{"id":37240,"date":"2014-07-15T03:49:39","date_gmt":"2014-07-15T07:49:39","guid":{"rendered":"https:\/\/www.escapeartist.com\/?p=37240"},"modified":"2021-03-02T15:46:38","modified_gmt":"2021-03-02T20:46:38","slug":"singapore","status":"publish","type":"post","link":"https:\/\/www.escapeartist.com\/blog\/singapore\/","title":{"rendered":"Singapore"},"content":{"rendered":"
Singapore is a highly desirable Southeast Asian city-state with a booming economy, a diverse mix of cultures, English as a primary language, and some excellent working and investing options for expats looking to move abroad.<\/p>\n
Singapore has a bustling metropolitan area and beautiful beaches<\/a> around the coast. Temperature generally ranges between 73\u00b0F to 89\u00b0F. And with a mix of Chinese, Malaysian, Indian, and European residents, the culture, art, and food scene in Singapore is the best kind of melting pot.<\/p>\n <\/p>\n According to the\u00a0Global Peace Index of 2017<\/a>, Singapore<\/a> ranked as the 21st safest country in the world. The country scored relatively poorly in the categories of Military Expenditure, Weapons Imports, Incarceration, and Security Officer & Police. In contrast, almost all other categories showed impressive data. Singapore scored very highly in the categories of Homicide, Access to Weapons, Intensity of Internal Conflict, Violent Crime, Terrorism Impact, Neighboring Countries Relations, and Deaths from External Conflict.<\/p>\n <\/p>\n In order to\u00a0live abroad in Singapore\u00a0<\/a>beyond the standard 90-day visitor visa, you will need to eventually obtain permanent residency. This can be done gradually while working under an Employment Pass or immediately with substantial investment into the country using the Global Investor Programme (GIP).<\/p>\n To apply for this permanent residency through employment, applicants must provide the following documents, in original form and in English:<\/p>\n There are a few very attractive benefits offered to expats who can secure permanent residency abroad in Singapore:<\/p>\n <\/p>\n As an economic powerhouse in Southeast Asia,\u00a0Singapore openly welcomes foreigners willing to work abroad in the country<\/a> through a wide variety of work permits. The most common is the Employment Pass, given to skilled and educated foreigners who were hired by a Singaporean company.<\/p>\n This permit will legally allow you to live and work in Singapore, dependent on the duration of your employment. There are three main subcategories associated with the Employment Pass:<\/p>\n Another option of working abroad in Singapore is by obtaining what is known as an\u00a0S Pass<\/b>. The S Pass is geared towards technicians in the industries of electronics, chemicals, marine, engineering, or construction. This is aimed at able workers with less qualifying skills than those applying for the Employment Pass (or the even more exclusive Personalized Employment Pass). The permit is:<\/p>\n The hiring company must pay a monthly levy, meet quotas, and buy insurance for holders of this permit.<\/p>\n A final option for working abroad in Singapore is the Asian Work Permit. This permit is specifically aimed at low-skill foreigners coming from other Asian countries (specifically India, China, Malaysia, Bangladesh, Thailand, and Hong Kong). The details of this Work Permit are nearly identical to the S Pass, with the addition of the following criteria:<\/p>\n Singaporean companies hiring employees under the Asian Work Permit must provide health insurance up to $11,000 USD. They must also pay a monthly levy per employee, averaging around $300 USD. Processing for this Work Permit can take as little as 1 day, once the hiring company has been exhaustively approved by the government.<\/p>\n <\/p>\n Retiring in Singapore\u00a0<\/a>can be a bit difficult. Unlike other countries in the area, Singapore does not offer an incentive-based retirement visa for expats. This means the likely route to retire abroad in the country would be through permanent residency gained either through previous employment in the country, substantial investment into the country, or marriage to a Singaporean citizen or permanent resident.<\/p>\n <\/p>\n For high net worth foreign investors looking to obtain immediate\u00a0permanent residency in Southeast Asia,\u00a0Singapore\u2019s Global Investor Programme (GIP)\u00a0<\/b>is a great option<\/a>.\u00a0Expats can choose to invest in venture capital funds, an existing company in Singapore, or a new company in fields including alternative energy, electronics, healthcare, aerospace engineering, education, media and entertainment, nanotechnology, natural resources, and space. The minimum investment price is $2.5 million SGD ($1.85 million USD). Unmarried dependents and spouses can achieve permanent residency after the applicant\u2019s GIP has been received. Parents of the PR holder can be added to the residency program for an additional investment price of around $220k USD per parent.<\/p>\n If starting a business is your investment method of choice in Singapore, after submitting the initial GIP application, you will need to present a 5-year business plan of financial projections and\u00a0meet these projections within your first five years of investment<\/i>.<\/p>\n If, instead, you want to invest in an existing company in Singapore, the applicant will need to prove the following:<\/p>\n <\/p>\n For information about moving yourself or your company to Singapore, you can contact us HERE.<\/a><\/strong><\/p>\n Enjoy this podcast from The Expat Money Show<\/a> – Gunnar Garfors<\/a> – visiting every country in the world twice!<\/strong><\/p>\n I hope you got great value from this article: Singapore. With so much to offer, it’s really worth a close look. Here are some articles on Singapore I think you’ll like:<\/strong><\/p>\n Residency Options in Malaysia<\/a><\/strong><\/p>\n Hong Kong or Singapore: Where to Register Your Company? <\/a><\/strong><\/p>\nSafety for Expats<\/b><\/h2>\n
Residency Options in Singapore<\/b><\/h2>\n
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Working Abroad in Singapore<\/b><\/h2>\n
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Retiring in Singapore<\/b><\/h2>\n
Investment Opportunities in Singapore<\/b><\/h2>\n
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