According to the latest HSBC survey, Singapore have been ranked the number one (1) for best places for expats to live and work in for the fourth year in a row. In a HSBC Expat Explorer survey conducted by YouGov in 2018, Singapore is considered the best out of 30 other countries.
Offering competitive salaries while providing a multi-cultural environment is considered very attractive to many. More than that, Singapore’s strong education system also provides an excellent place for families with children to reside in. With that in mind, it is no surprise that there is progressive growth in the numbers of PR applicants every year.
For those that isn’t familiar with the benefits of PR status, we have prepared a list here to help you in your considerations should you be interested in obtaining the blue pass in Singapore.
- Healthcare Subsidiary
Permanent residence enjoys subsidized healthcare at government hospitals and clinics. This includes any routine appointments for checkout or even if you are nursing a regular cough or fever. The subsided rate can often mean that the price is 30% to 50% cheaper for Singapore permanent residence than expatriates/foreigner. Multiply the savings by the amount of family member you have, and the figure does add up to become quite substantial.
- Child’s Education Cost
Likewise, for education, the cost is lower for children of PRs at government schools. This includes all government-run childcare, primary and secondary schools. When it comes to enrolment in to your preferred schools, children of PRs also stand a higher chance to get their preferred choice.
- Residing in Singapore
The different work passes and permits usually last 2 to 3 years which is much shorter than PR status. Permanent residence can stay in the country for as long as 5 years. On top of that, they can freely enter of leave the country without major restrictions.
- Eligible for Long-stay Visas for parents
Another great news for PRs is that their parents are Eligible for Long-stay Visas in Singapore. This means more family time while for you and your family while you enjoy your employment in Singapore.
- Access to Public Housing (resale)
In Singapore, Public Housing is managed by the Housing and Development Board (HDB). While there are many factors and schemes governing it, being a PRs means you are eligible to purchase resale flats in Singapore. This could mean much lower cost of living, bringing you and your family higher disposable income and savings in the long-term.
The above 5 benefits are probably the most attractive reasons to become a Singapore PR. Compared to be an expatriate, it gets more affordable and easier to live in Singapore comfortable with the PR status. Having said that, there are indeed some factors for maintaining your expat status. For most individuals, the benefits surely outweigh the disadvantages by a fair margin. If you interested to know more, feel free to consult with any of our expert consultants who are specialist with many years of experience in this subject.