Hi,
I am planning to renounce my sg citizenship and withdraw my CPF next year. However, I am still having an outstanding study loan with DBS. Initially my plan is to use my CPF (approx 30k) to cover my outstanding loan (approx 20k) and live a life that I want. I want to find out the following from those who has renounced citizenship before:
1) When u renounce, do they make sure that u have no outstanding loan with any bank in sg? Otherwise, I would need to find someone to borrow that 20k to fully repay my loan, and return the money after I have got back my CPF. I have a little difficulties finding ppl to lend me that for 2 months.
2) I have asked ICA and the lady told me that they would allow you to stay in SG for a short time in order to "settle other stuffs". I guess it means "CPF withdrawal". How long does ICA give you to "settle stuffs"?
3) During the period of submitting renouncing request and the final approval of renouncing, are you okay to remain working?
4) My boss would always submit his portion of CPF one month later. That is, September's CPF would be contributed only in mid Oct. If I plan to leave in Sep 2010 (let's say), does that mean I need to stop working in Aug, unless my boss is willing to pay my full salary in cash?
Hope there is someone out there can help me out on this. Thanks in advance.
I am planning to renounce my sg citizenship and withdraw my CPF next year. However, I am still having an outstanding study loan with DBS. Initially my plan is to use my CPF (approx 30k) to cover my outstanding loan (approx 20k) and live a life that I want. I want to find out the following from those who has renounced citizenship before:
1) When u renounce, do they make sure that u have no outstanding loan with any bank in sg? Otherwise, I would need to find someone to borrow that 20k to fully repay my loan, and return the money after I have got back my CPF. I have a little difficulties finding ppl to lend me that for 2 months.
2) I have asked ICA and the lady told me that they would allow you to stay in SG for a short time in order to "settle other stuffs". I guess it means "CPF withdrawal". How long does ICA give you to "settle stuffs"?
3) During the period of submitting renouncing request and the final approval of renouncing, are you okay to remain working?
4) My boss would always submit his portion of CPF one month later. That is, September's CPF would be contributed only in mid Oct. If I plan to leave in Sep 2010 (let's say), does that mean I need to stop working in Aug, unless my boss is willing to pay my full salary in cash?
Hope there is someone out there can help me out on this. Thanks in advance.
