Singapore Permanent Resident (SPR) – Pros & Cons

Singapore is a highly developing country in Asia where people from different cultures live. Most people in the world would envy staying in this city-state. One favorite route to long-term residence is to apply for permanent residence. But what is being an SPR? What are its advantages and disadvantages?

Now we will learn about the full details of Singapore citizen vs PR benefits.

What is a Singapore Permanent Resident (SPR)?

An SPR is a foreigner who has been granted the privilege of living and working in Singapore for the long term. Unlike citizens, a Permanent Resident does not enjoy all the rights of citizenship, such as voting in elections, but they enjoy many of the same advantages accorded to citizens, including most of the public health care, education, and other government services.

There are various schemes through which one can apply for an SPR, including the Professional, Technical Personnel, & Skilled Workers Scheme; the Investor Scheme; and the Global Investor Program. Normally, a person applies for this status to show their commitment to Singapore, usually by getting employed, investing in the economy, or through family ties.

Advantages of Being a Singapore PR

Improved job opportunities, available healthcare, and educational advantages in Singapore PR are the main benefits. Stability of property, leading to a high living standard with a secure future in one of the most dynamic cities worldwide, are considered among the main advantages of being a Singapore Permanent Resident.

Stable Residence

You can stay in Singapore for any amount of time. As an SPR, you will never face problems with your visa renewals, let alone risks of being asked to leave the country.

Employment Opportunities

The best thing is that SPRs can work in any job, and they do not need an Employment Pass to do so. You have more freedom when it comes to your career choices and industries you want to work in. You are also allowed to start your own business.

Access to Healthcare

SPRs are covered with public healthcare. Singapore has a fine healthcare system, and being an SPR means you get to enjoy the benefits that come with medical subsidies for its residents.

Education Benefits

If you have children, they can study in public schools in Singapore. Your children, being an SPR, are entitled to subsidized rates and quality education that the public schools offer.

Buying Property

The SPRs have the options of buying in some estate types. Although that is restricted in the forms of property you may buy, your status as an SPR allows for a wider scope compared to much-restricted foreigners.

Social Integration

By being an SPR, you are considered one within the community. This helps you to integrate yourself with the society and even participate in various activities and events taking place locally.

Tax Benefits

Singapore has relatively low personal income tax compared to other nations. As an SPR, you will enjoy this advantageous tax climate. You stand to save a good deal of money as compared to a country that charges a higher tax percentage.

Path to Citizenship

Being an SPR generally paves the way to Singapore citizenship. If you are eligible and apply for it, your being an SPR will be an advantage to your application.

So, if you’re planning to expand your business and live in high standard society, you may get these major benefits. Therefore, once you complete the procedure for applying PR in Singapore and ICA verifies it, you’re a citizen.

Disadvantages of Being a Singapore Permanent Resident

Of course, there are a great many benefits that come with achieving PR status in Singapore; yet, at the same time, one has to be aware of possible downsides. These include limited employment opportunities, military duties for male PRs, and possible taxation consequences. One must really weigh these cons against making a commitment to Singapore PR.

Limited Voting Rights

You do not have the right to vote in national elections as an SPR. In fact, only Singaporeans can vote in elections and therefore be represented in government. 

Compulsory National Service

If you are a male SPR, you have to go through the NS, the period during which you are required to serve in the military, police, or civil defense. This might require a serious commitment and at times might affect personal and professional life.

No Immediate Citizenship

SPR does not make you a citizen. In order to be a Singapore citizen, there are specific criteria and applications involved. This, too, is not automatic, and not all SPRs gain citizenship status.

Holding of Properties has Restrictions

While SPRs can buy property, there are certain restrictions on which all properties are available for you to purchase. You may not be allowed to buy certain types of private properties, such as landed properties.

Tax on Overseas Income

Taxes are territorial, so you pay income from Singapore. You may still be required to declare income derived outside of Singapore, but this depends on rules and regulations. 

Cost of Living

Living in Singapore is one of the most expensive cities to live in. While being an SPR comes with many privileges, high living costs in terms of housing, food, and other basic needs have to be managed accordingly.

Cultural Adjustment

Though Singapore is a cosmopolitan city, the adjustment period may be quite challenging. Cultural differences may strike you, and it is often not easy to settle with the local way of life.

Healthcare Costs

While SPRs do receive public health care, there are costs that can be associated with out-of-pocket medical treatments. As a matter of fact, healthcare costs can build up when treatments are intensive or extended.

Conclusion  

Therefore, an individual should consider all these pros and cons of being a Singapore PR resident before applying for it. Above all, advantages for one may be disadvantageous to another. If you are from a non-English speaking country, you will have to arrange for translation of PR documents in Singapore for verification purposes.

So, finally, considering your personal situation, one needs to submit the PR application of Singapore. Also, ICA requires all your Singapore PR documents to be translated.

SingaporeTranslators.com is the best option to get professional ICA translation services in Singapore.