This section offers in-depth details on Singapore’s immigration laws as well as other subjects that would be of interest to a business traveller or recent corporate immigrant.
Schemes for Permanent Residence in Singapore
Benefits of Singapore Permanent Residence (PR)
Discover the main advantages of settling in Singapore as a Permanent Resident.
You can apply for Singapore PR (permanent residence) status if you currently hold a work pass (Employment Pass, Personalised Employment Pass, EntrePass, or S Pass) and have worked in Singapore for at least six months. 522,347 Singapore PR holders are presently residing in Singapore, according to data from 2018. Singapore PR holders are granted many of the same privileges and rights as full citizens.
If you are a Singapore PR, you can:
Be aware that acquiring Singapore PR status also grants the government significant privileges. For instance, if you have young sons who are Singapore permanent residents, they must enlist in the military by the time they are 16.5 years old and serve for two years after turning 18. They must then complete 40 days of operationally prepared national service every year until they are 50 (for officers) or 40 (for all others) (for other ranks).
Nevertheless, there are numerous options for you to live, work, and invest in Singapore’s society and economy once you become a Singapore PR, a process that typically takes 6 to 12 months.
Singapore PR Schemes Overview
Every year, tens of thousands of people apply to become permanent residents of Singapore, but not everyone follows the same procedure. The applicant himself, along with the applicant’s spouse and unmarried children under the age of 21, may submit a single Permanent Residence (PR) application on behalf of the entire family.
Numerous schemes offering the chance to obtain permanent residency in Singapore have attracted thousands of immigrants from different backgrounds to settle on the island nation, one of Asia’s most prosperous and stable nations and a major center of finance.
There were an estimated 526,600 PRs in Singapore as of June 2017, out of a total population of around 5.6 million, and the number is growing (accurate for 2017). There are various routes that can get you a Singapore PR status, even though most foreigners apply for PR after working in Singapore for a few years.
This guide gives you an overview of the several PR schemes that are offered in Singapore so you may choose the one that best suits your requirements and situation.
You would have access to the majority of Singapore’s privileges and advantages as a permanent resident. The spectrum of advantages includes the ability to live in the nation without being subject to visa limits, priority enrolment for your children in public schools, increased freedom to purchase real estate, participation in the retirement fund program, etc.
You must also fulfil a number of obligations, such as submitting your son(s) to a two-year military service requirement after they turn 18 years old.
Singapore PR Scheme for Persons Employed in Singapore
For foreign professionals who are employed in Singapore at the time of applying for permanent residency, there is a program called the Professionals/Technical Personnel & Skilled Worker scheme (sometimes known as the “PTS scheme”). The quickest and most secure way to obtain PR in Singapore is through the PTS system.
Your employment in Singapore at the time of application is a crucial condition. This means that you must first move to Singapore while holding a work visa of the Employment Pass, Entrepreneur Pass, Personalized Employment Pass, or S Pass variety.
Singapore Investors’ PR Scheme
The Global Investor Programme, popularly known as the “GIP plan,” is an investment program through which you can apply for permanent residency in Singapore. Under this program, you can apply for permanent residency (PR) for you and your immediate family by creating a firm with a minimum investment of SGD 2.5 million or by making a comparable investment in an existing company in Singapore.
Currently, there are two investment possibilities available to you under the GIP scheme:
You must also meet a number of other requirements, such as having a successful track record in business, an entrepreneurial history, and a business proposal or investment strategy, in addition to the minimum amount you invest.
Singapore PR Scheme for International Artists
In recent years, Singapore’s arts community has expanded quickly, in keeping with the nation’s goal of becoming the center of the region’s cultural scene.
You can apply for permanent residency under the Foreign Artistic Talent program if your talent is in any of the visual or performing arts, including photography, dance, music, theatre, literature, or film. You must be a well-known artist in your own country, preferably with a worldwide reputation, and have the necessary training in your field of activity to be eligible for this program.
