Why relocate to Singapore?
Singapore is much more than a modern metropolis with a significant economic, political and cultural centre. In fact, it is a place unlike anywhere else in Southeast Asia and boasts a population size of 5,866,692 people coming from many different backgrounds to live and work on a bustling island. As a major expat destination and Asian business hub, we ask what is the driving force behind tax professionals making a move to this island economy.
1) Easy to relocate
In contrast to other developed nations, the process for moving to Singapore is considered relatively easy by comparison. The Visa application process usually takes between six to eight weeks. In Singapore, it can take as little as one day, depending on an expat’s nationality, salary and qualifications. By applying its immigration-friendly policy, the island nation attracts many professionals from all over the world. For the most up-to-date information about the different Visa types, please visit the Singapore Ministry of Manpower website.
2) Build a strong career
If you dream about having a strong tax career and a highly competitive salary, then Singapore is right for you. With its rapid economic growth and development of new sectors, Singapore takes the second position in a global competitiveness survey.
Businesses and entrepreneurs there are highly valued and are often subsidised by the government. The demand for skilled workers is huge. Singapore has become a home to some of the world’s biggest companies and has the highest percentages of millionaires worldwide. A place, where passion and possibilities meet!
3) Low Tax Rate
Relocating to Singapore for career purposes? You should know that Singapore’s personal income tax rate is one of the lowest in the world. The tax system is significantly simpler compared to other countries, where individuals are required to pay a nominal rate ranging from 0-20%, depending on the level of income. Those earning less than $22,000 per year pay nothing in taxes, while those earning over $320,000 per year pay 20%. For more information visit this Singapore Personal Income Tax Guide.
4) Entertainment
Singapore is a non-stop place for entertainment. There is always something you can do or see, regardless of the length of your stay. You can choose from art galleries and museums to a local theatre to pop concerts and gigs. The island nation maintains a wide range of family-friendly attractions and nice public places that make your stay there worthwhile. If you enjoy a little retail therapy, Singapore offers many high-end shopping malls for you to spend your free time. You can find more information about all attractions and activities in Singapore on TripAdvisor.
5) Transportation
On a daily basis, people move around Singapore using excellent public transportation. Owning and maintaining a car can be challenging with car owners facing multiple regulations designed to maximise the limited space in the city. Expats find the initial and the recurring costs substantial, which is why they benefit from the well-developed and highly affordable public transport system instead.
Singapore has invested largely into the development of a fast and effective means of transportation for its citizens. The metro system is considered as the most extensive and reliable one in the whole region with more than 140 stations available. Although the metro system in Singapore has undergone many improvements over the last years, the bus transportation remains the most preferred option for citizens.
Top Five Places to Live in Singapore
Holland Village
Holland Village is popular amongst expats, providing easy access to International schools, Orchard Road and the Botanic Gardens. Property prices and types vary from landed properties to modern high-rise condos. The local MRT station allows the likes of Ion Orchard and the city centre to be reached in ten minutes. An array of laid-back restaurants, cafes and bars make this location a great place for young professionals. With close proximity to schools and green space, this area is full of young families. Private shuttle buses are provided by international schools allowing children to easily reach campus. At weekends the main streets are limited to foot traffic only, creating a safer and quieter environment.
This sought-after location provides easy access to Tanglin Club and Hollandse Club, both private members clubs with large expat communities. Hollandse Club is an international sports and family members club. It provides a space to play sports or relax and unwind. Some sports on offer include hockey, squash and dance. Tanglin Club is home to over 4000 members from 70 countries and sports such as swimming, tennis and a gym are available. Private boutique gyms and fitness studios can also be found along the streets of Holland Village. It is clear that the Holland Village has plenty of things to do and is a very social meeting ground for tax professionals to socialise together.
Orchard Road
At the centre of everything is Orchard Road. This expat favourite gives residents the opportunity to be spoilt. With some of the best shopping in the world, an extensive number of restaurants, world-class hotels and good nightlife, this is a dining and entertainment hub. While the area is expensive, neighbourhoods are surprisingly quiet and small apartments can be found for young professionals who want to live near the buzz of the city.
Money can be saved on travel costs with buses running along Orchard Road all day. Several MRT stations are also located in the area. For cars, roads are wide and the CTE is easily accessible. This prime location gives access to the city’s international schools. World-class medical assistance can be reached at Gleneagles Hospital and Mount Elizabeth Hospital. The American Club, a membership club in partnership with Stamford American International school means dining, fitness and leisure activities will be at your fingertips.
Tanglin
Located at the top end of Orchard Road is Tanglin. This prestigious area is home to a large number of embassies and luxurious homes. Low rise condos and large family houses with gardens can be found in the sophisticated area. The first place to be developed by British colonialists, it provides an escape from the bustle of the city and access to a good number of amenities. Local shopping centres host hawkers’ stalls and small cafes. There is a lack of public transport with no direct MRT to the town, however, Orchard Road is highly accessible as well as the AYE and city expressway. This residential district includes Singapore’s botanic gardens, top hospitals and the Tanglin Club. Homes are found on quiet streets allowing evening walks with children or dogs to be done so safely.
Serangoon
Serangoon will give you more for your money. This quiet neighbourhood is a popular place for families with school-aged children. Spacious houses and condos are situated near the Australian International School, French International School and Stamford International school. Access to the CTE allows other parts of the island to be reached within a short period of time and good public transport links are also on offer to get to the city centre, including Serangoon MRT station. Located next to NEX shopping mall, retail therapy is on your doorstep as well as great food. Bishan park is another great place to spend your weekend mornings cycling, walking or running. Serangoon provides a good balance of expats and locals looking for affordable homes.
Sentosa
If you’re wanting a feel of island life Sentosa may be the place for you. Luxurious properties line the seafront where views of the Southern sea can be found. With the beach only a short drive away tourists do not occupy the residential part of the island. Access to the golf course as well as the island’s attractions are bound to fill your weekend. This exclusive neighbourhood is a step away from Singapore’s largest shopping mall, Vivo City and the suburban green neighbourhood of Faber Park. However, if you have children this may not be the best location for you. The island is hard to access by car during holidays due to the amount of traffic. Reaching some of Singapore’s best international schools could therefore be extremely time-consuming.
Useful Online Networking Sites and Blogs
Social Networking Groups
Social networking groups in Singapore will allow expats the opportunity to meet potential friends, play sport and participate in business networking. The website below allows individuals to join online networking groups ranging from social clubs to professional networking.
As Singapore is such a culturally diverse place you are bound to find someone from a previous home or country. These links will allow you to reach out to people of the same nationality or that you may have common interests with:
Contact the British expat community:
Contact the Australian expat community:
Contact the American expat community:
Contact the Indian expat community:
Contact the Irish expat community:
Blogs
Below are some websites that share stories, experiences and suggestions written by current expat communities in Singapore.
Here, a mother of one shares her personal experiences of life in Singapore from a mother’s perspective.
This easy to use blog and website provides information for families on everything from international schools and furniture shops to mini breaks and staycations for the whole family.
Families and individuals share their experiences as they adjust to life in the busy city.