Is Salary an Important Factor in your PR Application?

Singapore is ranked as one of the most desirable places to live. Every year, a large number of foreigners pursue the highly coveted PR. Yet, only about 30,000 individuals receive it.  While there are no guidelines or rubrics by the ICA on how an applicant is assessed, we have provided some factors that affect one’s PR application based on our knowledge and expertise.

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Undoubtedly, your salary is a crucial factor in your application. Salary a fundamental evaluation criterion that allows the government to assess one’s ability to sustain a conducive standard of living in Singapore. A higher wage implies stability.  Hence, it is a factor of consideration during your application.

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However, one must note that it is not the most vital factor that may make or break your application. Other attributing factors might also affect your application success rate. Hence, applicants should be clear on their strengths and weaknesses to increase the approval chances.

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[Heritage]

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Singapore prides itself as a multiracial society that lives in harmony. Race and heritage background plays a significant role in your PR application. To maintain social stability and racial balance, the government commits to maintaining a stable proportion of each race in Singapore. Based on this, it would mean that there are limited PRs accepted annually. As such, forms of consideration could include your existing nationality and ethnicity to determine one’s ability to integrate cohesively into Singapore’s society. Knowing where you stand in the ratio heritage quota does matter too. A comprehensive and personalised evaluation with us will be sufficient for you to determine your current application standing.

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[Age]

Age is a factor of consideration during your application. Indeed, youth is an elevated edge one possesses – due to their perceived ability to contribute to Singapore’s current and future social and economic growth. Furthermore, Singapore faces the problem of an ageing population. In recent years (AY21/22), according to Singapore’s 2022 Population Brief, the median age of the population has risen from 42.5 years to 42.8 years. Such an issue is a growing source of concern to many locals. It’s been known to many, to supplement and alleviate the ageing population, a younger applicant might stand a higher chance in their PR application. While many expatriates love to stall their PR applications, Kenneth & Co would highly recommend not to and grab the opportunity now.

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While that’s said above, this does not mean older applicants are not provided with an equal opportunity to obtain their residency in Singapore. Fortunately, the strength of older applicants lies within their niche expertise, experience and market knowledge. Hence it is imperative to be able to highlight the contributions during your application.

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[Kinship & Family ties]

One other crucial factor determining your PR approval is the kinship and family ties established in Singapore. Having family members who are Singaporeans or PRs may give you an advantage over others due to the existing bonds already present that might facilitate easier integration into the society.

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[Commitment]

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ICA takes into account your commitments in Singapore. By sinking your roots here, there is a presumed commitment and desire to reside here.  Family Applications are seen with a higher probability of success, as it indicates your intention to settle in Singapore permanently. However, these are just one of the many booster tips we have for your enhanced permanent resident application. If you are applying for your family or yourself, do not hesitate to contact us. We would love to provide personalised solutions to increase your chances of success.

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Verdict

Every application is unique – factors affecting every application differ.  Even though salary does play an essential role in your application, this does not mean that a higher wage guarantees your residency in Singapore. Similarly, having a relatively lower salary does not equate to a slimmer chance for success.

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Numerous factors can boost your applications aforementioned. Read our blog article on how you can boost the chances for your PR application. Also, we invite you to book a free consultation. if you are still unsure of where your profile stands amongst the applicants. Our experienced consultants can provide insights on your PR application and the know-how to enhance your chances.

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Disclaimer: All information is true as of time of publish in 2022, information and data may change beyond this date. For most updated information, always refer to relevant site before making decisions. Kenneth & Co disclaims any liability for any harm caused by using the information provided.