Singapore’s Permanent Residency (PR) status offers a multitude of compelling reasons for individuals to consider applying. Over the decades, it has convinced countless foreigners worldwide to set up home in the vibrant and bustling city-state.
As of 2022, Singapore has 519,500 permanent residents against a total population of 5.6 million, an increase of 6.3% year-on-year. While the majority of foreigners apply to become a PR after a few years of working, there are also other methods to do so that may be faster.
This coveted status allows PR holders to enjoy social integration into Singaporean culture, increased stability, enhanced job opportunities, and the chance to build a secure future by potentially progressing towards Singaporean citizenship.
With its stable economy, vibrant multicultural society, and strong governance, Singapore remains an attractive destination for those seeking long-term growth, security, and prosperity.
In this blog, we delve into the various types of Singapore PR schemes available for foreigners to apply.
Why Become a Singapore Permanent Resident?
Foreigners who successfully obtain permanent residency can expect a range of benefits. It is an attractive choice for individuals looking to establish long-term roots in the country. Here are some compelling reasons to consider becoming a Singapore PR:
Abundant Job Opportunities
Being a Singapore PR opens up a wider range of job opportunities. You can change jobs without worrying about your immigration status, giving you the flexibility to explore new career paths and pursue professional growth.
Family Benefits
Singapore PR status provides benefits for your family as well. Your spouse and unmarried children under the age of 21 can also enjoy the advantages of being a PR, including access to education, infrastructure, and other social amenities.
For example, Singapore is renowned for its world-class healthcare system. As a PR, you have easy access to high-quality medical services and facilities, ensuring peace of mind for you and your family.
Stable Environment
Singapore is known for its political stability, strong governance, and low crime rates. By becoming a PR, you can benefit from the security and stability offered by the country, providing a safe environment for you and your loved ones.
Pathway to Citizenship
Becoming a Singapore PR is a significant step towards obtaining citizenship in the future. It offers a pathway for individuals who wish to make Singapore their permanent home and enjoy the privileges and rights that come with citizenship.
Related Read: 6 Benefits of Becoming a Singapore Permanent Resident (PR)
The Global Investor Programme (GIP)
Singapore’s Global Investor Programme (GIP) is an initiative that offers eligible global investors the opportunity to obtain Singapore Permanent Resident (PR) status by making significant investments in the country.
The GIP aims to attract experienced entrepreneurs, business owners, and managers who can contribute to Singapore’s economy and drive business growth.
Eligibility Conditions of the GIP
To qualify for the GIP, foreign investors must meet certain criteria, such as investing a minimum of S$10 million in Singapore-based assets or starting a new business entity, or expanding an existing one with a substantial investment.
Additionally, there are requirements related to the investor’s track record, business experience, and the potential economic benefits they can bring to Singapore.
Benefits of the GIP
The GIP offers several benefits to investors, including the opportunity to establish a permanent residence in Singapore, which provides them with access to the country’s stable economy, world-class infrastructure, and excellent quality of life.
Singapore’s PR status also grants investors greater mobility and flexibility for travel and business opportunities within the region.
The Global Investor Programme is administered by the Economic Development Board (EDB) of Singapore. It plays a crucial role in attracting foreign investment and fostering entrepreneurship in the country.
By encouraging global investors to choose Singapore as their investment destination, the GIP contributes to Singapore’s reputation as a thriving business hub and helps drive its economic growth.
Related Read: Building a Legacy: How to Set Up a Family Office in Singapore
Professionals/Technical Personnel & Skilled Worker (PTS) Scheme
The PTS scheme is designed to enable Employment Pass (EP) and S Pass holders to obtain permanent residency in Singapore.
Under this scheme, the Permanent Residency (PR) status extends to the spouse and children of the applicant under 21 years of age. It’s important to note that male dependents who obtain PR status may be liable for fulfilling their obligations under Singapore National Service.
Applicants must state their details in their application, including:
- Employer’s information
- Salary
- Occupation/industry
Related Read: Employment Pass (EP) Application: The New Shortage Occupation List (SOL)
Foreign Artistic Talent Scheme (ForArts)
Introduced in 1991, this scheme allows exceptional global art professionals to become Singapore PRs. It strives to support dedicated and talented individuals to take on a key role in boosting Singapore’s arts and cultural landscape.
The ForArts scheme is jointly disbursed by the National Arts Council (NAC) and the Singapore Immigration & Checkpoints Authority (ICA).
Eligibility Conditions of ForArts
Applicants must meet these criteria in order to be considered:
- Relevant Training/Education: Candidates must possess relevant training or education in their specific field of practice, demonstrating their commitment to honing their skills and staying up-to-date with industry trends and practices
- Professional Experience: Have relevant professional experience in fields such as Performing Arts, Visual Arts, Literary Arts, Design, or Media
- Contributions to Singapore’s Arts and Cultural Scene: A strong track record of local engagements at a leadership level is highly valued. Examples include working with reputable organisations, participating in community initiatives, or leading impactful projects
- Concrete Future Plans: Demonstrating your commitment to the arts and cultural sector in Singapore is crucial, whether it is through collaborations, mentorship programs, community outreach, or other initiatives
- Good Character: Applicants must also show that they possess good character and can be a positive role model for their peers
InCorp is Here to Help You Become a Singapore PR
The various pathways to permanent residency may seem daunting and confusing to you. InCorp has a dedicated team of expert specialists who can offer you sound advice to ensure that you set up roots in Singapore successfully.
Discover what we can do for you when you contact us today!
FAQs About Singapore Permanent Resident Schemes
- You can become a Singapore PR through different means, including:
The PTS scheme
The GIP
The ForArts scheme
Contact InCorp to find out the best route for you to take!
- While the PR does not expire, PR holders must renew their re-entry permits before they expire to ensure that it remains valid.
- Over the years, it has become increasingly difficult to obtain permanent residency. Hence, it makes sense to enlist the help of experienced PR specialists such as InCorp to become a PR.
Become a Singpore PR With InCorp
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