Singapore, popularly known as the Little Red Dot, is a regional powerhouse in Southeast Asia. Although it is a small country, it has one of the strongest economies in the world, and international talent from all over the world flock to the city-state to work and live. In comparison to a year ago, the country’s economy grew by more than 3% in the third quarter. Analysts also forecast a 4.2 percent increase quarter-over-quarter and a 2.4 percent increase year-over-year.
The ultimate goal of anyone working in Singapore or running a business is to gain Singapore permanent residence, which comes with a slew of privileges, but who can apply? Foreign individuals or business owners who currently hold a work pass (Employment Pass, Personalised Employment Pass (PEP), EntrePass, or S Pass) and have worked in Singapore for the previous twelve months are eligible to apply for Singapore PR or permanent resident status under the Professionals/Technical Personnel and Skilled Workers Scheme (PTS).