How to plan the long term (PR?)

[ckx2]

Dears,

a lot has happened since I have first asked for ISP advise when I got here almost three years ago. Nowadays I'm happily married with my Singaporean Chinese wife and we are expecting our first baby - and I could not be any happier!

Of course with family in mind, one starts to think about the long-term possibilities to stay in Singapore. Although my wife is very open to experience other cultures and countries, and I have the favorable position of a company, that would gladly relocate me to our HQ in Europe, should the circumstances make it necessary.

However, I'd love to stay here. I want to be able to provide my family with a home, that is preferrably more than a rented condo. Right now I'm on EP, that has been renewed until January 2019. My wife was bringing up the topic of applying for PR, to have more security and look into buying a HDB for example. At the same time I'm reading about the cutbacks from the gov and decreasing chances for an application.

So that kept me thinking. What are my options, if for whatever reason my EP will not be renewed next year? As far as I read up (and most of my resources are based on this forum - thank you all so much for contributing), I could apply for a LTVP to at least be with my family for the time being. However, that would only work for a limited amount of time, until our savings are running out - a situation I'd like to avoid. So what other options are there? Is it likely that my chances of having an EP renewal are now higher with my family background?

Lot's of hypothetical questions, and I'm sorry if they should have been covered before. In that case, call me a worrysome dad and brush it off, haha.

A bit of background if it helps:

Age: 30
Nationality: German
Income: >170k
Married with a Singaporean Chinese
Expecting our first child in May 2019

Thank you all and merry Christmas

[PNGMK]

Your ep is mostly reliant on your job and how it dovetails with govt policies. I would probably consider PR if you're in a job that pays well for PRs. What I mean is there is no point apply for PR if the next job as a PR only pays a basic wage. PR can cap your wages to the level that locals are paid unless you are special.

[singaporeflyer]

Dears,

a lot has happened since I have first asked for ISP advise when I got here almost three years ago. Nowadays I'm happily married with my Singaporean Chinese wife and we are expecting our first baby - and I could not be any happier!

Of course with family in mind, one starts to think about the long-term possibilities to stay in Singapore. Although my wife is very open to experience other cultures and countries, and I have the favorable position of a company, that would gladly relocate me to our HQ in Europe, should the circumstances make it necessary.

However, I'd love to stay here. I want to be able to provide my family with a home, that is preferrably more than a rented condo. Right now I'm on EP, that has been renewed until January 2019. My wife was bringing up the topic of applying for PR, to have more security and look into buying a HDB for example. At the same time I'm reading about the cutbacks from the gov and decreasing chances for an application.

So that kept me thinking. What are my options, if for whatever reason my EP will not be renewed next year? As far as I read up (and most of my resources are based on this forum - thank you all so much for contributing), I could apply for a LTVP to at least be with my family for the time being. However, that would only work for a limited amount of time, until our savings are running out - a situation I'd like to avoid. So what other options are there? Is it likely that my chances of having an EP renewal are now higher with my family background?

Lot's of hypothetical questions, and I'm sorry if they should have been covered before. In that case, call me a worrysome dad and brush it off, haha.

A bit of background if it helps:

Age: 30
Nationality: German
Income: >170k
Married with a Singaporean Chinese
Expecting our first child in May 2019

Thank you all and merry Christmas

if your EP is not renewed, you can get a LTVP and do the same work using LTVP?

[SCmarriedtoMalaysian]

Dears,

a lot has happened since I have first asked for ISP advise when I got here almost three years ago. Nowadays I'm happily married with my Singaporean Chinese wife and we are expecting our first baby - and I could not be any happier!

Of course with family in mind, one starts to think about the long-term possibilities to stay in Singapore. Although my wife is very open to experience other cultures and countries, and I have the favorable position of a company, that would gladly relocate me to our HQ in Europe, should the circumstances make it necessary.

However, I'd love to stay here. I want to be able to provide my family with a home, that is preferrably more than a rented condo. Right now I'm on EP, that has been renewed until January 2019. My wife was bringing up the topic of applying for PR, to have more security and look into buying a HDB for example. At the same time I'm reading about the cutbacks from the gov and decreasing chances for an application.

