For those looking to live abroad, Singapore is one country that is certainly worth considering. Between year-round beautiful weather and Singaporean openness to foreigners, the country is the perfect place for any expat looking to begin a new adventure. Here are our top 5 reasons for expats to move to Singapore immediately.
1. Singapore Provides Incredible Business Opportunities
Whether running your own business or looking for a job with an existing business, Singapore has a business environment that is sure to work in your favor.
For Business Owners:
Singapore has a highly educated and motivated workforce, so finding top talent won’t be an issue. On top of that, moving your business there is an extremely simple process.
Getting a work permit is as easy as filling out an online form and waiting a few days for your decision. Despite having a highly talented workforce, Singapore’s population of only 5 million leaves them hungry to acquire foreign talent, which translates to high acceptance rates on work permits, and high average salary. HSBC’s 2016 Expat Explorer Survey reported that the average salary of Singaporean expats is $139,000, compared to the global average of $97,000 for expats living in other countries.
2. Singapore Has a Low Tax Rate
Singapore’s personal tax system is drastically simpler than much of the rest of the world, and requires that individuals pay a nominal tax rate compared to many other countries. The tax rate ranges from 0-20%, depending on your level of income. Those earning less than $22,000 per year pay nothing in taxes, while those earning over $320,000 per year pay 20%.
3. Minimal Crime Rates
The country was ranked 8th in the world for crime rates in 2015. This is largely due to their strict punishments for bribery, drug offenses, and less severe offenses like cheating on a partner, which can result in one year of imprisonment. Learn more about Singapore’s crime and punishments here.
Also see: The 21 Must-Have Apps for Living Abroad
4. An Outstanding Education System
With 20% of government spending going directly into education, Singapore is a great place for anyone interested in continuing their education. The National University of Singapore currently ranks 12th in the world for higher education, up from 25th in 2012. Graduate programs cost an average of $22,000 per year, but government grants have the potential to reduce that cost by up to 50%, and are available to both domestic and international students.
5. Traveling In (And Out) of Singapore
Traveling around by bus or the MRT (Mass Rapid Transit) is both very easy and very affordable, and cabs are another very affordable alternative for those who need to visit more remote locations. The country also serves as a hub for travel throughout Asia, with affordable flights regularly available for flying to Southeast Asia, especially for those who are willing to plan last-minute trips.
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