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PR chances - thoughts?

Relocating, travelling or planning to make Singapore home? Discuss the criterias, passes or visa that is required.
Therer
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PR chances - thoughts?

Postby Therer » Thu, 02 Apr 2015 3:05 pm

Hi guys, I'd appreciate if the experts on the forum could share their thoughts on my PR chances:

- Early 30s, male, single, Indian, US citizen (born in the US, not through naturalization)
- Relocated from New York to Singapore 3-4 years ago
- I work in finance, managing the Asia investments of a mid-market fund (a few small investments in Singapore, majority in rest of Southeast Asia and India)
- Basic salary $500k, bonus and others $500k (annual)
- I sit on the board of directors of several of our portfolio companies
- I am responsible for 5 employees (all Singaporeans/PRs)
- B.S. in Business from a US university (not Ivy League but top 20)
- Immediate family members are in the US

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ecureilx
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Re: PR chances - thoughts?

Postby ecureilx » Fri, 03 Apr 2015 11:38 am

Therer wrote:Hi guys, I'd appreciate if the experts on the forum could share their thoughts on my PR chances:

- Early 30s, male, single, Indian, US citizen (born in the US, not through naturalization)
- Relocated from New York to Singapore 3-4 years ago
- I work in finance, managing the Asia investments of a mid-market fund (a few small investments in Singapore, majority in rest of Southeast Asia and India)
- Basic salary $500k, bonus and others $500k (annual)
- I sit on the board of directors of several of our portfolio companies
- I am responsible for 5 employees (all Singaporeans/PRs)
- B.S. in Business from a US university (not Ivy League but top 20)
- Immediate family members are in the US


With your kind of pay, years ago ICA would have invited you to apply PR.

Wonder why that doesn't happen more often nowadays

Chances ?

All odds are against you, superficially speaking ... which ICA may or may not consider .... factoring in your pay...

But, you must Buy a ticket if you want to win the lottery ...

Therer
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Re: PR chances - thoughts?

Postby Therer » Sat, 04 Apr 2015 9:11 pm

ecureilx wrote:With your kind of pay, years ago ICA would have invited you to apply PR.

Wonder why that doesn't happen more often nowadays

Chances ?

All odds are against you, superficially speaking ... which ICA may or may not consider .... factoring in your pay...

But, you must Buy a ticket if you want to win the lottery ...


Fair enough. Thanks for the feedback. I understand that my ethnicity is not in favor, hopefully my US citizenship helps.

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sundaymorningstaple
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Re: PR chances - thoughts?

Postby sundaymorningstaple » Sat, 04 Apr 2015 9:33 pm

Therer wrote:
ecureilx wrote:With your kind of pay, years ago ICA would have invited you to apply PR.

Wonder why that doesn't happen more often nowadays

Chances ?

All odds are against you, superficially speaking ... which ICA may or may not consider .... factoring in your pay...

But, you must Buy a ticket if you want to win the lottery ...


Fair enough. Thanks for the feedback. I understand that my ethnicity is not in favor, hopefully my US citizenship helps.


Frankly, I don't think your US citizenship will help, considering the crap it's causing in the financial district due to FATCA. Just sayin'. But it's better than having Indian Citizenship at the moment. I wonder though, if your industry will have an impact as we've seen a couple of other high rollers in the financial sector who got rejected with incomes in excess of 400K. Seems ICA thinks these types are not the ones that tend to make "Permanent" residents as they tend to follow the money trail. I know you are in a slightly different area, but time will tell I guess...... Good Luck.

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Re: PR chances - thoughts?

Postby GSM8 » Sat, 04 Apr 2015 10:44 pm

On the other hand, ICA may construe high income and US citizenship positively, to be a combination with incentive to stay on and eventually become Singapore citizens, thanks to CBT. Not saying it is necessarily so for OP, but there have been a few visible cases.

Therer
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Re: PR chances - thoughts?

Postby Therer » Sun, 05 Apr 2015 10:17 pm

Thanks guys, good perspectives. Looks like it's all up to the individual evaluating my application. Could go either way, fingers crossed.

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Re: PR chances - thoughts?

Postby Therer » Mon, 27 Mar 2017 11:44 am

Hi guys, it's been a while but I thought I'd circle back on this to give you some anecdotal data points as you have provided helpful insights in the past. I ended up applying in early 2016, but application was rejected after ~9 months. I plan to try again in 1-2 years after building more of a track record in this country.

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American
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Re: PR chances - thoughts?

Postby American » Tue, 11 Apr 2017 11:02 am

Therer wrote:Hi guys, it's been a while but I thought I'd circle back on this to give you some anecdotal data points as you have provided helpful insights in the past. I ended up applying in early 2016, but application was rejected after ~9 months. I plan to try again in 1-2 years after building more of a track record in this country.


wait until you have 3 years of tax returns here. how about buying some big-ticket private property? with your kind of salary, you can afford it. volunteering your time & money to some non-profit organizations and really spending time and energy there? getting married with children any time soon?

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sundaymorningstaple
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Re: PR chances - thoughts?

Postby sundaymorningstaple » Tue, 11 Apr 2017 11:14 am

Belay the buying of big ticket property, buy HDB resale to show that you are more than willing to mingle with the local population. That condo only shows the powers that be that you are investing for yourself. It doesn't show any real commitment to Singapore. Probably 1/3rd of the big ticket condos here are owned by non-resident owners who rent them out and don't even have residency here.

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American
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Re: PR chances - thoughts?

Postby American » Tue, 11 Apr 2017 11:17 am

sundaymorningstaple wrote:Belay the buying of big ticket property, buy HDB resale to show that you are more than willing to mingle with the local population. That condo only shows the powers that be that you are investing for yourself. It doesn't show any real commitment to Singapore. Probably 1/3rd of the big ticket condos here are owned by non-resident owners who rent them out and don't even have residency here.


interesting, i think i now agree with you sundaymorningstaple...

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snakebite
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Re: PR chances - thoughts?

Postby snakebite » Wed, 12 Apr 2017 1:16 pm

The high salary will not be a major advantage. If it was, then most PRs would be very high earners, and that would drive inflation. PR tends to be given to people from a cross section of society (only the powers that be decide where those crosses are marked). Doctors, nurses, teachers, lawyers, managers, entrepreneurs, sales people etc.

Key is to show intent to sink roots here. The info you provided doesn't quite show that, not yet anyway. If they think you follow the job, then they might think the job might go elsewhere some day, and you with it.


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