Updated: Jan 5
What You Should Know Before You Apply
With only 30,000 applicants accepted per year, being a Permanent Resident (PR) in Singapore can be a lengthy process, taking 4-6 months officially to process your application, but unofficially possibly even a year.
Your spouse and unmarried children below 21 years of age are allowed to apply together with you, but you will need to pay $100 per person, per application. In addition, if you are accepted, you will need to pay yet another $120 for a number of renewing documents (renewals costing $10 every 5 years).
If you have male children, they will need to enlist for the full-time 2 year National Service, and serve up to 40 days each year until they either reach their age cap, or number of service years. Fortunately, neither you nor your spouse will be required to enlist, so there’s that.
Why You Might Want To Become A PR
If you need to travel in and out of Singapore often as part of your work, having a PR passport will allow you to skip applying for a visa every time.
You can apply long-stay visas for your parents if they choose to retire in Singapore.
You have more flexibility in changing jobs, as now you won’t need to reapply for a work pass every time you switch.
Your children will have cheaper and better access to the public school system, which is rated quite highly in the world.
You will be eligible to partake in the Central Provident Fund (CPF) system, which allows you to accumulate your own pension, along with a bonus from your employer.
You will also gain better access to loans, including those that help to finance you buying certain properties that are not accessible to foreigners.
Finally, you might also be able to convert to a Singapore Citizen after a few years, which gives even more perks.
However, you do NOT need to apply for PR status if you just want to register a company in Singapore.
How Do You Maximize Your Chances Of Becoming One
You can apply to become a PR through 3 general means:
Singapore Investor Visa
Professionals / Technical Personnel and Skilled Worker Scheme (PTS)
The fundamental idea though, is that you need to be beneficial to Singapore. The more you contribute, the more likely you will be accepted.
Here are 5 things you can work on to maximize your chances:
Presence - The longer you stay in Singapore, the more reasonable that you will continue to stay. The minimum period of stay is 6 months, but it is recommended that you stay at least a full year before your first application.
Income - The higher your salary, the more you can contribute to the local economy. Generally, it would be preferable if you earn around S$6,000 ~ S$8,000, or up to S$12,000 if your application includes your family members.
Background - The better and more prestigious your employment and education history, the more likely you will be highly productive.
Employment - Older and financially stable companies are more likely to swing the choice in your favour.
Personal Characteristics - Do not have any law infringements, and volunteer and donate to charitable causes, and make sure they are tracked.
If you get rejected, not to worry. You can pay the application fee and reapply. However, it is recommended that you wait at least 6 months.
In those 6 months, you can work at improving these 5 things, which should increase the likelihood that you will be accepted the next time round.
With that, we bid you all the best in your application!