CPF Withdrawal: 2 Ways

Can someone please tell me where we go to to apply for renouncement of our Singapore citizenship? Thanks heaps.

Application to renounce of Singapore Citizenship

You MUST a Citizen of another country first before you can even give it up.

The process is about 6 to 8 weeks upon reciept of application. So in order to answer whether it is hard or easy, depends on where you stand. You can wait until about you are to die to get the money or you can wait 6 to 8 weeks to get your money.

Follow the following link:
RENUNCIATION OF SINGAPORE CITIZENSHIP
for information how to renounce it. Follow procedures exactly

By the way to those who wish to return to Singapore as a Pernament resident or Citizen, you must pay back every cent that you have withdraw from the CPF.

It is better to renounce it and come back as a "Foreign Talent" and get paid something like a 6 figure salary.

In addition follow this link for application to CPF to withdraw your money
http://mycpf.cpf.gov.sg/NR/rdonlyres...21/0/CPFLM.pdf

Does anyone know whether there's a tax imposed when we draw CPF money and leave Singapore for good?
I heard in some countries, the govt will consider the money you take from retirement acct as income and thus taxable... not sure here. Thanks.

Yes, some countries do consider your superannuation as income and thus taxable. You will be needing to find out the tax laws of different countries to find out.

What do you prefer? To pay the tax and get your money or not to get your money at all? None of the Singaporeans will get to see their money at all. A few miserable hundred dollar every month, it is not enough to buy peanuts in Singapore!

I say CPF is offering quite attractive interest in today's environment. So leave it there unless you are in need of money like I do. Bottom line, leave Singapore and draw down your own money. The question is when. The minimum sum scheme is designed to let you feed yourself in old age. So any old age withdrawal by renunciation of citizenship is definitely welcomed in the context of Singapore. I wonder why we pay our taxes for?

Does anyone know whether there's tax imposed on remittance of CPF to UK? Thanks.

I don't think CPF will allow you to remit your CPF money directly from your CPF accounts. If somehow you can withdraw from your accounts in cash, then you can remit to wherever you want. The usual remittance fees apply of course.

We've decided to renounce and get all our Cpf money in cash. Maybe after a few years, we'll come back as foreign talents!

This is a strange country- foreigners are first class, PRs are second and born-and-bred locals are lowest class! My husband and I want to be first class. Heehee.

Originally Posted by Kan--

Application to renounce of Singapore Citizenship

You MUST a Citizen of another country first before you can even give it up.

The process is about 6 to 8 weeks upon reciept of application. So in order to answer whether it is hard or easy, depends on where you stand. You can wait until about you are to die to get the money or you can wait 6 to 8 weeks to get your money.

Follow the following link:
RENUNCIATION OF SINGAPORE CITIZENSHIP
for information how to renounce it. Follow procedures exactly

By the way to those who wish to return to Singapore as a Pernament resident or Citizen, you must pay back every cent that you have withdraw from the CPF.

It is better to renounce it and come back as a "Foreign Talent" and get paid something like a 6 figure salary.

If you are rich and influential, you are first class no matter where you are.

The problem with Singapore is that there are many people like you who perpetually feel shortchanged and are never satisfied.