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REP expiring in 2 months time...advice needed

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PNGMK
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Re: REP expiring in 2 months time...advice needed

Postby PNGMK » Tue, 12 Jul 2016 4:46 pm

You don't even want to think about Malaysia ($2MM or professional only basis pretty much and the general view is that it is impossible anyways). Indonesia no chance unless you're married I believe. Not sure about PI. So Singapore has a pretty good deal going.
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Re: REP expiring in 2 months time...advice needed

Postby Aragorn2000 » Wed, 13 Jul 2016 9:28 am

why are u guys even trying/fighting to retire in south east asia? How about just going home?

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Re: REP expiring in 2 months time...advice needed

Postby PNGMK » Wed, 13 Jul 2016 9:34 am

I'm going to assume this is a serious question and not just a stirrer...

1. Tax. I have no interest in paying ATO tax rates.
2. Medical care. Some of us have no way to re-establish medical insurance in our home countries
3. Cost of living. Although debatable generally the COL in PI or Thailand is far cheaper than Australia or the UK. I'm in half a mind to say it's as cheap in some parts of the USA.
4. Weather.
5. For some - women.
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Re: REP expiring in 2 months time...advice needed

Postby BBCWatcher » Wed, 13 Jul 2016 10:11 am

PNGMK wrote:1. Tax. I have no interest in paying ATO tax rates.

Under the Trans-Tasman Travel Arrangement you could pay New Zealand's tax rates instead, right? ;)

2. Medical care. Some of us have no way to re-establish medical insurance in our home countries

OK, but that doesn't apply to Australia and her citizens with Australian Medicare. And which countries would those be, anyway? Even the United States fixed that problem -- mostly, anyway. It's not as if Singapore's medical system is that great. It's "OK," I suppose.

3. Cost of living. Although debatable generally the COL in PI or Thailand is far cheaper than Australia or the UK. I'm in half a mind to say it's as cheap in some parts of the USA.

OK, but this thread is discussing Singapore permanent residence (PR) which does require substantial physical presence in Singapore with Singapore's cost of living. Conceivably a Singapore PR could spend about 3 years out and 2 years in, in alternating fashion, and renew REPs. But there's still substantial physical presence required. It's also not clear to me why Singapore would be a particularly advantageous "base" versus, say, Darwin -- why hanging onto Singapore PR would matter if you're actually living in the Philippines or Thailand, as examples. Except for taxes, I guess, but why not Malaysia's M2HH program (for example)?

4. Weather.

Darwin's weather (for example) isn't substantially different, is it? U.S. citizens have Hawaii, to pick another example. EU/EEA citizens have Guadeloupe and Martinique, as some more examples. Cyprus ain't bad either. Canadians...well, OK, Canadians wish they had vestiges of a colonial empire. ;)

5. For some - women.

Australia has some, I've heard. Non-criminal alien spouses are eligible for immigration into Australia with their citizen spouses.

Agagorn makes a fair point, perhaps. However, I'll add some more powerful reasons to your list:

6. Children and grandchildren. Many PRs want to continue living in Singapore because that's where their children and grandchildren live, and they want to be close to their children and grandchildren -- and their children and grandchildren close to them. M2HH and a retirement home in Johor might be a partial solution -- but only partial.

7. Semi-retirement. Many PRs want a "soft" retirement and want to continue working part-time in Singapore, with their professional connections, opportunities, and business interests intact.

8. Friends and other family members. Many PRs have extensive networks of friends in Singapore, and/or they may be within mixed nationality households (Singaporean and PR) with family connections through marriage -- including sisters-in-law, brothers-in-law, etc.

9. Mobility. Singapore is fairly rare (in ASEAN at least) in having a particularly well developed public transportation system, a great asset for elder mobility in particular. Uber and its competitors have reduced this advantage to some extent, but it's still a major advantage.

10. Consular services. PRs still depend on their home governments for passport renewals and sometimes other services -- voting, notarial services, and social insurance payments, as examples. Singapore is #1 in the area in terms of embassies and consulates. You don't have to get on an airplane to get your passport renewed, for example. Many foreign governments only have one embassy or consulate in the entire region...and, in such cases, it's most often in Singapore.
Last edited by BBCWatcher on Wed, 13 Jul 2016 10:26 am, edited 1 time in total.

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Re: REP expiring in 2 months time...advice needed

Postby Aragorn2000 » Wed, 13 Jul 2016 10:17 am

PNGMK wrote:I'm going to assume this is a serious question and not just a stirrer...

1. Tax. I have no interest in paying ATO tax rates.
Pension are taxed to some extent, but since you are retired, there should no significant enough income to attract a tax?

2. Medical care. Some of us have no way to re-establish medical insurance in our home countries
Any one can get free health care in UK, and re-enrol medicare in AU should be straight forward?

3. Cost of living. Although debatable generally the COL in PI or Thailand is far cheaper than Australia or the UK. I'm in half a mind to say it's as cheap in some parts of the USA.

Assuming you have paid off your mortgage, cost of living is just food and entertainment?

4. Weather.
To each his own..

5. For some - women.
Well no comment..


It's a serious question. My comments above

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Re: REP expiring in 2 months time...advice needed

Postby BBCWatcher » Wed, 13 Jul 2016 10:41 am

Aragorn2000 wrote:Pension are taxed to some extent, but since you are retired, there should no significant enough income to attract a tax?

