What are some of the benefits of getting that PR status approved? Let us and our company share with you what they are if you still on the fence!
Keep in mind that the following benefits may not necessarily seem as benefits to every one, as every one holds different things at different priority levels to themselves. Therefore, some of the following may seem as benefits for you, while others may not seem as clear cut for you. But nonetheless, they are considered as benefits!
Firstly, you can enter, leave the country and stay in the country for as long as you want, and there is basically no restrictions. You will no longer have to acquire visas to travel or work here. If you want convenience, you will get that with this status!
Secondly, if you are residing in SG already, and want more stability for your future family life in the country, being a permanent resident allows you to also include your spouse as well as any unmarried child under the legal age of 21. Additionally, if your children are school aged, they will also be easily eligible to enter any of the local public schools if you wish them to do so.
Thirdly, if you are intending to work here, then having this status will allow you more work freedom. This is because you can easily change jobs freely without requiring to get a completely different work permit, and hope for approval once again. There is always high potential risk of delay or rejection. However, with a residency application, you can change jobs or simply start a business in our country! You get way more work freedom.
Fourthly, you will be able to make use of the Central Provident Fund (CPF) scheme. This is a form of pension fund, similar to that of many other countries. If you want to make sure of this CPF scheme to grow your retirement funds, being one will allow you to become eligible to qualify for it. This is the case regardless whether you are self employed or working at a job for someone else.
Fifthly, If you wish to buy property in the country, being one will be able to allow you a high priority to borrow various types of real estate mortgage loans. This is the case whether you are looking to buy a public government HDB flat (only a second hand one in the open market) or private condominium or landed properties. Having future easier access to property loans is also a reason why many investors use GIP Singapore scheme.
Next of all, if you have aged parents, whom you want to keep close to you and take care of, you can easily get long stay visas for them, making this much easier and keeping your life less stressful.
You have the ability and will become fully eligible for a full Singapore citizenship if you wish to do so in future. The best part about a permanent is that it offers you that flexibility, and it is still up to you if you wish to just remain a PR and keep another citizenship, which many people do, or convert into a full local citizen, which many also do so! Having this flexibility either way not only for yourself in the future, but for your future generations is a big benefit!