With its harmonious blend of multicultural traditions and modernity, Singapore provides a distinctive experience for those who decide to make it their home. This nation facilitates unparalleled potential for personal and professional development.
In this article, we will cover the captivating reasons behind Singapore’s appeal to expats of all ages. Why is Singapore a good place to live? What are the benefits and risks of this dynamic hub? Let’s find out.
What are some attractive features of Singapore?
Singapore, with its fusion of vibrant cultures and technology, become the most sought-after choice for expats seeking growth and transformation. Let’s explore the reasons below.
Exciting social and cultural life
Considering a change of pace? Singapore might be the perfect destination for you!
The city’s vibrant multicultural scene offers a blend of diverse traditions, customs, and festivities from around the world.
For expats who appreciate art, Singapore is home to world-class museums, art galleries, theaters, and performance venues. You can easily explore the National Gallery, Esplanade – Theatres on the Bay, and festivals showcasing the works of various artists.
When it comes to cuisine, the city offers a wide range of selections, from local delights served at hawker centers like Hainanese chicken rice and laksa to international gourmet dishes at Michelin-starred restaurants. The cultural essence of Singapore is sure to enrich your unique expat experience.
High-quality education facilities
If you are an expat seeking exceptional educational opportunities for your children and family, Singapore presents numerous opportunities to both locals and foreigners.
Local public schools
Public schools offer a strong foundation in core subjects. Students are encouraged to participate in co-curricular activities to foster character development and well-roundedness.
International schools
Many of these schools follow recognized global curricula for students. Whether you prefer the International Baccalaureate (IB) program or a curriculum from your home country, these schools provide a seamless transition and maintain educational standards.
Private institutions
Singapore also has a selection of private schools and educational institutions that specialize in areas such as arts, music, or vocational training. These institutions provide unique learning opportunities for students with specific interests or talents.
A potential opportunity for education business
Given its high-demand market, strong government support, and solid technology foundation, Singapore represents a highly promising landscape for entrepreneurs looking to establish an ed-tech company. Find out more in our article.
English is the primary language of instruction in Singaporean schools, so there’s no need to worry about the language barrier. In addition, schools are well-equipped with modern facilities, libraries, and advanced technology to enhance the learning experience.
The Singapore education system is tailored to meet the needs of expat families and provide your children with a truly world-class education. It is, however, necessary to apply for a dependent pass if you wish to bring your family to Singapore.
Stringent health and safety measures
Ranked as the 6th best healthcare system in the world by the World Health Organisation (WHO), Singapore is renowned for its world-class standard of healthcare, accredited medical facilities, and highly-trained professionals.
As an expat, you’ll have access to a wide range of services, including public hospitals, private clinics, and specialized medical centers. Most employers will provide health insurance as part of the employment package, so there’s one less matter to worry about.
Additionally, Singapore is considered one of the safest cities globally. However, as a foreigner, you should exercise basic safety precautions such as being aware of your surroundings, avoiding isolated areas at night, and securing your belongings.
Vibrant economic landscape
Singapore’s strong and stable economy makes it an attractive destination for expats seeking new career opportunities.
The country’s adaptability and resilience, especially in the face of global challenges, have played a significant role in shaping its economy. Notably, the government has been actively promoting and investing in high-tech industries like artificial intelligence, blockchain, and clean energy, fostering innovation and entrepreneurship.
In the second quarter of 2023, Singapore also retained its position as the best business jurisdiction over the next five years, according to EIU’s latest business environment rankings.
Furthermore, based on advanced estimates by the Singapore Department of Statistics, the Singapore economy has grown by 0.7% on a year-on-year basis in the second quarter of 2023, faster than the 0.4% growth recorded in the previous quarter.
This positive growth trend indicates promising opportunities for expats in Singapore’s thriving economy.
Sustainable work-life balance
Singapore provides plentiful career opportunities for expats seeking sustainable career paths in the country. While these opportunities may come with demanding schedules, the Singaporean government and employers have introduced initiatives to support expat employees.
These include flexible work arrangements, telecommuting options, and compressed work weeks. Moreover, companies in Singapore prioritize employee well-being and mental health by providing counseling services.
As the city continues to evolve and innovate, life in Singapore remains enriched with benefits for expat residents.
Risks for Singapore expats to consider
Indeed, Singapore stands as an alluring destination for expats, showering them with a wealth of advantages. However, it would be remiss not to acknowledge the existence of certain setbacks.
High cost of living
From housing and transportation to daily expenses, Singapore’s modern amenities and lifestyle come with a price tag. You will need to adjust your budget to accommodate the living costs in Singapore.
Once you are willing to embrace the opportunities and manage your finances wisely, this country is an enticing destination with top-notch living standards.
Housing restrictions
Only Singapore citizens, permanent residents, and certain non-citizens such as selected professionals, are eligible to purchase HDB flats from the government.
