Singapore is the shining example of how a 21st-century city should look like. It is the most liveable city in Asia and the 25th highest quality of living globally, according to the consulting firm Mercer’s 2018 Quality of Living survey; the most business-friendly city in the world according to the World Bank; it is ranked 2nd out of 144 countries for its success of info comms technologies adoption by the World Economic Forum.
There are many accolades that Singapore has earned throughout its 54 years of nationhood. It is no wonder why aspiring people around the world are flocking to this island-state for business, residency and citizenship.
There are many benefits and rights accorded to citizens that PRs can enjoy too, ranging from the right to live and work in Singapore without visa restrictions, enjoy higher enrolment priority and educational grants in public schools (for children), affordable world-class healthcare, one of the world’s lowest taxes, invest in businesses at investor-friendly terms, purchasing property more freely, the benefits of a national savings scheme (Central Provident Fund, or CPF) that will provide for your retirement plans and other uses etc. and the list goes on.
In return, there are some requirements that come with permanent residence. CPF is compulsory for all citizens and PRs. It is a national savings scheme to prepare and provide for one’s retirement, and each individual’s CPF account is funded by a portion of one’s salary and his/her employer’s contribution. Sons born to PRs, whether overseas or locally, will be required to join the military conscription, called National Service, upon reaching 18 years of age.
Different Strokes For Different Folks
While many people register to become permanent residents every year, applicants do not all go through the same application process. The application for Permanent Residence (PR) can be done for the whole family, which includes applicant, the spouse and under-21 unmarried children. The appeal of Singapore permanent residence via various schemes has attracted throngs of non-Singaporeans from all kinds of backgrounds to come here and set up a home away from home.
As of June 2017, there are an estimated 526,600 PRs in Singapore as of June 2017, making up roughly 10% of the entire population, and the number is rising. Although most foreigners apply for PR after working in Singapore for a few years, there are other paths leading you to a Singapore PR status. There are different kinds of schemes available, through which you can apply for a Singapore PR, for you to consider which is the one most suitable for your current circumstances and needs.
PR Scheme For People Working in Singapore
The PTS scheme, shorthand for Professionals/Technical Personnel & Skilled Worker scheme, is designed for non-Singaporean professionals already working in Singapore at the time of their PR application. This scheme is currently the most straightforward route to becoming a PR in Singapore, albeit your application is still subjected to the stringent considerations of the authorities.
The key requirement is that applicants must be a working professional in Singapore when applying for PR, i.e. you must first move to Singapore on an Employment Pass or Entrepreneur Pass, as S Pass or a Personalised Employment Pass.
In addition, you must be able to provide payslips dating back at least 6 months from the time of application to show that you have been working in Singapore for the past 6 months.
PR Scheme for Investors
Foreign investors can also apply for permanent residency status in Singapore via the Global Investor Programme, or GIP scheme. You can apply PR for yourself and your immediate family members by either starting a business, investing in an existing business or invest in a GIP fund investing in a Singapore-based company, with a minimum investment sum of SGD$2.5 million.
On top of meeting the minimum investment fund amount, applicants must also meet other criteria like having a reputable business track record, a history of entrepreneurship and a sound business or investment plan.
PR Scheme For Foreign Artists
Singapore, in recent years, has placed much emphasis on developing the arts scene. From setting up art schools and allowing licensing for street buskers to investing in multi-million theatres and arts festivals. The arts scene here has seen exponential growth and Singapore welcomes foreign artists to make this island their home. If you are talented in the arts, be it in photography, film, music, dance, literature or theatre, you can apply for PR through the Foreign Artistic Talent scheme.
To qualify, you must first be an already recognised artist in your country of origin, best with international reputation and accolades, and have relevant training and qualifications in your area of arts. In addition, you must also have contributed significantly to Singapore’s arts and cultural scenes; this includes having a good track record of engagements locally with a leadership portfolio and having credible plans for involvement in the local arts and cultural sector.
The Singapore Government welcomes people of every background who have made, can make and will continue to make a positive impact in Singapore, contributing to the national socio-economical make-up. The various schemes to attaining permanent residence in Singapore will allow you to be able to better secure it for yourself and your loved ones, and the criteria make it clear that you must first be someone the government can trust, and someone who is willing and able to contribute to the growth of Singapore, your potential new home.