Rightleolm31 wrote: ↑Mon, 06 Jan 2020 2:55 pmIf I understand correctly that’s only for those 50+ looking to retire in West Malaysia?
They have another option to withdraw under - You can withdraw your CPF in full if you are about to leave or have left Singapore and West Malaysia permanently with no intention of returning to either country for employment or residence.
What I heard before is that if I want to come back as PR I would then need to deposit the full CPF money withdrawn plus interest. If you know that this has happened before do share!
Thanks
https://va.ecitizen.gov.sg/cfp/customer ... refaq.aspxkedeepu wrote: ↑Sun, 28 Jun 2020 3:41 pmHello everyone,
I am planning to renounce my PR by end Sep - early Oct time. Myself and my wife are PRs, however she is currently back to our home town and not planning to come back for the cancellation of PR (due to non-PR kids and Covid situation). So I am looking for more info like if it will be possible for me to cancel the PR on her behalf ?
What's required for that ?
Anyone with such experience ?
Thank you in advance for sharing !
Hi BroHimanshu_p wrote: ↑Mon, 27 Jan 2020 11:25 pmHello All,
I am Indian citizen, lost my PR in 2015. I have not withdrawan my CPF yet.
While browsing thru the CPF website and reviewed the withdrawal form. It said i need to declare i dont have any intention to come back to work or residence in Singapore and West Malaysia.
So does it imply if I am working in Kuala Lumpur I cannot withdraw my CPF, but same doesnt hold true if I am working in Jakarta.
Thanks for advice in advance
Hi Wd40. There is always a reason why people give up their PR. Retiring and moving back to the country of origin as well as the need for their CPF money for their retirement. Also there is a time frame for bringing CPF money to their country of origin. If they pass the timeline they get taxed on that money. So as you can see people do it for obvious reason. No one does it just for the fun of it. We do value Singapore PR and i for one would love to keep it but i can not without sacrificing my CPF. Hope you understandWd40 wrote: ↑Wed, 05 Dec 2018 8:08 pmPeople who are giving up SG PR, do you guys realize how difficult it is to get one? I find it ironic, you guys have been given PR and you dont even value it, while so many people here would do anything to get one. BTW, PR by investment scheme costs 2M in Singapore, in comparison US EB1 is only 500K USD.
1. If you are the main PR, once you cancel the main PR, the dependent/sponsored PR will also be automatically cancelledPR 777 wrote: ↑Wed, 28 Oct 2020 8:16 pmHi All
I intend to renounce my PR and withdraw my CPF money. Need to do that in a given time frame due to tax man in Australia. I have few questions and im thankful for any answers in advance.
1. Im in Singapore but wife is in Australia. I have to renounce both of our PR's. Can i get her letter of authorization to renounce her PR as we have to apply for it together? I have all her documents with me.
2. When i go to ICA to renounce our PR how long does it take to get a reply from ICA.
3. After renouncing PR and receiving their reply how long can i remain in Singapore before going back to Australia. This COVID 19 has made it difficult to get back due border closures in Australia.
Thank you all once again
WD40 just salty as he has failed to get PR despite several (or many) applications. He does make a valid point but everyone's circumstances are different.PR 777 wrote: ↑Wed, 28 Oct 2020 8:45 pmHi Wd40. There is always a reason why people give up their PR. Retiring and moving back to the country of origin as well as the need for their CPF money for their retirement. Also there is a time frame for bringing CPF money to their country of origin. If they pass the timeline they get taxed on that money. So as you can see people do it for obvious reason. No one does it just for the fun of it. We do value Singapore PR and i for one would love to keep it but i can not without sacrificing my CPF. Hope you understandWd40 wrote: ↑Wed, 05 Dec 2018 8:08 pmPeople who are giving up SG PR, do you guys realize how difficult it is to get one? I find it ironic, you guys have been given PR and you dont even value it, while so many people here would do anything to get one. BTW, PR by investment scheme costs 2M in Singapore, in comparison US EB1 is only 500K USD.
sundaymorningstaple wrote: ↑Mon, 08 Jul 2019 4:18 pmLong time Kiwi mate of mine kept his CPF account for over 20 years before returning to Singapore and actually getting PR. Gave up his PR a couple of years ago over the inability to get permission to have two maids (wife gave birth to triplets) so he gave up his PR and moved to Surabaya (where his wife's from). Far as I know his CPF is still sitting there and has more than doubled since he worked here back in the late 80's early 90's when EP holders still had to contribute to CPF.
I realise this is responding to old post, but thanks for the information here.PNGMK wrote: ↑Mon, 08 Jul 2019 5:38 pmYes F Vespa kept his for over 15 years after cancelling PR when he sold TechnoTransfer in order to keep it away from creditors and gold diggers - as he almost went broke in the GFC due to property tenants being unable to pay rent and property tax foreclosures looming it was his CPF that he knew he could fall back on. It must be one of the very few investments worldwide (apart from secret and illegal accounts) that has this level of protection. You'd need an impossible court order from the Singapore High Court pretty much to get a CPF payout without the account owners agreement. On the other hand I know idiots (divers) who cashed their in (also EP holders incidentally) and bought a range rover with it. Guess where the Range Rover is now? Junkyard. I fear OP will do a similar thing.
Yes. It's a fairly unique style of holding that is finally starting to attract some attention due to it's high level of security. I should add that there are some funky rules about withdrawing amounts and when interest is paid (interest is converted to principal on Jan 1 so if you want to with draw only interest do so then) but CPF effectively acts as a protected HISA once you are over 55 and have above the basic retirement sum (which most expats would have).TropicalExpat wrote: ↑Wed, 09 Dec 2020 11:28 amsundaymorningstaple wrote: ↑Mon, 08 Jul 2019 4:18 pmLong time Kiwi mate of mine kept his CPF account for over 20 years before returning to Singapore and actually getting PR. Gave up his PR a couple of years ago over the inability to get permission to have two maids (wife gave birth to triplets) so he gave up his PR and moved to Surabaya (where his wife's from). Far as I know his CPF is still sitting there and has more than doubled since he worked here back in the late 80's early 90's when EP holders still had to contribute to CPF.I realise this is responding to old post, but thanks for the information here.PNGMK wrote: ↑Mon, 08 Jul 2019 5:38 pmYes F Vespa kept his for over 15 years after cancelling PR when he sold TechnoTransfer in order to keep it away from creditors and gold diggers - as he almost went broke in the GFC due to property tenants being unable to pay rent and property tax foreclosures looming it was his CPF that he knew he could fall back on. It must be one of the very few investments worldwide (apart from secret and illegal accounts) that has this level of protection. You'd need an impossible court order from the Singapore High Court pretty much to get a CPF payout without the account owners agreement. On the other hand I know idiots (divers) who cashed their in (also EP holders incidentally) and bought a range rover with it. Guess where the Range Rover is now? Junkyard. I fear OP will do a similar thing.
You both make very good points. So if a PR leaves, but doesn't get the REP renewed, they can keep their money in CPF earning interest.
At the same time, it is well protected against pretty much all legal action.
Thanks again!
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