The Pros and Cons of Getting Singapore Permanent Residency (PR)

The Pros and Cons of Getting Singapore Permanent Residency (PR)

Singapore is known for its thriving economy, high standard of living, and diverse, multicultural society. As such, it’s no surprise that many foreign nationals are attracted to the idea of obtaining Permanent Residency (PR) status in the country. While becoming a Singapore PR offers a host of benefits, there are also some challenges that come with it. Let’s explore both the pros and cons of getting Singapore PR.

Pros of Getting Singapore PR

1. Stability and Security Singapore is renowned for its political stability, robust legal framework, and safety. PR holders benefit from this environment and can enjoy a peaceful life, knowing that they are living in one of the safest cities in the world.
2. Long-term Residency With PR status, you are granted the ability to reside in Singapore indefinitely. This is a major advantage compared to other types of visas that are tied to specific time periods or employment contracts. You won’t have to worry about visa renewals or potential changes in immigration laws affecting your stay.
3. Access to Healthcare Singapore has one of the best healthcare systems globally, and PR holders can enjoy access to public healthcare services at subsidized rates. Though PRs are not eligible for the highest level of subsidies available to citizens, the savings can still be significant when compared to private healthcare costs.
4. Educational Benefits PR holders enjoy eligibility for public schooling at a lower cost than international students. Moreover, they have a higher chance of gaining entry to top-tier universities in Singapore, such as the National University of Singapore (NUS) and Nanyang Technological University (NTU), where admission is generally more competitive for foreign students.
5. Work Opportunities Permanent residents are allowed to work for any employer in Singapore without requiring additional permits or approvals. They are also entitled to the same job opportunities as Singaporean citizens in many industries. Additionally, Singapore’s highly developed economy offers a wide range of career opportunities, particularly in sectors like finance, tech, healthcare, and education.
6. CPF Contributions As a PR holder, you’ll be eligible to contribute to the Central Provident Fund (CPF), Singapore’s mandatory savings scheme. While CPF contributions are deducted from your monthly salary, they provide a way to build up retirement savings, medical benefits, and housing funds.
7. Sponsorship Opportunities PR holders can sponsor their family members (spouse and children under 21) for residency, allowing families to stay together. This is an attractive option for those looking to settle down and provide better opportunities for their loved ones.
8. Pathway to Citizenship While it’s not guaranteed, becoming a PR in Singapore can be a stepping stone to eventual citizenship. After a few years of holding PR status, an individual may be eligible to apply for Singaporean citizenship, further solidifying their ties to the country.

Cons of Getting Singapore PR

1. Lengthy and Competitive Application Process One of the biggest drawbacks of obtaining Singapore PR is the highly competitive and rigorous application process. The government evaluates applicants based on various factors such as employment, education, contributions to the country, and family ties. There is no guarantee of approval, and the process can take several months, or even years, to complete.
2. Loss of Foreign Citizenship Singapore does not allow dual citizenship. Therefore, if you become a Singaporean citizen after being granted PR status, you’ll be required to renounce your original citizenship. For those with strong ties to their home country, this can be a significant challenge and emotional hurdle.
3. Mandatory National Service (NS) for Male PRs Male PR holders are required to serve in the Singapore Armed Forces (SAF) for two years, starting at the age of 18. This can be an inconvenience for some, particularly for those who do not plan to stay in Singapore long-term or are reluctant to serve in the military.
4. Limited Social Benefits While PR holders have access to public healthcare and education, they are not entitled to the full range of benefits available to Singaporean citizens. For example, PRs may not be able to apply for certain government subsidies or housing grants, and they may face higher taxes and fees compared to citizens.
5. No Voting Rights As a PR holder, you do not have the right to vote in Singapore’s general elections. This means that while you can live and work in the country long-term, you will not have a say in the country’s political landscape or policies.
6. Restrictions on Employment While PR holders have greater freedom to work compared to those on a temporary employment pass, there are still restrictions.
7. Complicated Renewal Process for Re-Entry Permit (REP) A re-entry permit (REP) is required for PR holders who wish to travel abroad and return to Singapore. While the REP is typically valid for five years, it can be revoked if the PR holder spends too much time outside of Singapore. Maintaining a long-term PR status requires regular re-entry permit renewals and staying in Singapore for a specific period.
8. Housing Restrictions While PRs are allowed to buy property in Singapore, there are limitations. For example, single PRs cannot buy a new HDB flat or a resale flat alone. A a PR may qualify to buy an HDB flat under the HDB Public Scheme, which is buying with a family unit or the Fiancé/Fiancée Scheme.

Conclusion

Obtaining Singapore Permanent Residency offers numerous advantages, including long-term residency, access to healthcare, and career opportunities. However, there are challenges, such as the competitive application process, loss of foreign citizenship, mandatory national service for male applicants, and limited benefits compared to citizens.

For those looking to settle in Singapore for the long haul, PR status can be a valuable asset, offering a pathway to citizenship and a high quality of life. However, prospective applicants should carefully weigh the pros and cons before making the decision to apply.