There is a myriad of benefits that comes with being a Singapore Permanent Resident, which is why a lot of people apply for it. Here are some of the things you are entitled to if you become a Singapore PR.

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• You can live in the country for five years, as well as enter and exit the country freely without the need for additional visas.

• You are able to enjoy safety, security and economic stability in the country.

• You will be able to change jobs freely without the additional worry of reapplying for work permits. There are also more jobs open to Singapore PRs that offer higher salaries compared to those available to full foreigners.

• The Central Provident Fund or CPF which employers contribute an additional 16% to 17% to. The CPF funds can be used for investments and give permanent residents tax reliefs. Should a PR decide to renounce their permanent residency, he or she is entitled to the full amount of accumulated CPF funds.

• You are able to purchase resale Executive Condominiums or HDB homes. PRs can choose and easily secure loans from various purchase loan schemes. You can also use your CPF funds to pay mortgages or deposit, if need be.

• You will be entitled to subsidized rates for public polyclinics, hospitals, and national centers. PRs are also entitled to Medisave and can use Medisave to offset or pay medical bills.

• You or your children can enjoy subsidized fees or tuition grants in most tertiary educational institutions. Your children are also given priority for enrollment to local public schools, just behind citizens.

• You can register or start a company without the need of a local partner or representative and are subject to lesser regulations imposed on full foreigners.

• You can also apply Singapore permanent residency for your spouse and unmarried children who are younger than 21 years old. Children who are of school-age will be given high priority, next to citizens, to enter public schools of their own choice.

• Apply for long-term visas for your parents.

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It is a must to remember that conversely, being a Singapore PR also gives the government some rights. For examples, young sons who are PRs must enlist in the military service by the age of 16.5 years old and serve for 2 years upon turning 18. There is also a need to participate in the Operationally Ready National Service training, also known as Reservist training, annually until they reach the age of 50 (for officers) and 40 (for other ranks). Singapore welcomes foreigners with a significant contribution or certain ties to stay in Singapore so selecting the best option is crucial to support your Singapore PR case as there is quota for different SPR options.