I'm not with you on that one. Singapore is rather unusual in not taxing personal interest, dividend, and capital gain income. Many retirees have substantial amounts of that type of income. It is a factor, and there's a reason PNGMK listed that factor first. It's not necessarily the only or most important factor -- I don't think it is -- but it's a real factor.

This tax advantage is largely or entirely lost on U.S. citizens, please note. Also, tax policies can and do change. It's possible, even likely, that Singapore will start taxing interest, dividend, and capital gain income at some point in the future.

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Re: REP expiring in 2 months time...advice needed

Postby PNGMK » Wed, 13 Jul 2016 12:03 pm

1. ATO tax is a major headache for self funded retirees and the bloody baby boomers stole my pension. CPF Life is frankly looking like my best option for a pension (plus other forms of passive income). The current govt is working to make everyone with less wealth than Malcom a pauper anyways (Australian fiscal policy is designed to strip wealth from the middle class regardless of how it's packaged). COL in Australia is through the roof right now but may reset with the coming recession.
2. Medicare is actually NOT easy to restart after an absence of 7 years or more plus my yankee doodle spouse would have no coverage at all for 2 to 4 years.
6&8 from BBCW list actually line up better for me - I have SC children and at least one has visions of rising to the top of the SPF. It is far easier to come in from TH,MY or the PI than Australia for an older person.
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Re: REP expiring in 2 months time...advice needed

Postby BBCWatcher » Wed, 13 Jul 2016 1:28 pm

PNGMK wrote:Medicare is actually NOT easy to restart after an absence of 7 years or more plus my yankee doodle spouse would have no coverage at all for 2 to 4 years.

It's after 5 years not 7, and it doesn't look all that hard. Assuming we're both talking about Australian Medicare, of course (and the latest, current enrollment processes). Regarding your foreign spouse, your spouse is eligible to enroll in Australian Medicare upon application for permanent residence and approval of temporary residence, not upon receipt of permanent residence. Or, to get more technical and more precise, upon approval of visa subclass 820. Subclass 820 approvals are taking about 13 months on average at present (according to the government). Your spouse does not have to wait for subclass 801 approval, which is where you might be getting that "2 to 4 year" (mis)estimate.

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Re: REP expiring in 2 months time...advice needed

Postby ecureilx » Wed, 13 Jul 2016 2:56 pm

Strong Eagle wrote:I offer one other story. I have a friend, into his 70's that has been retired for many years. He was the MD of a very well know MNC in Singapore, and has beaucoup dollars. He has not worked in many years, nor is involved in one of the investment programs that gahmen has. He is quite involved in many volunteer activities.


I knew guy like that, about 70s, heavily involved in Volunteer work stuff, and won a few awards.

Was on PR, under PTS. When his last REP came for renewal, he was working part time, and was renewed without an issue. When that expired, ICA said they can't renew, and that's it.

He is lot loaded, living off his Pension + savings.

He had to seek help of some of his volunteer places for them to write on his behalf and more, to get his next REP.

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Re: REP expiring in 2 months time...advice needed

Postby edwardkk » Tue, 09 Aug 2016 4:19 pm

PNGMK wrote:BBCW - the problem is the policy is not at all clear in this grey area before 55... it is quite clear after 55. There has even been a minister speaking about how PR will not be forced out post retirement. I need to hang onto my job until 55 as well (52 this year I should make it although my REP runs until I am 54 and 3 months old - damn).


Did you mean ICA will allow you to renew your REP after you turn 55 and without a job (not gainfully employed lol)...?

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Re: REP expiring in 2 months time...advice needed

Postby PNGMK » Tue, 09 Aug 2016 10:18 pm

edwardkk wrote:
PNGMK wrote:BBCW - the problem is the policy is not at all clear in this grey area before 55... it is quite clear after 55. There has even been a minister speaking about how PR will not be forced out post retirement. I need to hang onto my job until 55 as well (52 this year I should make it although my REP runs until I am 54 and 3 months old - damn).


Did you mean ICA will allow you to renew your REP after you turn 55 and without a job (not gainfully employed lol)...?


Yes. If you are retired and have the wherewithal to maintain your life in Singapore. It's one of the hidden benefits of PR that the Indians haven't stuffed up yet.
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Re: RE: Re: REP expiring in 2 months time...advice needed

Postby ecureilx » Tue, 09 Aug 2016 10:42 pm

PNGMK wrote:Yes. If you are retired and have the wherewithal to maintain your life in Singapore. It's one of the hidden benefits of PR that the Indians haven't stuffed up yet.



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Re: REP expiring in 2 months time...advice needed

Postby sundaymorningstaple » Wed, 10 Aug 2016 10:40 pm

PNGMK wrote:...yet.



Good thing you put in a pre-qualifier. They'll take it as a challenge otherwise! :-k

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Re: REP expiring in 2 months time...advice needed

Postby edwardkk » Thu, 11 Aug 2016 9:34 am

PNGMK wrote:Yes. If you are retired and have the wherewithal to maintain your life in Singapore. It's one of the hidden benefits of PR that the Indians haven't stuffed up yet.


is $ in CPF wherewithal? :D have quite a shitload of it...

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Re: REP expiring in 2 months time...advice needed

Postby sundaymorningstaple » Thu, 11 Aug 2016 3:02 pm

Do you own your own home here? Or is it being used as a method of meeting the minimum sum required by CPF re: retirement account


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