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Dual Citizenship / NS Obligations / HDB Flats and Migration

Discussion in 'Emigration Matters [no rep deductions]' started by scroobal, May 12, 2009.

  1. Charlie99

    Charlie99 Alfrescian (Inf)

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    I believe that the major obstacle NS.
    But, perhaps, the SG government will those who have served NS, and are past their reservist age of service to be dual citizens.
     
  2. scroobal

    scroobal Alfrescian Old Timer

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    http://m.todayonline.com/commentary/dual-citizenship-little-fear-much-gain
    "Third, dual citizenship would benefit the more than 200,000 Singaporeans based overseas, a number set to grow. Much like the PRs in Singapore, overseas Singaporeans are put in a tight corner when offered citizenship by their host country. By some estimates, we lose about 1,000 Singaporeans every year because of this. This may not seem like a big number in absolute terms, but in 2008 then-Minister Mentor Lee Kuan Yew shared during an interview that this group represented the “top end” of the population, making the brain drain a serious problem for Singapore."
     
  3. nayr69sg

    nayr69sg Alfrescian Old Timer

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    Yeah you know why? Because if all 200,000 were to withdraw their money from their CPF accounts, GIC will be in deep shit. Give a very very very very conservative estimate of each of those 200,000 having $100,000 in their CPF accounts = $20,000,000,000 ie $20 billion.What is Singapore's estimated reserves? According to a report by the Ministry of Finance, Singapore's official foreign reserves managed by the MAS totalled S$343 billion and Temasek's portfolio was S$223 billion as at 31 March 2014, while GIC manages “well over US$100 billion”.

    No joke ok if JUST those overseas decided to withdraw CPF. And likely the figure will be closer to $100 billion which is ALL of what GIC manages. Can you imagine what is left for the rest of the sinkies who remain in Singapore? LOL!

    Anyone who falls for this and keeps their CPF earning 2.6% interest and what not is a bloody fool.

    Renounce and take your CPF. There is no better course of action.
     
    Last edited: Jul 22, 2017
  4. nayr69sg

    nayr69sg Alfrescian Old Timer

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    I won't be surprised that they will cook up some cock and bull scheme with reasons to refuse to allow sinkies to renounce citizenship. Saying that dual citizenship is now allowed.

    That way no one can withdraw their CPF in full from then on and GIC can be assured no unexpected unplanned withdrawals are made and can "invest" more aggressively and LOSE more money.

    Better migrate fast get your new citizenships renounce and take out your CPF before you can no longer do so!
     
  5. bobby

    bobby Alfrescian Old Timer

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    That is a very real possibility.

    Don't ever forget that the CPF money is in an instituition governed and administered by the gahmen.

    it is and never was your money and they can do anything they want or need to hold it back.
     
  6. nayr69sg

    nayr69sg Alfrescian Old Timer

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    Well that's true until you get all the money in your foreign bank accounts changed to foreign currency.

    I have all my CPF money with me and it IS my money.

    Those sinkies still living in Singapore and have no chance of renouncing. Yeah too bad it isn't you money. LOL!

    Bobby is your CPF money your money already? Not yet? Never?
     
  7. bobby

    bobby Alfrescian Old Timer

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    Like yours...it is now in a foreign country :)

    What ever "above market" interest rates they claim to pay you does not beat the value and satisfaction you get by using the same funds to help buy a nice house to live in Australia.
     
  8. nayr69sg

    nayr69sg Alfrescian Old Timer

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    Congrats bobby! Have a good one!
     
  9. kingat33

    kingat33 Alfrescian Old Timer

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    you have to put back your CPF plus interest if you want back Singapore citizenship :*:
     
  10. nayr69sg

    nayr69sg Alfrescian Old Timer

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    And why would anyone want back that sinkie shitland shitizenship?
     
  11. bobby

    bobby Alfrescian Old Timer

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    The funny part is at the exit interview, they will ask you why you want to renounce and warn you that it is "irreversible".
     
  12. nayr69sg

    nayr69sg Alfrescian Old Timer

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    They never asked me why.

    But they said things like do you want grace period? 1 month? 3 month? 6 months? If renounce then it is very hard to get it back.

    I told them I flew all the way from Canada to Singapore to renounce! I want ZERO grace period. ASAP best!

    The whole "we will review to see if we will allow you to renounce" is ridiculous isn't it? They think they are like god? Give you life then it is not up to you to give it up?
     
  13. bobby

    bobby Alfrescian Old Timer

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    CPF really tried to make it difficult...asking ridiculous things like making your bank verify that the nominated account is yours and taking up to 3 month so that they can verify that this request is not a "fraud" by counter checking with all other relevant authorities.
     
  14. scroobal

    scroobal Alfrescian Old Timer

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    Used to be 3 working days. Turn up at CPF, queue and complete form 5 mins. 3rd day in your account in the foreign country via TT.

     
  15. scroobal

    scroobal Alfrescian Old Timer

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    CPF is a drop in the ocean from migrants. Its the number of quality people that live. They have also done their research and found the link goes into extended family and eventually most will leave. The correlation is strongest amongst siblings on both sides of the marriage as they are usually in the same zone in their life's journey.


     
  16. bobby

    bobby Alfrescian Old Timer

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    Should be the case.

    You would think that the letter of citizenship renounciation from ICA would suffice as an authority for CPF account closure.
     
  17. scroobal

    scroobal Alfrescian Old Timer

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    The good part is that you are not required put back into your CPF if you come back here to work. Just have to work a whole series of forms about yourself and your family history.

     
  18. scroobal

    scroobal Alfrescian Old Timer

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    I do recall that West Malaysians with PR here and CPF here are given lengthy withdrawal because some of them do show PR in new country but actually after withdrawal go back to M'sia.

     
  19. bobby

    bobby Alfrescian Old Timer

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    Come back as a PR...much better perks than citizens.
     
  20. nayr69sg

    nayr69sg Alfrescian Old Timer

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    If migrate already renounce citizenship and then still have to go back to sinkieland means really cannot make it! Might as well never have migrated!
     

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