The Benefits of Becoming a Permanent Resident in Singapore

Singapore, renowned for being one of the best places to live and start a business, is a small and vibrant nation with a population of 5.64 million (as of 2022). Its delightful street food culture, lively city atmosphere, and unwavering commitment to security make it an attractive destination for those aspiring to become a permanent resident in Singapore. 

While it’s true that securing a PR application has become more challenging compared to a decade ago, don’t worry! We’re here to share some helpful tips and schemes that can bring you one step closer to achieving your goal of becoming a PR in our wonderful nation! 

Types of Permanent Resident Schemes in Singapore 

When it comes to permanent residency in Singapore, there are several types of schemes available, each catering to different categories of individuals. These schemes not only provide opportunities for foreign nationals to establish their presence in Singapore but also contribute to the country’s economic growth and diversity. 

PR Scheme For Foreign Investors 

One of the most sought-after schemes is the Global Investor Program (GIP). This program specifically targets experienced entrepreneurs and investors who are willing to make a substantial financial investment in Singapore. By participating in the GIP, you can enjoy a fast-track pathway to permanent residency, allowing you to establish your business and contribute to Singapore’s thriving economy in a relatively short period of time. 

Under the GIP, you are required to invest a significant amount of money in Singapore-based businesses or funds. This investment not only demonstrates your commitment to the country but also serves as a catalyst for economic growth. By doing so, Singapore can benefit from your expertise, capital, and networks, which in turn creates job opportunities and stimulates innovation. 

PR Scheme For Working Professionals in Singapore 

The Professional, Technical Personnel, and Skilled Worker plan (PTS Scheme) is also another popular way to obtain permanent residency in Singapore. With the help of this program, foreign workers in Singapore with an Employment Pass (EP), Entrepreneur Pass (EntrePass), Skilled Worker Pass, or S Pass can apply for permanent residency. 

Under the PTS program, an applicant’s spouse and minor children are also eligible to apply for Singapore permanent residence (PR). When requesting Singapore permanent resident (PR), applicants should take the following into account: 

1. Age, preferably under 50 years of age 
2. Current occupation and previous employment 
3. The credentials of the present employer 
4. Education backgrounds and certifications 
5. Pay and financial history 
6. Family ties in Singapore 
7. Personal pursuits and interests 

PR Scheme for Foreign Artistic Talents 

The Foreign Artistic Talent Scheme (For Arts) was created in 1991 to allow great foreign artists to become Singapore permanent residents (PR) in honour of their relevance and contributions to the world’s cultures. The scheme aims to empower devoted and talented individuals to play a significant role in improving Singapore’s arts and cultural landscape through increased involvement with local communities and contributions to the diversity of expertise. 

To qualify for the For Arts Scheme, you must meet the following criteria: 

• Possess the requisite education and training in their respective fields of practice. 
• Demonstrate remarkable achievements and relevant professional experience in areas such as performing arts, visual arts, literary arts, design, and media. 
• Have made significant contributions to Singapore’s arts and culture sector, showcasing a track record of involvement at senior levels in local initiatives. 
• Present concrete plans for continued involvement in Singapore’s arts and culture scene in the future. 

To secure your application, you would need to show that you have strong moral character and can serve as a role model among your peers. You should also demonstrate the ability to make a big impact on regional arts and culture, all while being truly committed to the cause. 

Advantages of Being a Permanent Resident in Singapore for Business Owners 

Becoming a permanent resident in Singapore as a business owner opens up a wealth of opportunities. One of the key advantages is the ease of doing business. Singapore has consistently been ranked as one of the most business-friendly countries in the world, with a transparent legal framework, efficient bureaucracy, and robust intellectual property protection. 

Individuals with a work pass holder like an EntrePass can easily apply for PR in Singapore, having run their businesses for at least six months. A PR allows foreign investors to stay in Singapore much longer because of a five-year valid Singapore permanent resident visa.

Some other benefits and rights accrue to being a Singapore permanent resident. Such as: 

• You can live, work, and travel to and from Singapore without a visa restriction if you have PR status. 
• You can become a citizen of Singapore using a PR. You must have been a PR at that time, and you had already lived here for a while before you could apply to become a citizen. 
• The PR application allows you to apply for your unmarried children under the age of 21 and your spouse. If your kids attend school, you may receive more benefits because the PR offers them the highest priority of attending public schools you get to choose. 
• If you wish to incorporate a company in Singapore, you will be eligible to receive government grants and incentives. 
• PR will give you the right to apply for long-stay visas for your beloved parents. They will not need to undergo lengthy immigration procedures when visiting you. 

