Trends Related to Singapore Permanent Resident or Citizenship
The entrepreneurs after their Singapore business incorporation dream of acquiring the permanent resident status and then, the citizenship of this island nation. It is also the case with the professionals from various fields.
Singapore: The Garden City
Singapore, also known as Lion City, is a melting pot where different races and cultures meet and benefit from one another to create a unique Singaporean blend. Individuals belonging to the ethnic groups such as Chinese, Malay, Indians, and Europeans have contributed to Singapore’s success as a ‘Financial and Accounting Hub’ and Compay Incorporation Destination.
Singapore is one of the countries that can boast of ZERO external debts. In fact, it is one of the major investors in the emerging economies.
Permanent Resident (PR) and Citizenship
Singapore strongly believes in meritocracy. Its economy is based on external trade and quality of its human resources. The unemployment rate is 2%. It has tightened its immigration policies to limit the inflow of foreigners as it is putting extra pressure on its resources.
It has decided to grant the Permanent Resident (PR) status to only 30,000 most eligible individuals and 15,000 – 25,000 citizenship annually.
There is a reason why expatriates guns after the PR or citizenship status. It brings them the benefits like, access to public housing, education and healthcare services at favorable rates. They also benefit from CPF savings, reliefs and rebates in personal tax. However, qualifying for the privileges is not easy.
Factors that can Affect Application for the Permanent Resident Status
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Singaporean has a very motivated and qualified workforce. The majority of mulch-lingual professionals are English speaking, which the MNC’s shifting their bases from all over the world to Singapore find useful.
There is a lot of emphasis on hiring qualified and experienced professionals. It also reflects in the expatriates who are awarded the PR status and citizenship of Singapore. Almost 70% – 80% of the new PRs and Citizens have at least post-secondary education.
Singapore, at present, has 63,000 vacant job positions to be filled with wise and educated professionals.
Singapore’s population is made up of 74.3% Chinese, 13.3% Malays, Indians 9.1% and 3.3% of individuals from the other ethnic groups. Almost 42% of its population is made of foreigners. In 1970, Singapore’s population was 2.,74,500 million of which 3% were non-residents foreigners.
During the last 45 years, Singapore’s population has risen to 55,535,000. Of these 71% are Singapore citizens and permanent residents and 29% are non-residents foreign work pass holders.
It means 1 out of every 1346 world citizens is a Singaporean. However, do not let the small numbers, when compared to the other countries, deceive you, today, Singapore is the second most densely populated country in the world. It has a unique and diverse culture of ‘hawker cuisines’ on the offer and the country celebrates major Chinese, Malay, Indian, and Western festivals.
This highly developed country score high in education, healthcare, life expectancy, quality of life, personal safety, housing. As many as 90% of its citizens live in the houses they own. The country is politically stable, and one of the least corrupt place to live in.