So that kept me thinking. What are my options, if for whatever reason my EP will not be renewed next year? As far as I read up (and most of my resources are based on this forum - thank you all so much for contributing), I could apply for a LTVP to at least be with my family for the time being. However, that would only work for a limited amount of time, until our savings are running out - a situation I'd like to avoid. So what other options are there? Is it likely that my chances of having an EP renewal are now higher with my family background?

Lot's of hypothetical questions, and I'm sorry if they should have been covered before. In that case, call me a worrysome dad and brush it off, haha.

A bit of background if it helps:

Age: 30
Nationality: German
Income: >170k
Married with a Singaporean Chinese
Expecting our first child in May 2019

Thank you all and merry Christmas

Happy Holidays and Congrats to you!

Actually I would suggest to go for LTVP.. Cause, as you already know, LTVP could guarantee your stay for a longer time e.g. 2 years/3 years etc. It is more risky for EP, if any goes wrong with your employment (e.g. resignation), you will only be able to stay for 30 days? Then you got to go out of Singapore and come back again. Yes it is important to have enough savings all for raining days. But personally, I think having the status-stability is much more important than having the financial-stability.

For LTVP, you could continue working on LOC. Your employer will not need to pay for foreign worker's levy so I think it's a plus point. Perhaps you should check with your HR on whether they will continue hiring you if you were to get a LTVP?

[ckx2]

Thank you so much for your replies. I've checked the LTVP/LOC option and that seems like the way to move forward! I'm just worried if my landlord will accept LOC as a valid work-permit?

[singaporeflyer]

Thank you so much for your replies. I've checked the LTVP/LOC option and that seems like the way to move forward! I'm just worried if my landlord will accept LOC as a valid work-permit?

LTVP is a valid resident visa to stay in SG. No issues

[ckx2]

Thank you.

I have been in touch with a MOM officer. Basically he told me, that I can apply for LTVP and once that has been approved, my EP will automatically get cancelled. However, the approval for LOC is separate can take up to three months, and in the meantime I'm not eligible to work.

Certainly and unwanted scenario, which needs further consideration.

[SCmarriedtoMalaysian]

Thank you.

I have been in touch with a MOM officer. Basically he told me, that I can apply for LTVP and once that has been approved, my EP will automatically get cancelled. However, the approval for LOC is separate can take up to three months, and in the meantime I'm not eligible to work.

Certainly and unwanted scenario, which needs further consideration.

After obtaining your LTVP, you can work for 1 month. When you complete your LTVP formalities, your EP will be taken in by the ICA officer and they will issue you a letter which states something like "temporary LOC". I can't remember the exact words, but my Husband got it early last year.

Also, I don't think that LOC approval require 3 months. Hubs got his approved in a week. It is also stated in MOM's website that the processing time is 1 week. And in some cases, more. http://www.mom.gov.sg/passes-and-permit ... of-consent

Maybe you could try and talk to more LTVP holders who were ex-working permit holders to see how long it took for their LOC to get approved. I know quite a handful of them, all got approved within a week or so. I don't think you'll be that "suay" and need 3 months...

[yosithezet]

Your ep is mostly reliant on your job and how it dovetails with govt policies. I would probably consider PR if you're in a job that pays well for PRs. What I mean is there is no point apply for PR if the next job as a PR only pays a basic wage. PR can cap your wages to the level that locals are paid unless you are special.

How can getting PR cap one's wages? Assuming one is on EP, but locally hired rather than expat assignee, how would having PR cap wages?

[sundaymorningstaple]

Depending on your contract. Most contracts have some sort of clause built into them which can do just that, due to the increased costs to the employer having to pay CPF. This isn't much of an issue with S pass holders as their employers are already being whacked by 330 to 650 dollar foreign worker levies. They would probably welcome it, but having to pay Employers CPF on say a maximum of the 6K CPF cap ($1020) on top of your wages wouldn't fly very good with the employer if you are on an EP where there are no levies.