There are many things to consider about being a Permanent Resident in Singapore. There are real benefits such as larger savings in the form of CPF contributions, and subsidies for education and healthcare. There are also financial implications as mentioned in this KPMG report.
You should not be swayed by purely monetary or financial considerations. You should consider becoming a PR as the first step towards a long-term relationship with Singapore.
Application Process
To be eligible for Singapore Permanent Residency, you must satisfy one of the following criteria:
- Family – Spouse/Child of a Singapore Citizen (SC) or Permanent Resident (PR)
Family – Aged Parent of a SC
- P, Q or S Work Pass Holders – may apply under the Professionals/Technical Personnel and Skilled Workers Scheme
- Global Investor Programme (GIP), under which international investors with substantial capital and excellent entrepreneurial track records may apply for PR status
- In-Principle PR Application – For international talents who reside outside Singapore, if you are interested in living, studying or working here, you may apply for approval (in-principle) through SMC Management Consultants
You can find out more information on the above and the documents required from the Immigration and Checkpoints Authority.