Moving To Singapore: A Guide For Expats
Singapore is a tropical island in southeastern Asia that can be mistaken for a mini-paradise. In the 2021 global peace index, Singapore was ranked the 11th most peaceful country in the world.
It runs a multi-party parliamentary democratic government and has been conducting free and fair elections for its leaders. The country is a huge attraction for tourists and expats due to its beautiful cities, stable economy and vibrant culture.
Basic Facts About Singapore
Its capital city is known as Singapore
It gained independence from Britain as a Malaysian state on September 16th, 1963 and became independent of Malaysia on August 9th, 1965
There are 12 major towns and cities in Singapore with an estimated population of 5.9 million people
Major religions practised are Buddhism, Christianity and Islam
The official languages are English, Singapore English, Malay, Tamil, Singaporean Mandarin and Standard Chinese
Most expats reside in Holland Village, East Coast and Sentosa
Major industries include electronics, financial services and chemicals
The Singaporean dollar abbreviated as SGD is the currency used
Visa, Passport and Residency Permit
Before relocating to Singapore, ensure that your papers are ready and that they meet the stipulated requirements. Your passport has to have a validity period of longer than six months before you can gain entry.
With a valid passport, you can visit Singapore and stay for as long as three weeks. Although, a visa is needed for a stay of longer than a month. There are different kinds of visas available so only apply for the one that meets your needs.
To live and work as an expat, a work visa, as well as an employment pass, is needed. Employers typically handle the fees that come with obtaining an employment pass. Be sure this is cleared with your employer before making any move.
The employment pass makes you eligible for a permanent residence permit after living in Singapore for a couple of years.
Note that taking the COVID-19 vaccine is currently a prerequisite to obtaining a permanent residence permit, student pass as well as long-term visit pass. This law came into effect on the 1st of February 2022.
Cost and Standard of Living
It is no news that the cost of living in Singapore is high. According to mylifeelsewhere.com, the cost of living in Singapore is 27.6% higher than the cost of living in the US.
As a single individual, estimated monthly expenses can amount to 1,400 SGD without the payment of rent. However, the salaries and average wages paid by the government and private institutions are at par with the living costs. It is not impossible to live comfortably. In fact, most expats say they are happier and more comfortable in Singapore, compared to their home country.
Houses in areas like Woodlands, Sembawang and Yishun are cheaper compared to houses in places like Queenstown and the Central area. The price is not always reflective of quality. You can get a decent house in a low cost or highly patronised area, whichever you find more comfortable.
Your choice of housing will most likely depend on your place of work. Verify your company's address and contact reliable agents so you can get a wide range of options to pick from when you arrive.
Settling Your Finances
There's no such thing as starting off too early when it comes to money and your financial well being. Now is the time to set up your bank account and enroll with an insurance company. Accidents can not be predicted so it's best to pay the cost upfront to ensure you are covered.
There are lots of great international banks in Singapore like DBS Bank and Standard Chartered. Check out for international banks that have branches in your home country and open an account with them.
Also, you would need a financial plan to live comfortably in Singapore. What kind of life do you want for yourself and your family? What's your housing and schooling budget? It can be difficult to decide all of this especially with limited funds. Hence, it is necessary to employ the services of a financial planner or a finance planning company. You will get expert advice to help you navigate taxes, bills and other unavoidable expenses.
When choosing a financial planner to work with, it is important to select one that understands the laws and how the economy of Singapore works. TallRock Capital for instance is a financial planning service based in Singapore that helps its clients design the financial life they dream of.
Employment and Job Hunting
Most of the time, people who move to Singapore do so after they are offered a job by a Singaporean based company. However, this is not always the case. Perhaps, you are fascinated by the beauty of Singapore and wish to relocate as an expat.
It is often easier to hunt for a job and complete all the documentation before moving. Singapore has booming industries with room to employ more labour. Also, Singapore tends to be generally receptive and accepting of foreign talents. All you have to do is to find a reputable recruitment agency that focuses on your field.
An alternative is using LinkedIn which has become the go-to platform for professionals. Jobs are published daily and with a well-optimised profile, you would find one that fits you perfectly.
Education
Do you intend to work and study? Or, are you moving with your kids? If either of the two is the case, it is essential to do your research beforehand.
If your employer gives room for work and study, you can enrol in any self-paced institute close to where you will be based. As for your children, there are plenty of good public and private schools in Singapore. Although, most expats tend to enrol their children in private and international institutions.
Visit the chosen school before your arrival and start the admission process. Your kids may have to come with you to take the entrance exams as required by some schools. Also, check-in with your child's school in your home country so your child's file can be prepared and sent to the new school early. This will ease the stress that comes with changing schools.
Healthcare
The healthcare system in Singapore is top-notch. It is ranked the best in the world according to the Bloomberg Health-Efficiency Index. Hospitals here have the best specialists. Public centres tend to have more patients and this implies longer waits.
A good number of expats patronise private clinics to save time. Though, this option may be slightly more expensive.
It is advisable to set up your health insurance as soon as possible. This is particularly important as expats are exempted from health bill subsidies offered by the Singaporean Government.