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Advantages of becoming Singapore Permanent Resident (PR) |
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Many people (usually people who are working with S-Pass in Singapore) want to know the advantages of becoming Permanent Resident (PR). Here are some of the advantages:
(1) PRs can borrow 80% of housing loan if they want to buy a property (house/flat) in Singapore
(2) PRs are required to contribute to CPF savings. Those CPF savings can be used to pay for housing loan when buying a house, or to purchase insurance/unit trusts, etc.
(3) Taxable income becomes lower because of CPF contributions. (Example, your tax payable to Singapore Government becomes lower after deducting CPF from your salary.)
(4) PRs can apply long term social visit pass for their parents to stay in Singapore.
(5) Job security. If you are not a PR and if you lose your job, your permit (S Pass or Work Permit) will be cancelled. If you cannot find another job within a few weeks, you will be repatriated (go back) to Myanmar. On the other hand, PR pass will not be cancelled as long as the pass is valid. (Validity period is usually five years.)
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