Are you ready to act on a lifelong dream to permanently live abroad? Or are you becoming an expat on a whim? Regardless, Singapore is a prime city to call home. With beautiful weather, proximity to amazing cities and countries in Asia, and a safe environment, Singapore is a perfect place for a new adventure.
This small Southeast Asian island is right off the Malaysian peninsula with 3.5 million citizens and the second lowest crime rate in the world. Sounds great, right? Well keep reading to find even more reasons to apply for a permanent residency and make the move.
1. Travel To (And From) With Ease
If you have a thirst for adventure, you will find it easy to move in, around, and out of Singapore. The Mass Rapid Transit (MRT) and bus system are friendly, affordable transit methods to quickly zip around everywhere. Cabs in the city are also excellent options to get to remote locations in the city.
Singapore is also a central hub connected to many other locales in Asia, including Bangkok, Bali, Hong Kong, Kuala Lumpur, Jakarta, and Ho Chi Minh City. The Singaporean airport is also home to several budget airlines that will get you to new places at affordable prices.
2. Business Opportunities
Expatriates find Singapore an excellent place to run a business or find new employment. The economic vitality of Singapore centers on a motivated and highly educated workforce. If you move a business here, you will find top talent all around.
On the other hand, expats can easily file for a work permit online and have a decision in a few days. The city’s population is welcoming to foreign talent and many expats report no issues finding work.
3. Low Tax Rate
Singapore’s tax system is drastically simpler when compared to the rest of the world. The system requires individuals to pay a nominal tax rate, ranging from 0-20% depending on income. An income of less than $22,000 a year has a 0% tax rate and income of over $320,000 a year has a 20% tax rate.
4. Education System
Singapore invests heavily into their education system, and the results are evident. The National University of Singapore is among the top universities in the world, currently ranking at 11. With such heavy investment, government grants are available to reduce costs and both international and domestic students are eligible for aid.
5. Unmatched Healthcare
Another top reason to become an expat in Singapore is the healthcare system that is the envy of many countries. The World Health Organization ranks the system 6th in the world and Singaporeans enjoy an extremely high standard of living. The life expectancy is 84.8 years!
Singapore Fun Facts
Do you need to learn more before committing? Here are some interesting facts about Singapore!
- It is one of three city/states in the world. The other two are Vatican City and Monaco.
- The port is the world’s second busiest after Shanghai.
- It sports the largest number of Lamborghini’s per capita.
- After Macau, it produces the second largest gaming earnings in the world.
The Bottom Line
These reasons are just the tip of the iceberg when it comes to Singapore. This is an interesting, thriving, and vibrant city to call home. Located just miles from the equator, you enjoy temperate weather with an average of 85 degrees Fahrenheit every day. Between the opportunities and weather, you will find a relaxing new place to call home.
Yes, Singapore is likely to make the list of expensive cities, but only if you want to live like royalty. If you want a simple condo in the middle of the city, you will pay rent similar to what you will find in a U.S city. The difference is that you will have amenities like tennis courts, gyms, Jacuzzis, playgrounds, and pools included on top of the wonders of the city-state.