Becoming an SG PR is one step towards becoming an SG citizen.
Years ago, when I had relatives still working and residing as SG PR in Singapore, they used to mention how Singapore would offer them SG citizenship conversion from an SG PR after long periods of contributing to the Singapore economy.
Today, although such offers rarely exist anymore, successful SG PRs still have an elevated chance to obtain citizenship if they opt to convert.
In my previous article, I talked about how becoming an SG PR and eventually a citizen, unlocks certain financial benefits and perks to eventually settling down comfortably in Singapore.
Although it’s pretty straightforward if you are certain of calling Singapore home, here are some concerns that you should take note of before swearing unwavering allegiance to Singapore.
4 Key Considerations for SG PRs considering to become a Singapore Citizen
1. Not allowed to own oversea properties if you plan to buy a government housing ????
The game plan to settle down in Singapore for the long term is straightforward. Either one of the spouses (usually the wife) converts to a Singapore citizen and pays a lower ABSD for an HDB or BTO.
The caveat is that the owner or owners of the HDB cannot own properties in other countries prior to buying an HDB. The logic is straightforward – public housing is for those who can afford and require it, not purely for those who can afford it.
Since Malaysian properties are pretty cheap relatively, most working Malaysians could have purchased a property after working for a few years.
The headache will slowly build up till the stage when PRs reach the age for family planning in a high interest-rate environment like now. If staying put in Singapore is the plan for the next 20-30 years, getting a house is better than paying rent for the next 30 years.
So do ponder on that property that you might have in Malaysia, and your plans on staying put in Singapore for the long term via owning a HDB.
You can only choose one.
2. Retiring back in Malaysia with your hard-earned Singapore Dollar ????/????
This point coincides with point 1.
Forsaking your Malaysian citizenship would grant you benefits and advantages in trying to settle down in Singapore in the early phase.
However, when you hit retirement age and want to enjoy a more comfortable and quality retirement life in Malaysia, here is where you might hit a road bump.
There are ways for converted Singapore Citizens to retire back to Malaysia, under the Malaysia My Second Home initiative (MM2H), so long as you are a Singapore millionaire with:
- Liquid assets of MYR 1.5 million
- Offshore monthly income of MYR 40,000 (MYR 10,000 for retirees)
- Fixed deposit with a Malaysian bank of MYR 1 million
As a converted SG citizen, it’s not about how little you need to spend your retirement life back in Malaysia, but whether you tick all the boxes to be welcomed back as a retiree. You easily would need to be a millionaire in Singapore dollars to tick all the boxes.
Even if you do tick all the boxes, with that amount of wealth, retirement in Singapore would be rather comfortable as well.
3. Clearing both customs via the automated lane in a blink of an eye ????
Just to emphasize, this benefit only applies to airports most of the time and occasionally at CIQ and Sultan Abu Bakar Immigration (Malaysia’s 2nd link custom clearance).
Singapore’s automated lane clearance has witnessed significant improvements over the last 7 years.
As someone who uses the custom clearances at least once a month, I can attest to that.
Where else for Malaysia, things remained almost unchanged for the last 7 years. Which is bad. Automated lanes are still reserved only for Malaysian citizens, PRs, and long-term pass holders.
Having a Malaysian passport gives me temporary joy when I arrive at KLIA or KLIA2 during peak hours when the queue lines for visitors can be scaringly long. The automated lanes are seldom packed unlike CIQ and Sultan Abu Bakar immigration.
It would take some getting used to, from alighting from the plane to hopping onto a Grab in less than 30 minutes to possibly more than that if you plan to travel back to Malaysia often as a Singapore citizen!
And yes, it is faster than MACS 2.0, as the number of lanes for MACS 2.0 is limited.
4. There is no turning back ????
If determining where to settle down boils down to just pure numbers and finances, there isn’t much to ponder or compare.
Money can buy happiness if you have the financial power to uproot and bring over your entire family here.
But if you are not that capable, aspects and considerations that are non-monetary could haunt you.
- What if there is a sudden responsibility to care for your ailing parents back in Malaysia?
- What if you are involved in a long-distance relationship and your other half is finding it hard to job hunt in Singapore?
- What if, the Singapore dollars in your bank account, can’t buy you the simplicity and bliss that your hometown offers?
These aspects might not be weighed upon when contemplating your nationality switch.
But once you pushed the conversion button, there is really no turning back.
The crossroads of every Malaysian Singapore PR
Just like the other Malaysian Singapore PRs, I believe my concerns strike the same chord on the crossroads that we face right now.
The fact that many Malaysians choose to traverse the borders daily to earn a living in Singapore, yet to be home with their families every evening back in Johore, shows that these are sacrifices they are willing to make to enjoy the best of both worlds.
Sadly, not all Malaysians are blessed to call Johore their home to traverse back and forth frequently.
I for one, hail from the Northern part of Malaysia.
I spent collectively less than 10 days in my hometown of Taiping ever since I came to Singapore 7 years ago. I probably see my mum around 15 days a year, and my father less than 10 days a year.
The concerns mentioned are real concerns that have been haunting me much more frequently these days.
Either way, whatever happens, whichever road is taken, 20 years from now,
I shall be telling this with a sigh
Somewhere ages and ages hence:
Two roads diverged in a wood, and I—
I took the one less/most traveled by,
And that has made all the difference.
Robert Frost
Other considerations are:
1. Your family & friends, especially your children. Are they SG or MY citizens where you likely want to spend time with them when you retired?
2. I supposed you would like to give your children a good education, and good career/job opportunities in a safe & stable environment. Which country is better?
3. I supposed you will park your retirement fund in a stronger & safer currency. Are there any cross-border transaction issues?
4. A minor point – which passport gives easier access to other countries?
The first two points are especially important and is easily overlooked.
After almost 20 years in Singapore, I can safely say I have more friends here than back in Malaysia. Likewise, my kids have a strong social network and are more Singaporean than Malaysian and most likely have no allegiance to Malaysia.
When my kids graduate and have families, despite best retirement plannings I am sure my wife and I will want to be near our grandchildren. And if I am admitted to the hospital, I also want to be admitted in Singapore so my kids will visit me.