For those drawn to living overseas, Singapore is one country that’s definitely worth considering. Known for its year-round glorious weather, not to mention Singaporean’s openness to expats, this country is the perfect spot for any expat wishing to start a new adventure. With that in mind, here are some alluring reasons to consider relocating to Singapore today.
Incredible Business Opportunities
Whether you run your own ship or you’re after a job with an existing company, Singapore has a thriving business environment that’s sure to work in your favour. The country has a highly motivated and educated workforce. This means finding top talent won’t be too much of an issue. What’s more, moving your company there is a straightforward process.
It’s easy to obtain a work permit in Singapore. Simply fill out an online form and wait a couple of days for your decision. Because Singapore only has a population of five million, this leaves the country hungry to bring in foreign talent. Job security will be at the top of your list, so you’ll be happy to know Singapore is a business hotspot that brings in entrepreneurs from all four corners of the planet.
Attractive Housing Options
Arguably the most important question of all for those looking to relocate to Singapore – where are you going to live? Whether you’re planning to move to the country alone, with a partner, or as a family unit, you may want to take out a mortgage for a property.
If you are wishing to buy private property in Singapore, banks or other financial institutions are the only viable options for financing a mortgage. Check out PropertyGuru where you can compare home loans. They can help you secure the best rates and guide you through the home loan application process. Understandably, taking on a mortgage is one of the biggest life purchases you’ll ever make. For that reason, don’t rush into the process. Instead, take your time to look at the options available to you and what financing support you can get. There are popular neighbourhoods in Singapore that are catered to expats, like Holland Village.
Low Tax Rate
Let’s be honest – who likes to pay a ton of tax? No one! Unlike many parts of the world, Singapore’s personal tax system is significantly simpler. The process requires individuals to pay a nominal tax rate. However, the amount you pay will depend on your annual income. For those who earn less than $22,000 per annum, you won’t have to pay anything in taxes, while for those earning above $320,000, you will have to pay 20%. The tax rate for non-resident individuals is currently 22%.
Investors and entrepreneurs all over the globe are consistently drawn to Singapore’s attractive tax rates. You can also benefit from tax relief measures and no capital gains tax policies. If you’re keen to relocate, make sure to work out your tax rates before going any further.
Minimal Crime Rates
For those hoping to relocate to Singapore, you’ll want to know your safety and security aren’t compromised. Moving anywhere new can be daunting for all sorts of reasons. However, you’ll be glad to know Singapore ranked 8th on the planet for low crime rates in 2015. This is mainly down to the fact the country has strict punishments for drug offenses and bribery.
Singapore has a reputation for being one of the safest countries in the world. In fact, violent crime is rare. This means if you are hoping to bring your family over or start your own, you can be confident in the knowledge you’ll be in a safe environment. Like with anywhere in the world, some parts of Singapore are safer than others so bear this in mind when hunting for accommodation.
Outstanding Education System
Thousands of families make the decision every year to relocate to Singapore. If you have young children, it’s natural you’ll want to invest in their education and development to ensure they get the best of the best. When it comes to Singapore, the government spends a huge chunk of money on education. Singapore is an excellent place for those interested in continuing their education too.
Singapore is widely renowned for its high quality of education in the world. In fact, the country ranks higher than countries like Switzerland and Canada. Singapore’s school system concentrates on teaching specific subjects and a range of transferable skills like problem-solving. For those interested in graduate programs, there are government grants that are available to both international and domestic students too.
As Asia’s business epicentre, Singapore is consistently hailed as the land of opportunity. With hundreds of thousands of expats dotted across the country coming from all areas of the world, the reasons above make it easy to see why so many expats decide to relocate to Singapore and call it their new home.