There are several factors to consider when making the move from your country of residence to Singapore. Here is a general checklist to help you in your relocation journey to Singapore.
Singapore, also known as the Republic of Singapore or the Lion City, is an island, a modern cosmopolitan city and a country altogether. Made even more popular by the 2018 movie Crazy Rich Asians, Singapore remains a top attraction for tourists as well as one of the top places for expats to relocate to. If you are planning to relocate to Singapore, here are some things to consider before moving there.
Probably the most obvious first step of any moving trip is to conduct your research about the place or country you are moving to. Any place you relocate to will have a difference in culture and lifestyle, so make sure you find out about what moving to Singapore will be like before officially making the move. Find out about the culture, lifestyle, cost of living and everything relevant to your plans before moving
Singapore is one of the largest business hubs in the world, making it highly competitive in terms of professional career. If you are relocating with the hopes of finding a job, here are a few key elements to consider:
Industry: Singapore is known for its accounting, banking and finance industries as many local and international companies have chosen to establish their headquarters in the city-state. As one of the major banking and finance hubs in Asia, jobs in these related industries are highly competitive and they usually offer attractive annual package. Following those industries would be the healthcare, life sciences, information technology and legal industries. Other upcoming niche sectors are food bioscience and technology space, as Singapore is moving toward self-sufficiency and sustainability in agriculture and food.
Income: According to the World Data statistics, Singapore ranks 9th in the highest salaries in the world. The average annual package can go as high as 64k, but this figure also depends on the industry you work in. A similar figure is also calculated on the Ministry of Manpower’s website.
Employment/Work Pass: Obtaining a work pass is important as it will allow you to legally live and work in Singapore. If you have already secured a job prior to moving, check with your employer on your work pass and make sure that they are processing your application.
Like any relocation process, moving to a new country involves handling a significant amount of paperwork. However, determining the necessary documents for relocation to Singapore is typically a straightforward process.
Visa: For relocating to Singapore, visit the Ministry of Foreign Affairs website to get information on obtaining the relevant visa for your move to Singapore.
Work passes: Singapore has several types of work passes for foreigners looking to live and work in Singapore. Be sure to do your research prior to moving to find out which category of work pass you fall under and what are the steps to take to obtain the pass. For more information, visit the Ministry of Manpower’s website to get the full comprehensive list.
Being a small island city-state, land and housing is very expensive in Singapore. For Singapore citizens, the government lends support in the form of various subsidies, grants and upgrading programs to enable housing to be more affordable for citizens. For foreigners, however, there are certain requirements to follow regarding obtaining accommodation. Criterion such as type of employment, type of employment pass and types of housing are some of the factors to take note of when deciding on a new residence. You can refer to the Ministry of Manpower’s website on housing types and requirements for foreign workers to get a better idea of what you are eligible for. While researching, it is also important to consider relevant factors such as rent and location, as certain areas in Singapore are more expensive than others.
Read more on the best places to live in Singapore for expats.
If you are moving to Singapore with your children, it is vital to read up on the schools available for them to study in Singapore. The education system in Singapore is top-class, so rest assured that your children will be getting the level of education they need. Nevertheless, getting admitted into a school in Singapore comes with its admission requirements, which are a challenge in itself as there are admission tests for applicants to complete. If you are planning to enroll your child in a school in Singapore, please head to the Ministry of Education’s website to learn about the education system in Singapore and the requirements for getting your child admitted into a school in Singapore.
Additionally, your child might need to get a Student Pass if they are not on a Dependant’s Pass, so make sure to check beforehand.
As one of the top countries for being the most expensive in the world, finances must be properly taken into account. The cost of living in Singapore is extremely high, so it is of utmost importance to have a proper financial plan when living in Singapore. When opening a bank account in Singapore, your official Employment Pass is needed, along with your passport and company ID. Taxes in Singapore are determined on your income, but it is important to file your taxes every year before April. You can visit the IRAS website for more information on filing income tax. Additionally, it is important to have a Singpass account for filing income tax. A Singpass is a Singapore Citizen’s digital form of identification, but it is needed for the process of filing income tax.
In Singapore, the healthcare system is hailed as one of the finest in the world. With efficient service and world-class healthcare amenities, there is no shortage of finding good quality healthcare in the country. However, as an expat in Singapore, it is still recommended to stay covered with your own health insurance plan so as to avoid unnecessary trouble should a health crisis befall.
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