Am I Qualified to be a Permanent Resident in Singapore? 

Determining whether you qualify for permanent residency in Singapore as a business owner is crucial before embarking on the application process. The eligibility criteria depend on the specific permanent resident scheme you are applying for. However, we will be breaking down how the Immigration and Customs Agency (ICA) adopts a Points System to assess PR eligibility. Applicants will be graded points based on the following factors: 

1. Type of work pass (whether you hold an EP, PEP, S-Pass or EntrePass) 
2. Duration of stay in Singapore 
3. Marital status 
4. Academic qualification (a reputable institute is preferred) 
5. Basic monthly salary 
6. Age (preferably 50 years and below) 
7. Kinship ties in Singapore (having family members from Singapore) 
8. Other factors, such as criminal records, and contributions to charity organisations are also considered, although they are not part of the point system criteria. 

Documents Required 

Having all the documents in order is crucial when applying for a PR and will ensure that the whole process will progress smoothly. It also provides that you don’t get disqualified for any reason. The following are the documents you will need for your application for a PR: 

1. Legal Travel Documents: You must hold an entry permit issued by the government. This document is necessary to enter Singapore legally. 
2. Employment Paperwork: To ensure you are eligible for an S pass or Employment Pass, you must present a copy of your work contract. 
3. Higher Education Certificates: You must also submit your academic qualifications to apply for a PR. 
4. Your Profile and Identification: To apply for a PR, you must also present identification that includes your passport, birth certificate, or driver’s license. You will also need to provide photocopies of these documents. 
5. Passport-sized photograph: This must be digital and coloured, with the photo taken against a white background. 

Depending on what conditions you were applying for PR, these might slightly differ from person to person. You can find more information regarding the document list on the Immigration & Checkpoints Authority (ICA). 

Process 

You must submit your PR applications through the e-Service. Applicants have the option to key in their details online, or they can download the forms and fill them out manually before online submissions. 

Those eligible to apply online using a Singpass account are: 

• Singaporeans applying for their spouses or unmarried children below the age of 21 
• Singapore citizens applying a PR for their aged parents. 
• A holder of an S Pass or employment pass applying for themselves, their spouses, or children below 21 years and unmarried. 
• Students are required to use their Foreign Identification Number (FIN) to apply online. On the other hand, foreign investors can apply through the Economic Development Board. 

Fees 

In Singapore, you will need S$100 to process your PR application. And, this fee is non-refundable, and you can make your payments through the following: 

• Internet Banking (DBS/POSB, OCBC, UOB, and Standard Chartered Bank Internet Banking accounts in Singapore) 
• Credit Cards (AMEX, Visa, or Mastercard) 
• Paynow 

The payment method you choose will depend on your preferences. 

Approval 

After processing your application and paying the requisite fee, you can expect your Singapore permanent resident (PR) approval and fill out the formalities later. So, for each applicant, the following fees apply: 

• Entry Permit costs S$20; 
• A 5-year permit costs S$50. 
• Identity Card S$50 for Re-Entry Permit 
• S$30 for Entry Visa (foreigners visa) 

 

Time Taken to Process Singapore Permanent Resident (PR) Approval 

After you pay the necessary fees, the Immigration & Checkpoints Authority (ICA) will handle your approval process. Typically, the processing period in Singapore lasts about six months on average. Nevertheless, this timeline may fluctuate based on your eligibility, situation, and various other elements.

In some cases, certain individuals may experience extended processing times for their PR applications. ICA will communicate the results to you via email or postal mail. You can also monitor the status of your Singapore permanent resident (PR) application through MyICA or the e-Service. There’s no need to contact ICA while your application is in progress. 

 

Conclusion 

In conclusion, the process of obtaining permanent residency in Singapore has become more challenging in recent times, in contrast to a decade ago. This shift is primarily due to government efforts aimed at addressing issues like overpopulation and managing the growth of the foreign workforce while ensuring the comfort and security of Singaporean citizens. 

However, if you have made substantial contributions to Singapore and have established a long-standing connection with the country through years of study or work, the odds of securing permanent residency are more in your favour. In fact, obtaining a work pass can serve as your initial step towards achieving this goal. 

If you’re interested in exploring your options further, don’t hesitate to reach out to us. We’re here to assist you on your journey towards securing permanent residency in Singapore!