I have met many over the years and asked the same question. And the answers are varied and 99% of the time it does make sense. Here are some examples
For holding on:-
1. The world is my oyster lot - this group are usually well educated and well travelled, usually in business and really know their stuff. They also can differentiate facts from myth. They also have no issues being Singaporean but have decided to broaden their options and usually driven to educate their children overseas. The CPF is usually small compared to other assets. Lots of retirees in this group and usually ex-civil servants, teachers etc with and without pension.
2. Singapore females - either married to a foreigner or went to study and then work overseas. This is arguably one of the biggest groups. Many are from the 70s and 80s and like Malaysians during that era went to do nursing, physiotherapy, law, social sciences, beauty and cosmetics courses etc. They remained but many do the annual pilgrimage home to visit family and relatives. This lot again has no push factors from Singapore, just grabbed opportunities that were available overseas. They see no reason to give up their citizenship as they have no CPF and enjoy the perk of dual citizenship.
3. Kiasu - not many but usually unsure of themselves and the long term prospects in a new country. Some are also unsure of things like local inheritance laws and afraid that they cannot inherit HDB flats or landed properties if they are no longer Singapore citizens. Also includes ownership concerns in certain businesses. They are also unfortunately not conversant in tax and other laws in their new country and struggle to repatriate their assets in later years.
For not holding on:-
1. Need the CPF lot - over 95% of Singaporeans are in this category. To buy the new home, fund their new adventure and seek better investment returns. Many would love to hold on to their SG citizenship if given the chance.
2. The world is my Oyster - again surprisingly the same attributes as those who hold on but in their case they want to move on and not dwell in the past. Absolutely delighted and confident of their future. Nothing against Singapore.
3. Bitter lot - this lot you can spot a mile away. Really angry and every discussion and comment is laden with outright criticism or sarcasm related to Singapore. They can range from the highly educated to those who are not. Usually the husband. All his friends and others attending a gathering will normally let this individual to speak and exhaust himself. And funnily it is not about politics. Mr Grump will probably have gripes about everything else outside Singapore as well.
4. Disciplinary/Criminal record back home lot - they just want a clean start or to wipe away bad memories. Usually reticent in group gatherings. The spouse will usually explain and most people are aware.
5. NS Liability lot - use to be big in the early years and wrongly assumed that their their male child will no longer be liable for NS if they give up SG citizenship. Only realise that they cannot renounce for their kids. But also not aware of the proper procedures.
For holding on:-
1. The world is my oyster lot - this group are usually well educated and well travelled, usually in business and really know their stuff. They also can differentiate facts from myth. They also have no issues being Singaporean but have decided to broaden their options and usually driven to educate their children overseas. The CPF is usually small compared to other assets. Lots of retirees in this group and usually ex-civil servants, teachers etc with and without pension.
2. Singapore females - either married to a foreigner or went to study and then work overseas. This is arguably one of the biggest groups. Many are from the 70s and 80s and like Malaysians during that era went to do nursing, physiotherapy, law, social sciences, beauty and cosmetics courses etc. They remained but many do the annual pilgrimage home to visit family and relatives. This lot again has no push factors from Singapore, just grabbed opportunities that were available overseas. They see no reason to give up their citizenship as they have no CPF and enjoy the perk of dual citizenship.
3. Kiasu - not many but usually unsure of themselves and the long term prospects in a new country. Some are also unsure of things like local inheritance laws and afraid that they cannot inherit HDB flats or landed properties if they are no longer Singapore citizens. Also includes ownership concerns in certain businesses. They are also unfortunately not conversant in tax and other laws in their new country and struggle to repatriate their assets in later years.
For not holding on:-
1. Need the CPF lot - over 95% of Singaporeans are in this category. To buy the new home, fund their new adventure and seek better investment returns. Many would love to hold on to their SG citizenship if given the chance.
2. The world is my Oyster - again surprisingly the same attributes as those who hold on but in their case they want to move on and not dwell in the past. Absolutely delighted and confident of their future. Nothing against Singapore.
3. Bitter lot - this lot you can spot a mile away. Really angry and every discussion and comment is laden with outright criticism or sarcasm related to Singapore. They can range from the highly educated to those who are not. Usually the husband. All his friends and others attending a gathering will normally let this individual to speak and exhaust himself. And funnily it is not about politics. Mr Grump will probably have gripes about everything else outside Singapore as well.
4. Disciplinary/Criminal record back home lot - they just want a clean start or to wipe away bad memories. Usually reticent in group gatherings. The spouse will usually explain and most people are aware.
5. NS Liability lot - use to be big in the early years and wrongly assumed that their their male child will no longer be liable for NS if they give up SG citizenship. Only realise that they cannot renounce for their kids. But also not aware of the proper procedures.
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