Things You Need to Know about PR Schemes in Singapore

Due to Singapore’s status as one of the most developed and secure cities in the world, the process of becoming a permanent resident of this island nation is highly competitive. Nevertheless, the mere intention to apply PR Sg does not imply that it should be undertaken without careful consideration. You need to have a thorough understanding of the stakes involved before making any kind of decision.

Securing Singapore Permanent Resident status confers the right to reside, work, and travel to and from Singapore without the imposition of visa restrictions. This represents the most beneficial aspect of attaining this status. Furthermore, Permanent Residents do not need to obtain a new work visa, such as an Employment Pass (EP).

Your employer will also make contributions to the Central Provident Fund (CPF) on your behalf if you are successful in apply PR Sg. It is essential to recognize that possessing PR status grants you the potential to acquire Singaporean citizenship in the future. This represents one of the limited methods to acquire a Singapore passport, which is regarded as one of the most influential passports globally.

Regardless of the situation, you will need to be aware that there are three separate ways to obtain permanent residency in Singapore. Through the Professionals/Technical Personnel and Skilled Worker Scheme (PTS), which is the most common route to acquiring permanent residency, individuals can attain PR status. Both the Global Investor Programme (GIP) and the Foreign Artistic Scheme represent two additional avenues for securing these opportunities.

Applicants for the Professionals/Technical Personnel and Skilled Worker Scheme (PTS) must have a minimum of two years of continuous employment in the country. Furthermore, applicants must hold either an Employment Pass or an EntrePass. If applying via the Professionals/Technical Personnel and Skilled Worker Scheme, applicants also need to satisfy additional requirements, such as being under 40.

When it comes to Singapore’s Global Investor Programme (GIP), it offers foreign investors in Singapore an exceptional opportunity to apply for PR Sg by making an initial investment of 2.5 million Singapore Dollars in a new or existing business entity or approved funds within six months of receiving approval in principle.

Under the Foreign Artistic Talent (ForArts) Scheme, which is offered by Singapore, Singapore Permanent Residents (PRs) have the opportunity to pursue and obtain Singapore citizenship. This is only a way for you to remain in Singapore with permanent resident status under the PR program if you are a foreign national and you have attained greatness in your field of artistic practice.

Applicants are required to provide evidence of recognition as an artist within their home country, along with international experience or credentials, prior to the Singapore Citizenship and Immigration Council (ICA) and the National Arts Council (NAC) reviewing their application for Singapore Permanent Residency through the PR scheme for Foreign Artistic Talent program.