of the compulsory documents to register admission for the school.
Singapore Permanent Residents will be entitled to tax reliefs and rebates similar to Singapore Citizens which are given as a recognition for individuals’ efforts. Instead of compensating taxpayers for certain type of expenses fully, reliefs and rebates are given to promote certain social objectives. Hence there are reliefs available to encourage family formation, filial piety and upgrading of skills and reliefs given in support of individuals saving for retirement and serving National Service.
Singapore Permanent Residents can apply and given higher priority to secure various loans at more attractive interest rates and higher loan amount. They will also be eligible to apply for housing loans to purchase property.
Singapore Permanent Residents can startup or register a company using their own name without the need for a local Singapore Citizen representative or partner. There are also lesser regulations imposed on the company incorporation for Singapore Citizens / Singapore Permanent Residents when compared to non Singapore Permanent Residents foreigners.
Singapore Permanent Residents are eligible to buy resale (second-hand) units of government housing like Housing & Development Board (HDB) flats and Executive Condominiums (EC). Only Singapore Citizens are eligible to purchase new units mentioned above. They will also be entitled to some Central Provident Fund (CPF) or HDB grants which are provided by Singapore government.
Singapore Permanent Residents can enter or exit Singapore freely as long as they are holding a valid Re-Entry Permit (REP). However, they must comply with the Singapore immigration authority regarding REP if they wish or need to leave Singapore(irregardless of any length of time or any reasons). The REP has to be renewed every 5 years and it will be subjected to how long the Singapore Permanent Resident stayed in Singapore physically and any relevant economic or social activities done in Singapore during this period.
*** Reminder ***
If a Singapore Permanent Resident leaves Singapore without a valid REP, or if a Singapore Permanent Resident is outside Singapore when his/her REP expires, that individual’s PR status automatically will be revoked.
Singapore Permanent Residents will have the opportunity to apply for Singapore Citizenship after being a Singapore Permanent Resident for two years, should they wish to settle down in Singapore for life.
One of the major benefits of Singapore Permanent Resident status is that the person have the ability to sponsor their family (spouse and children) to apply for Singapore Permanent Resident status too, even though the wife and children are not studying or working in Singapore.
Singapore Permanent Residents have more power to bring their family closer to them, including enabling them to reside in Singapore together. The methods include either by sponsorship or via applying Long Term Visit Pass (LTVP) for them.
Singapore Permanent Residents will have the flexibility to seek better job opportunity without the hassle of applying for any relevant work pass with the company or Ministry of Manpower (MOM). Salary and staff benefits will also be more attractive for Singapore Permanent Residents compared to non Singapore Permanent Resident foreigners. Singapore Permanent Residents can also stay in Singapore for an indefinite amount of time as long as their PR status is valid.
Singapore Permanent Residents will be entitled to additional CPF contributions by the employer/company when they work in Singapore. Their age will determine the amount of percentage for the CPF contributions to be made by their employer/company. CPF funds will enjoy interest growth and be allocated into relevant accounts (Ordinary Account, Special Account, MediSave Account and Retirement Account) accordingly to help with the individual’s or individual’s family healthcare, home ownership, family protection, asset management and retirement plans.
Singapore Permanent Residents will enjoy public health benefits through the usage of CPF funds in their MediSave account. They will also enjoy a lower consultation fee and medical bills compared to non Singapore Permanent Residents foreigners.