Singapore Citizenship Benefits

Being a Singapore citizen does not only have its benefits but also responsibilities, said Emeritus Senior Minister Goh Chok Tong as he presented 132 new citizens with their pink identity cards on a ceremony held last September. “While you enjoy the privileges of a citizen, you also have a responsibility to contribute to your new country, Singapore,” Tong said at the Annual National Citizenship Ceremony at the School of the Arts. “Your Singaporean friends and neighbors are also likely to appreciate, and reciprocate, your initiative to reach out to them. It is by building relationships with those around us that we show our care for our home and our community,” he added.

There are many benefits on being a Singapore citizen. These include ease of traveling with a passport, benefits of education, and so forth. A global ranking of countries according to the travel freedom (visa free access) their citizens enjoy—Singapore ranked 8th in the study, proving the high degree of travel freedom its citizens enjoy, according to the Henley Visa Restrictions Index 2006. You can also have more employment rewards when you have Singapore citizenship rather than only being a permanent resident (PR). Singapore business hires citizens rather than those who are only a PR. Plus, only Singapore citizens over 21 years old are eligible to buy and rent apartments from the Housing & Development Board (HDB). These include subsidized 2 rooms (1 bedroom + 1 living room), 3 rooms (2 bedrooms + 1 living room), 4 rooms (3 bedrooms + 1 living room), and 5 rooms (4 bedrooms + 1 living room).

Singapore citizens are also eligible to buy subsidized executive condos and studio apartments developed by the HDB. When HDB flats are being upgraded by the government, citizens pay only some fraction of the costs while PRs have to pay the entire cost of the upgrade. Better hospitalization and medical subsidies are provided for Singapore citizens. In general, Singapore PRs receive 10% less subsidies than those who are Singapore citizens. Singapore medical subsidies have changed to a “Mean Testing” system whereby each citizen pays according to their income. The Central Provident Fund (CPF) is a compulsory social security savings plan for citizens and PRs. Both employers and employees make monthly contributions of 14.5% and 20%, respectively, to the CPF, which is grouped into three accounts: Medisave Account, which is the savings that can be used for hospitalization expenses and approved medical insurance; Special Account for old age, contingency purposes, and investment in retirement-related financial products; and Ordinary Account in which the savings can be used to buy a home or pay for CPF insurance or investment. A Singapore citizen has also the benefit of the Edusave Scheme, which is a government initiative to maximize opportunities for all Singaporean students. This scheme awards students who excel in the academic and non-academic field. This scheme covers students who are Singapore citizens, studying in a government-aided or independent school, junior college, centralized institute, Institute of Technical Education (ITE), or special education school. The three divisions of the scheme are Edusave Pupils Fund, Edusave Grants, and Edusave Scholarships & Awards. When you are a Singapore citizen, there will be fewer problems on your company registration.