With the new immigration policy, Singapore is becoming a more attractive destination for international workers. The government wants to attract more skilled workers and foreign students to the country. In order to do so, it has introduced a immigration scheme called Singapore Permanent Residency.
This scheme makes it easier for foreigners to get permanent residency in Singapore by allowing them to work in Singapore without having any need for work permits or visas.
Foreigners who are interested to apply for a Singapore PR are required to have lived in Singapore for at least 15 years and have skills that are relevant to the local economy, such as work experience or education, and who meet certain other criteria such as not being over 65 years old and not holding a criminal record.
Allowed to buy property in Singapore
The main benefit is that it gives you the right to buy property in Singapore. This means that you can buy property and pay taxes on it, effectively owning your own home to live in. However, there are a few catches. First and foremost, you need to be able to show proof of citizenship in Singapore. This can be anything from a passport or Driving License to a valid Singapore PR Card . You can apply for both on your own or with the help of an estate agent. It’s also worth noting that you can only apply for a property in the same place that you’ve lived for the last 12 months.
Contribute to a flexible pension system, CPF
The Singapore Government has announced that the CPF, a government-run pension scheme will be expanded to include permanent residents. Permanent residents can now apply for CPF, Singapore’s mandatory retirement scheme for citizens and permanent residents. The CPF is mandatory for Singapore citizens and permanent residents, while it is voluntary for non-citizens who are not forced to participate. It contributes 1% of their salary towards the retirement savings of their employees and this is paid in addition to any employer contributions.
The opportunity to contribute to their pensions as permanent residents is one of the most significant privileges that Singapore gives to its foreign CPF (Central Provident Fund) members.
With a permanent residency in Singapore, you can travel to other countries without visas
It’s not just the number of people who are leaving the country that is growing, but also the number of people who are coming in.
A permanent residency allows you to live and work in Singapore without having a visa or other travel documents. It is available for anyone who has been living and working here for at least three years with no restrictions on their employment. The main advantage of applying for permanent residency is that it does not require any additional paperwork and can be granted immediately upon your arrival in Singapore. This means you can start working immediately after you have received your Permanent Residence.
Singapore has one of the best visa-free travel policies in the world. It is also known for its friendly and safe neighborhood. It offers a great deal of freedom and friendly policy for foreigners, which means you can work without any hassle.
Eligible to apply for certain public services
One of the primary advantages of Singapore citizenship is the Singapore PR. It enables foreigners to live and work in Singapore without paying taxes. This is a major attraction for international students, who are often required to pay the local taxes when they study in the country.
We should not think of these SPRs as a replacement for international students. They are just one form of immigration that can be used to attract talent from abroad. It also provides an opportunity for expats to get around the high visa fees and taxes that they have to pay when working in Singapore.
There are several advantages of applying for a permanent residency in Singapore. It is not only suitable for those who wish to settle permanently or have family links to the country, but also ideal for those who are already settled in Singapore. Singapore is a very attractive country for those who want to live and work in Singapore. The country’s friendly environment, excellent educational system and affordable living costs have helped Singaporeans from across the globe to consider it as their second home.