While housing restrictions may pose some challenges for expats, Singapore offers a range of housing solutions to accommodate various budgets. Private residential properties provide flexibility and often come with desirable amenities, while rental options cater to those seeking temporary or shorter-term accommodation.
Work permit limitations
Depending on job roles, expats may encounter certain limitations or requirements related to work permits or employment passes.
One of the most common work permits for foreign professionals is the Employment Pass (EP). The EP is typically granted to skilled workers, managers, executives, and professionals with specialized expertise. However, there are specific criteria to meet.
To qualify for an EP, you must meet specific criteria, such as having a job offer with a minimum monthly salary of at least SGD 5,000 and possessing relevant qualifications. Once the pass is obtained, you can only engage in the job role stated. Additionally, renewal is required every few years. You will also have to maintain ongoing compliance with updated laws.
Despite the potential challenges that may arise, addressing these risks proactively will empower you to fully enjoy your new life in Singapore.
Having trouble obtaining your pass? Get the help you need from us!
BBCIncorp offers the full package to help you become an expat in Singapore without going through the complex procedures. Contact us for more information today!
Tips on living and working in Singapore as an expat
As you prepare to move to Singapore, various factors need to be taken into consideration, including obtaining the appropriate permits and planning your finances.
Working considerations
What are the questions to keep in mind when aiming for a career in Singapore? Here are a few essential steps to secure your professional life.
Obtain a job offer
The most common way for foreigners to move to Singapore is through employment.
Having a job lined up in advance increases your chances of obtaining a work pass as well as facilitating the visa application process. This is because your employer is likely to file your application on your behalf.
You should, however, do some research on the application process and eligibility requirements for the necessary pass in case you must apply on your own.
Apply for a work visa
If your employer does not handle the visa application, you can apply for your own pass through the Ministry of Manpower (MOM) website.
Depending on your nationality, purpose of stay, and qualifications, you will need a particular Singapore work pass. Some applicants may even have to undergo an additional medical examination or obtain a police clearance.
Read all about the Singapore work permit and other work passes in our dedicated article, from eligibility requirements to the application process and more.
Most importantly, you must always update the latest information on the official Singapore government websites or consult with your country’s Singaporean embassy/ consulate before making any plans.
Living considerations
From accommodation options to healthcare services, understanding the facets of daily life will contribute to a positive expatriate experience.
Plan your accommodation
Singapore is known for its diverse range of housing options. To benefit from this system, you must do some comprehensive research to find a suitable option based on your preferences and budget.
You can choose to rent a room, stay in serviced apartments, or explore other housing options based on your preferences and budget. In most cases, expats tend to rent apartments or condos to save up on the high living expenses.
Another affordable option is using Housing Development Board (HDB) flats, which are public housing units run by the government.
Purchase healthcare and insurance
To avoid unfavored expenses, before arriving in Singapore, make sure to purchase a comprehensive health insurance plan that covers your medical needs.
Additionally, if you are moving for employment, remember to inquire with your employer about health insurance coverage provided as part of your benefits package.
Those who are seeking permanent residence in Singapore, or planning to hire native employees, must also be familiar with the Singapore Central Provident Fund (CPF).
What is the Singapore CPF?
The Central Provident Fund (CPF) is a comprehensive social security savings plan in Singapore that provide financial security for Singaporeans in their retirement, healthcare, homeownership, and other important life events.
Only Singaporeans and Permanent Residents are entitled to contribute to CPF monthly.
Additionally, take the time to identify nearby healthcare facilities, such as hospitals, clinics, and specialists, in the neighborhood where you plan to reside. Having this knowledge will prove invaluable in case of a medical emergency or regular check-ups.
Manage financial matters
As a foreign individual residing in Singapore, you need to keep close track of your financial situation. One of the first tasks to tackle is opening a local bank account, preferably one with online banking. This will provide you with better control over your finances.
With our intensive banking services, you can effortlessly establish a Singapore bank account at a reasonable price, accompanied by additional features to facilitate smooth management. Get in touch now!
Choose a bank that offers various account types, with ATMs and branches nearby. Note that you may be asked to provide your passport, or work permit in order to open an account. To stay compliant, familiarize yourself with Singapore’s banking laws.
After knowing why Singapore is a popular destination for expats and the process of becoming one, why wait any longer? The time is right for you to settle in Singapore and take advantage of its strengths!
Conclusion
In short, becoming a Singapore expat offers a wealth of opportunities. While challenges may exist, thorough preparation and determination will pave the way for your rewarding journey here.
With the helpful information we have provided, you can confidently embrace the multicultural environment of Singapore by weighing the benefits and risks while following the steps outlined.
For more assistance on relocating to Singapore as an expat, please leave a message at service@bbcincorp.com, and we will get back to you as soon as possible!
Disclaimer: While BBCIncorp strives to make the information on this website as timely and accurate as possible, the information itself is for reference purposes only. You should not substitute the information provided in this article for competent legal advice. Feel free to contact BBCIncorp’s customer services for advice on your specific cases.
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