Exit Permit Bond

[anonym]

Have gotten a role overseas and so plan to relocate with my family and 2 boys.

The exit permit is higher of 75k or 50% of combined income. Which is alot of money for us to come up with.

Anyone got experience paying this? How to afford?

Since we don't have that kind of money lying around and its important to move for our future, my wife’s suggestion is to just leave and take another citizenship which they can qualify for. Means they cannot come back to SG forever but my wife is fine as most of her family is overseas.

any other solutions?

 

[reddevil0728]

Have gotten a role overseas and so plan to relocate with my family and 2 boys.

The exit permit is higher of 75k or 50% of combined income. Which means could be almost few hundred k in total for both.

Anyone got experience paying this? How to afford?

Since we don't have that kind of money lying around and its important to move for our future, my wife’s suggestion is to just leave and take another citizenship which they can qualify for. Means they cannot come back to SG forever but my wife is fine as most of her family is overseas.

any other solutions?

https://www.cmpb.gov.sg/web/portal/cmpb/home/before-ns/pre-enlistment-process/exit-permit-and-bond

"It is provided in the form of a Banker's Guarantee."

 

[anonym]

https://www.cmpb.gov.sg/web/portal/cmpb/home/before-ns/pre-enlistment-process/exit-permit-and-bond

"It is provided in the form of a Banker's Guarantee."

Yah asking bank, but they want security etc. Which we do not even have.

Knn bank, if so rich why still need them to come up with guarantee...

 

[reddevil0728]

Yah asking bank, but they want security etc. Which we do not even have.

Knn bank, if so rich why still need them to come up with guarantee...

What's their security requirement?

 

[anonym]

What's their security requirement?

Put the amount of money in the account lol!

Or find 2 person who can pledge for you...

 

[reddevil0728]

Put the amount of money in the account lol!

Or find 2 person who can pledge for you...

you don't have that much savings / other investments etc that you can pledge?

any unencumbered private property that you can potentially reverse mortgage?

also have you checked with MINDEF on your challenges?

but tbh, usually when it comes to such NS thingy, they tend to be super strict if not there will be a lot of slippery slope.

At the end of the day u really need to think super hard whether you want to put your kids into the situation where as much as it isn't necessary to come back to singapore, do you want to shut the door on them. and whether you want to give them the idea that they are "on the run" from singapore.

 

[anonym]

you don't have that much savings / other investments etc that you can pledge?

any unencumbered private property that you can potentially reverse mortgage?

also have you checked with MINDEF on your challenges?

but tbh, usually when it comes to such NS thingy, they tend to be super strict if not there will be a lot of slippery slope.

At the end of the day u really need to think super hard whether you want to put your kids into the situation where as much as it isn't necessary to come back to singapore, do you want to shut the door on them. and whether you want to give them the idea that they are "on the run" from singapore.

If have so much money to pledge, wont have this problem already. Wah how you can buy private property in SG without a mortgage?

as usual the poor get the short end of the stick here lol.

yes have to think hard. I did my ns and reservist so I did my part. Though my wife says the world is big, 99% of the world never step into SG also thrive.

was hoping someone could share their experience. but looks like have to make decision one way or another.

 

[reddevil0728]

If have so much money to pledge, wont have this problem already.

that's why there's the alternative of finding other ppl who can pledge on behalf ma

Wah how you can buy private property in SG without a mortgage?

Firstly why not?
secondly, unencumbered does not mean never take loan, but can also mean paid off.

as usual the poor get the short end of the stick here lol.

I don't think the "poor" actively seeks opportunity to go overseas to work....

yes have to think hard. I did my ns and reservist so I did my part. Though my wife says the world is big, 99% of the world never step into SG also thrive.

your wife has a point. but just just like making the decision to bring lives into this world, you also need to make the decision on how you the kids to feel. need to take responsibility for that.

was hoping someone could share their experience. but looks like have to make decision one way or another.

maybe someone might, but this forum is not frequented by everyone in singapore. so chances may not. be there.

 

[klavier]

Have gotten a role overseas and so plan to relocate with my family and 2 boys.

The exit permit is higher of 75k or 50% of combined income. Which is alot of money for us to come up with.

Anyone got experience paying this? How to afford?

Since we don't have that kind of money lying around and its important to move for our future, my wife’s suggestion is to just leave and take another citizenship which they can qualify for. Means they cannot come back to SG forever but my wife is fine as most of her family is overseas.

any other solutions?

Sorry dont really have experience with this but may I know how old are your boys?
Above 16.5 years?

I look at the CMPB website and somehow have the thinking that bond only required if you are getting an exit permit for more than 2 years (for 13-16.5 year old male)?