REP renewel if you are retired

[weezersg]

I am Malaysian Chinese 53yo. I have been in Spore since 1992 on EP for 1st 5 years and PR since 1997. Been self-employed in a partnership from 2004 till last year. Just recently my REP is up for renewal and they only approved for 1 year, previously always 5 years.

The business closed due to impact of covid, I have feeling I wont restart the business even till next year, I was wondering if they will approve my REP next year if I still put my status as unemployed.

I have bought a condo here and have savings and investment aside from cpf and intend to retire here. I feel I have enough to retire even if I dont ever work.

I wonder if there is an age where they will automactically approve your REP even if you are unemployed status due to retirement.

Anyone have been through this, conventional thinking or trend is 53 is too young to retire.

Anyone?

[sundaymorningstaple]

I believe 55 is the magic cutout date but I can vouch only for those who got their PR via the Family Ties Scheme. At the time I renewed my REP I was just 57 and had the same worries as I'd been between jobs for almost a year (not retired but unemployed). I held off getting a new REP for 15 months (never left Singapore so no issue there) until I found a new position. In the conversation I had with the officer I was informed that as I was over 55 and PR via Family Ties so it wasn't necessary to have a job as I had Permanent family here. I am not sure of the situation if you are here via PTS. I would think a call to them would be the smart things to do. Especially seeing your are from Malaysia, it doesn't make sense to have kept yourself as a PR all those years as anything over say around 5 years is kind of signaling you have no intentions of becoming a SGC. So, if you are no longer contributing via the means which you used to stay here (PTS) then they are giving you a year to either get your affairs in order or get another job. If you plan on retiring here, why haven't you applied for SGC years ago?

[feanor]

I believe 55 is the magic cutout date but I can vouch only for those who got their PR via the Family Ties Scheme. At the time I renewed my REP I was just 57 and had the same worries as I'd been between jobs for almost a year (not retired but unemployed). I held off getting a new REP for 15 months (never left Singapore so no issue there) until I found a new position. In the conversation I had with the officer I was informed that as I was over 55 and PR via Family Ties so it wasn't necessary to have a job as I had Permanent family here. I am not sure of the situation if you are here via PTS. I would think a call to them would be the smart things to do. Especially seeing your are from Malaysia, it doesn't make sense to have kept yourself as a PR all those years as anything over say around 5 years is kind of signaling you have no intentions of becoming a SGC. So, if you are no longer contributing via the means which you used to stay here (PTS) then they are giving you a year to either get your affairs in order or get another job. If you plan on retiring here, why haven't you applied for SGC years ago?

Perhaps you've mentioned it before in the forum, so I may have missed it. But it begs the question, why didn't you apply for SGC years ago?

[sundaymorningstaple]

Because I never planned to retire here. But due to unfortunate series of events in 2018 I lost my retirement home in the US and the country there has gone to shit. I have a SG wife 2 SGC children here both married and 3 SGC grandchildren. (I've been here 39 years) been a PR since '95 myself. I also couldn't see immigrating from a developed country (back then) to a developing country (but didn't realize my own country would be taken over by liberal socialists and dragged down to 3rd world levels. Schooling is why I initially made the decision to stay at least till the kids finished school as the US public school system is completely broken. After 39 years, all my family is here now. I have actually been entertaining the idea of SGC since last November to tell the truth, but is a psychological huge step.

[xingfu]

If OP can retire without ever working, would it make sense for him to pay himself a salary and contribute to cpf from his partnership? In that way he can be an employee when renewing REP instead of unemployed. Does ICA make a distinction between a zero revenue partnership and a revenue generating partnership for purpose of rep renewal if u are drawing a salary?

[Addadude]

[quote=sundaymorningstaple I have actually been entertaining the idea of SGC since last November to tell the truth, but is a psychological huge step.
[/quote]

Me too. Similar psychological hurdle. But I also wonder if my application would have a chance since the gahmen may view me as too old and likely to be a future burden.

[sundaymorningstaple]

https://www.ica.gov.sg/reside/citizenship/apply

You would have to apply under #2 I'm guessing. I'd say you have made some long lasting good contributions to Singapore. And you have also been married to a local for donkey's years like I have.
I would be applying under #5 and reckon I'd probably have a reasonably good chance.