PR renewal for 50+ Years & Employment

[cathsg]

I have been a PR for 25+ years and worked for a MNC till end of 2014. I am 50+. I renewed my PR in 2015 Feb and at that time I lost job. PR was renewed for 5 years.

I started my own business in 2016 and contributed CPF till Mid of 2019. After Mid of 2019, I am still doing business but not taking any salary due to cash flow and need for more funds. Planning to take salary again from Mid of 2020. I have some cash reserve and my wife too working elsewhere so maintenance and daily expenses not an issue.

1) I plan to renew PR in Feb 2020. One of the condition for PR renewal is gainfully employed at the time of PR renewal. Do I have to be take salary/CPF contribution at the time of PR renewal?
2) I own two companies, does it matter if I don't take salary and still owning company while renewing PR?


Thanks

[bro75]

I am not sure. We have heard from some that after a certain age, PR renewal is not required. It may be best for you to check with ICA to confirm this with emphasis on your being a PR under the PTS scheme.

[singaporeflyer]

I am not sure. We have heard from some that after a certain age, PR renewal is not required. It may be best for you to check with ICA to confirm this with emphasis on your being a PR under the PTS scheme.

PR Renewal is surely needed at ANY AGE. After a certain age, whether they need to be fully employed, is the question.

[sundaymorningstaple]

After the age of 55 if your PR is via Family Ties, you are not required to be employed to renew your REP. This much is fact.

However, at the time when I renewed my REP I was 57 but my REP had been expired for over a year but I had not left Singapore during that period so it was no issue. It was the officer at ICA who informed me that PR under Family Ties do not need to be employed after reaching 55. I was so relieved at hearing that, I completely forgot to enquire about those who were on PR under the PTS scheme. So, I believe you might want to give ICA a call and maybe they can clarify for you if you are on a PTS PR. I cannot help on the non-profitable business situation, however. Maybe Strong Eagle has more information on that as he was a PR and a business owner here before he returned to the US a couple of years ago. (he is still a moderator on the board as well).

For the record, PR is not renewed. Only the REP requires renewal. If your REP has expired, no big issue unless you leave the country without a valid one as that leaving without a re-entry permit is telling ICA you are giving up your PR. But in theory, you could spend the rest of your life here without a REP and still have PR. (When I had mine renewed at 57 I had not had a valid rep for 15 months).

[CashewNut]

I might be in a not too dissimilar position. Became PR in 2015 under the PTS scheme. REP due for renewal in May 2020. Been living in SG and earning and paying CPF throughout without interruption. Slight chance that i might lose job in December this year. If at the point of renewal i don’t have a job then i technically won’t be in gainful employment. Sounds like i shouldn’t have anything to worry about regarding REP renewal, but still feeling nervous....

[sundaymorningstaple]

As I said, I know what happens if PR is via Family Ties. But if it's via PTS, you may be required to be employed. I just don't know and will not hazard a guess as the wrong info could really be damaging. It would be worth it to call ICA (They are a pretty helpful bunch unless you are an overstayer).

[cathsg]

Thanks everyone. Nice of you sharing your inputs and suggestions. Appreciate your help. Have a nice week ahead