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Why 2022 May Be the Best Year to Apply for PR!

While it may appear to be an unfavourable time to apply for your Permanent Residence in Singapore because of the ongoing global pandemic right now…

The fact is… this is probably your best opportunity to do so.

Especially, if your profile isn’t as good as your colleague or the tens of thousands of applicants that apply every year.

Here’s why…

 No quota change for new PRs

The Singaporean government is one that always plans ahead. Their established yearly immigration quotas for 2020 and 2021 has not changed and is expected to continue for this year. This means Singapore’s goal is to still admit the same number of new Singapore PRs as in recent years in order to counterbalance the nation’s declining birth rate.

But that said, even though Singapore has reached a population of 5 million and the 2% Additional Population Policy remains, your application’s queue position is still critical – the date and time of your submission.

Low fertility in Singapore

Singapore has one of the lowest fertility rates in the world. It is currently pegged at 1.16 and has been for a decade, according to Singapore’s census figures.

This means that compared to India and China whose birth rates of 17 and 15 children per woman respectively need a constant influx of immigration to maintain its population, Singapore needs net-zero immigration to remain at its current 2030 population of 6.9 million.

One of the most important elements in improving your chances of being accepted for a Singapore PR application is therefore age.

In 2020, the Singapore fertility rate dropped to a record low of 1.40 children per woman 30-39 years old, according to recent government statistics. Its ageing population continues to raise concern for the government. As a result, in order to maintain a healthy population through various methods. One such solution is the Singapore PR and Citizenship plans.

Depending on your age at application, the country does need a growing population that can combat this low fertility rate. This also means delaying your application because of Covid may not be the best option. Not when this is a great opportunity for most applicants.

Lesser competition due to travel limitations

In a crisis, individuals frequently cling to their previous norms in order to get back to normal as quickly as possible. Indeed, the Covid-19 tragedy has had a tremendous influence on the lives of our non-resident workers in Singapore. In just one year, 181,500 foreigners were unemployed – one of the steepest falls in Singapore foreign employment rates in over 20 years.

However, this unfortunate decline also indicates less competition for those wanting to finally get their Singapore PR status.

With Singapore’s government implementing increasingly tighter hiring criteria, one of its goals is to reduce the reliance on foreign workers to give more jobs to the locals and citizens.

So, while Singapore’s immigration PR approval system has dropped to about a 30,000-per-year quota, the current crisis means you can anticipate less competition for now. Especially, as more foreigners are rushing to return home as travel borders limitations are being lifted up around the world.

Conclusion

If you’ve decided Singapore is the perfect place for you to settle down and call home in the long run, there’s no better time than now to submit your PR application.

Take advantage of this rare opportunity and speak with one of our consultants who are here to help you maximise your application chances.

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