Singapore, popularly known as the Little Red Dot, is a regional powerhouse in Southeast Asia. Although it is a small country, it has one of the strongest economies in the world, and international talent from all over the world flock to the city-state to work and live. In comparison to a year ago, the country’s economy grew by more than 3% in the third quarter. Analysts also forecast a 4.2 percent increase quarter-over-quarter and a 2.4 percent increase year-over-year.
The ultimate goal of anyone working in Singapore or running a business is to gain Singapore permanent residence, which comes with a slew of privileges, but who can apply? Foreign individuals or business owners who currently hold a work pass (Employment Pass, Personalised Employment Pass (PEP), EntrePass, or S Pass) and have worked in Singapore for the previous twelve months are eligible to apply for Singapore PR or permanent resident status under the Professionals/Technical Personnel and Skilled Workers Scheme (PTS).
There are more than half a million Singapore PR holders, according to data collected in 2016, and the number is expected to grow. Although the process can take six months to a year, many people are prepared to go through it because acquiring permanent resident status opens doors that would otherwise be closed to them.
Being a Singapore PR comes with a slew of benefits and advantages, including the ability to live, travel, and work in Singapore without having to apply for a separate visa. A Blue Card, which serves as an identity document, will be issued once the Singapore PR application has been granted. Unsure of the various procedures for Singapore PR application? Contact The Immigration People today to find out more.
The ability to change employment without having to reapply for a Singapore work permit is one of the best aspects of being a Singapore PR. Changing employment with only a work-related Singapore visa can be problematic because the old work visa must be canceled and a new one applied for, with the possibility of rejection. Why take a chance if you can avoid it?
Singapore PRs are eligible to seek full Singapore citizenship after a set number of years and begin enjoying the same privileges as native-born Singaporeans. One of the many advantages of Singapore citizenship is the ability to travel to a variety of countries without requiring a visa, as the Singapore passport is the most powerful in the world!