Expats In Singapore

A study done on foreign residency has shown that in the entire world, expats in Singapore are the highest earning, with almost half of them earning well above two hundred thousand USD per annum. It is in Singapore that the highest number of expats own luxury assets like boats, posh cars et cetera. The main reason why this is so is because of the fact that Singapore has a very low taxation rate as compared to other countries worldwide. Consequently, Singapore has of late become the most appreciated place to be by expats. The infrastructure is excellent, amenities are of high quality and are readily available and, to cap it all, the education and schooling system of Singapore is one of a kind.

One thing, however, that expats have a hard time adjusting to is the high level of falling in line with and observing all the rules and set of laws of Singapore. Very heavy and stringent penalties fall on those who bend or break these rules, and this becomes a challenge to expats in Singapore when they are not yet used to the country’s governing rules. This explains why Singapore has the world’s lowest crime rates ever known.

In Singapore, English is well spoken, making it even a better place to be for any expat doing business. There also is a great harmony between the different religions in the country. The level of technology in Singapore is also very high and up to date and the literacy level in Singapore is way above 90%, and this explains why Singapore has very competent workers in every field whatsoever. The above mentioned factors, among others, show why many people choose to be expats in Singapore.

Economically, Singapore is to this point the most excellent place to conduct business in the whole of Asia. The taxation rates are lower than most nations in the world and the rate of economic escalation is eye catching, the real estate sector being one of the leading segments in the economy. Also, expats do not have to be in a place like America to enjoy doing activities like gambling, for the Singaporean government has officially approved gambling in some resorts held in reserve for that purpose and Singapore now has the world’s largest casino called Macau.

However, it is important for expats to know certain crucial things about Singapore if that’s where they choose to live. First and foremost, it is vital for expats to know that the languages spoken in Singapore include English, Malay, Tamil and Mandarin. Also, there are about five most important religions practices in the area, but the main are Christians and Buddhists. An expat who chooses to live in Singapore ought also to know that with Singapore being the 5th country in terms of wealth, the cost of living therein is also very high. It is therefore important that the expat in Singapore plans their expenditure very well in consideration of basic things like education, health, housing, clothing and entertainment.

Mindy Yong 杨雯诗

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mindy@mindyyong.com

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