fbpx

Benefits of Singapore Citizenship

Incorporation of company

If you are a Permanent Resident (PR) in Singapore, you would likely be applying for future Singapore citizenship. With a PR status, a PR will be conferred benefits unavailable to a foreigner. However, PR will receive even greater privileges through obtaining citizenship. There are a plethora of benefits to be enjoyed, from government subsidies to greater freedom in purchasing a property. Possessing the Singaporean passport is also advantageous, as it allows one to travel to 190 different countries without having to apply for a visa. 

1.Property 

A citizen will receive various advantages when purchasing a property in Singapore. Citizens hold the privilege of being able to buy brand new flats from the Housing and Development Board (HDB). They also do not have restrictions on the type of property they can buy. Additionally, citizens can receive various grants and subsidies from the HDB. On the other hand, PRs are only permitted to purchase resale flats from the HDB. They also require approval from the Ministry of Law before buying property, and they are subject to the Singapore Permanent Resident (SPR) quota policy. 

2. Healthcare

Being a citizen allows you to pay 10% less for public medical services compared to PRs. Not only so, but it also entitles you to a variety of healthcare schemes. Under the Community Health Assist Scheme (CHAS), households receive subsidies for medical fees. Families are entitled to varying amounts of grants depending on the incomes of the individuals in the household. MediFund provides further financial assistance to Singaporeans with trouble paying medical bills even after receiving subsidies. The Seniors’ Mobility and Enabling Fund (SMF) offers subsidies to citizen caregivers for seniors.

3. Parenting

Parents with Singapore Citizenship will receive Parenthood Tax Rebates (PTRs) if they have children born after 2008. These rebates start from $5,000 for the first child and increase with the number of children born. The Baby Bonus Scheme also provides cash gifts to parents of Singaporean children, from $8,000 for the first two children to $10,000 for subsequent children. Citizens are also entitled to 16 weeks of maternity leave, and the government partially funds it. Schemes such as the Working Mother’s Child Relief (WMCR) are also made available to Singaporean mothers, but not PRs.  

4. Education

Students with citizenship will receive annual contributions to their Edusave Account to cushion their school fees. Primary school students receive contributions of $230 while secondary school students receive contributions of $290. There is also a stark difference in the school fees payable for Singapore citizens and PRs. This disparity is in the hundreds for primary and secondary school fees, and in the thousands for university tuition fees. 

5. Freedom to Travel and Right to Vote 

The Singapore passport is ranked as the most powerful passport in the world, with access to 190 countries and territories. Hence, acquiring Singapore citizenship will give you vast freedom to travel without applying for a visa. Singapore citizens also possess the right to vote in parliamentary elections.  

Contact Singapore Permanent Resident Specialists for an efficient and smooth process in applying for Singapore citizenship. 

Related links-
Unaudited report
Onestop company secretary
CA firms in Singapore

Leave a Reply

Your email address will not be published. Required fields are marked *