Singapore accepts many new PRs each year. Yet, it does not mean that the country blindly accepts everyone. If you are keen to apply for Singapore PR, you will likely be applying through the PTS scheme. As such, it is useful to understand your eligibility and answer how to apply for Singapore PR under your current circumstance.
Professionals, Technical Personnel and Skilled Workers (PTS)
One of the most prominent scheme for PR application is the PTS scheme. To qualify under this scheme, you would require to satisfy the following criteria:
- Holding onto one of the following work passes (Employment Pass, Personalised Employment Pass, S Pass or Entrepreneur Pass).
- Be able to provide at the very least 6 months of payslips as a minimum criterion, every one of which were earned in Singapore.
- Spouse, Children & Aged Parents
An alternate scheme to the PTS scheme is that for spouses, children and aged parents. To qualify under this scheme, you need to fit under one of the following requirements:
- A spouse of a Singaporean citizen or Singaporean PR.
- A single child of a Singaporean citizen or Singaporean PR who is below 21 years of age.
- Be an aged parent of a Singaporean citizen.
The challenge of getting approved as a PR
The matter of low approval rates for Singapore PR applications is commonly discussed amongst the expat society. This is because of the strict standards along with the overwhelming annual demand for PR status. If you plan to apply Singapore PR, then you should recognize the following themes that your case will be evaluated on:
- Formal academic qualifications
- Employment record as well as occupation upskilling
- Financial records
- Community involvement including that of community voluntarism
- Existing family ties in Singapore
Given this difficulty, is it actually worth it to apply for Singapore PR? The answer is an affirmative yes.
Singapore Has a Modest Tax Rate
Singapore’s individual tax process is substantially less complex than much of the rest of the world and obligates that people pay a nominal tax rate contrasted to numerous other nations. The income tax rate ranges from 0-20%, depending on your tier of income. Those earning lower than $22,000 annually pay absolutely nothing in income taxes, while those making over $320,000 annually pay 20%.
Traveling around by bus or the MRT (Mass Rapid Transit) is both really easy and extremely affordable, and taxis are an additional very inexpensive choice for those who need to visit more isolated locations. The country likewise acts as a hub for travel throughout Asia, with cost effective flights routinely available for travelling to Southeast Asia, specifically for those who are inclined to plan last-minute trips.
As a little country, expats find themselves taking a trip out of Singapore to look and check out surrounding nations for new experiences. While this could be eye-catching to some individuals, others might find the size of the city to be restrictive.