There are heavy debates recently by nearly all local political parties with respect to the targeted population, as it is one of the key points which is of importance to the current citizens and permanent residents. If you are currently still a foreigner and are going for a Singapore PR application within the next few months or years, you may be worried if such discussions may affect your probability of success.
We had briefly touched on this topic before. However, we will discuss it more in depth here.
Many years ago in 2013 via the controversial Population White Paper, Singapore wanted to increase the head count in people living in it to 6.9 million, by bringing in 30,000 new permanent residents each year. Even more recently, there has been rumours of wanting to potentially increase it to 10 million. There has been allegations that is actually planned out, yet there are also people who denied that idea.
Regardless, in the latest upcoming 2020 Elections, there has been more contesting parties with credible reputations and more and this has been putting a lot of heat on the government. As a result, it is unlikely that such a matter with respect to the targeted population will be swept under the rug any longer.
The current targeted rate for new PR will be 30,000 a year. Let us take both extreme examples so that we are prepared either way it goes. We believe that either way it goes, there will be heavy scrutiny on this topic by all parties.
Example 1: There are indeed plans to increase the local head count to 10 million by 2030
If the local population keeps increasing till that number steadily over time via mainly immigrants, it will likely drive up the prices of real estate in Singapore to even higher prices, even though it is already high. This can lead to potential discontentment among the growing numbers of those who cannot afford a place of their own here – or get a loan and struggle to pay it off.
Therefore, it is likely that regardless of whatever happens in the upcoming General Elections 2020, there will be further scrutiny on this issue, and even if the target is kept at, the criteria may be raised, so as to justify the reason behind this goal to the people.
Example 2: There are no plans to do so, and it will be kept at an absolute maximum of 6.9 million or less by 2030
This means that at least between now and 2030, the process and approvals will not get any easier than it is right now. The difficulty may remain the same, or increase over time simply due to the eventual slow down in acceptance of new PR applications.
As you can tell, we strongly believe that as a nation matures, the criteria will only get tougher over time. So keep your documents in order, and have a stellar record to have the highest probability of getting approved when you do apply! Also, make sure to not do these!