Additionally, you must have made a major contribution to Singapore’s arts and culture scene, have a history of leadership involvement locally, and have specific ambitions to get active in the country’s cultural industry.
Next obtaining Singaporean citizenship
A person can seek to become a Singapore citizen if they are at least 21 years old and have been Singapore Permanent Residents (SPR) for at least 2 to 6 years prior to the date of application.
To Sum Up
Professionals and other foreigners who can contribute positively in a variety of ways to the country’s development and economy are welcomed by the government of Singapore. There are a number of permanent residency programs in place to assist you in obtaining Singapore permanent residency using the strategy that is most appropriate for your circumstances.
Entrepreneur Pass Scheme in Singapore
You may be able to apply for an Entrepreneur Pass if you are an entrepreneur looking to launch a business in Singapore (EntrePass). Learn more about the requirements, procedure, and other details you need to be aware of before applying for an EntrePass.
What is an EntrePass?
The Entrepreneur Pass (EntrePass) program is aimed towards international serial entrepreneurs, highly skilled innovators, and experienced investors who want to launch a company and migrate to Singapore. The program is a component of Singapore’s strategy to draw in talent and establish itself as a regional commercial hub.
How am I able to obtain an EntrePass?
To be eligible for an EntrePass, you must:
Along with the aforementioned, you also need to fulfil the following minimal requirements for one of the three categories below:
The following types of businesses are not eligible for an EntrePass:
What paperwork do I need to submit for an EntrePass application?
You must include the additional paperwork below if your business has already been incorporated before your application is submitted:
These additional files, in addition to the ones mentioned above, may help you strengthen your EntrePass application:
All supporting documentation for an EntrePass application must be in English or have been duly translated into English by a recognized translation agency.
How can I submit an EntrePass application? How long will it take to process?
You must submit your EntrePass application to Singapore’s Ministry of Manpower (MOM) over the counter at any SingPost location, together with any necessary supporting documentation.
An EntrePass application is processed over the course of about 8 weeks, during which time it is evaluated jointly by MOM and government-affiliated or -partnered organizations like the Standards, Productivity and Innovation Board of Singapore (SPRING), Infocomm Media Development Authority (IMDA), and SGInnovate.
How do I obtain my EntrePass and how do I find out whether it has been approved?
The MOM will send an In-Principle-Approval (IPA) letter, which is valid for six months after the date of issue, to the Singapore address you specified on your application form after your EntrePass application has been granted.
You must be in Singapore, produce a copy of the IPA letter, your passport, and any additional documentation the IPA letter may require in order to pick up your EntrePass. If necessary, you will be given a one-time entry visa to enter Singapore and pick up your EntrePass.
Your IPA letter may state that you must undergo a medical examination and present the results when you pick up your visa. You can choose to undergo the medical examination when you arrive in Singapore or in a reputable hospital or clinic in your native country.
Keep in mind that the medical report must be sent with the completed medical examination form included with the IPA letter, and that it must be written in English.
Within six months on the date of the final IPA clearance letter’s issuance, you must relocate to Singapore.
Although I have applied for an EntrePass, I have not yet registered my business in Singapore. When ought I to do that?
Until your EntrePass is authorized, you are not needed to register your business in Singapore. If your application is denied, you can avoid paying business registration and relocation fees by incorporating your business after receiving your EntrePass.
Within 30 days of receiving an IPA letter from the authorities, you must register your business, open a corporate bank account, and add any necessary share capital.
Before receiving your final, approved EntrePass, you must update your EntrePass information with MOM after registering your business.
I’ve succeeded in getting an EntrePass. Can I bring my family to Singapore to live with me?
By acquiring their Dependant’s Passes, the EntrePass enables you to bring your family (spouse and unmarried children under the age of 21) to Singapore.
Family members who have been given Dependent’s Passes by EntrePass holders can renew both the Dependent’s Pass and the EntrePass at the same time.
You must fulfil the Year 2 renewal requirements for EntrePass holders in order to be eligible for Dependant’s Passes for your family members. Dependant’s Pass applications must be submitted over the course of around 16 weeks.
I was not granted an EntrePass. How should I proceed?
Within 90 days of receiving your rejection notification, you may appeal your EntrePass rejection. Applications for EntrePass appeals are typically processed in 8 weeks.
A professional company could be able to appeal on your behalf (please refer to the next question for details).
How can a respectable business help me with my EntrePass application?
You can get help from an experienced professional company with your EntrePass application by:
Please be aware that professional companies have no influence over the EntrePass application process, which is subject to official inspection and approval.
Can I use my EntrePass to apply for permanent residency in Singapore?
In due course, EntrePass users may apply for permanent residency (PR), subject to Singaporean immigration officials’ permission.
You must show that you are operating a successful and cutting-edge firm and that you won’t cause Singapore any financial hardship when you submit a PR application.
Why International Entrepreneurs Will Benefit from the New Enhanced EntrePass Scheme
The Ministry of Manpower, the Ministry of Trade and Industry, enterprise agency Spring Singapore, and Start-up SG jointly announced the updates to the evaluation criteria on August 2, 2017, opening the door for founders of internationally innovative start-ups to enter and launch operations in Singapore during the early exploration stage.
The Enhanced EntrePass program went into action on August 3, 2017, right away.
Here, we look at 6 crucial points to remember.
To draw in promising international entrepreneurs, the EntrePass application’s eligibility requirements have been expanded. The four qualifying criteria from earlier have been supplemented with new evaluation criteria. All applicants must fulfil at least one of the minimal requirements.
Entrepreneurial and investment track record, business network, and significant accomplishments in the applicant’s fields of competence are the most recent additions to the criteria.
Prior to the enhancement, applicants had to I have funding/investment from a venture capitalist or business angel that was recognized by the government; (ii) own intellectual property; (iii) have a research collaboration with a higher education or research institution in Singapore; or (iv) be an incubate at a government-recognised incubator or accelerator.
The following criteria will be used to evaluate applications for Enhanced EntrePass after the improvement.
| Entrepreneur | Innovator | Investor |
| Has received investment from a government-recognized venture capitalist or business angel | Holds intellectual property | Investment history |
| Is an incubate at a Government-recognised incubator/accelerator | Has a research partnership with a reputable university or research center in Singapore | |
| Business connections and record of entrepreneurship | Exceptional accomplishments in important areas of expertise |
How does it help foreign entrepreneurs?
Particularly early stage entrepreneurs and innovators who are in the exploratory stage would benefit from the newly additional criteria. The prior criteria excluded foreign entrepreneurs and inventors who were just starting out in company and favoured those who had already established a footing in Singapore through funding and research partnerships.
Even with a proven track record and achievements abroad, international investors, innovators, and entrepreneurs invariably take some time to network, explore, and demonstrate the worth of their projects and possible partners before they can attract finance or research partners.
Without a work visa that permits their uninterrupted stay for the duration of its validity, they would be unable to stay in Singapore to assess the sustainability of their business and to start the project. Even if they had already tested the viability of their business concepts, it would still take time for them to set up their company and get it going in order to convince potential partners and investors of their sincere dedication.
This necessitates a work visa, but most frequently, such business owners, innovators, and investors lack the necessary academic credentials to be eligible for a normal Employment Pass. For this group of entrepreneurs who had the knowledge and experience but lacked a formal education, the older EntrePass standards were too strict. The point of admission for such applicants has now been widened through the use of broader evaluation metrics.
Previously, candidates for EntrePass had to have S$50,000 in paid-up capital. This criterion was removed from the Enhanced EntrePass Scheme. Potential EntrePass holders can now incorporate a business with a paid-up capital of S$1 just like any other company.
How does it help foreign entrepreneurs?
The venture does not require applicants to invest money right away. Entrepreneurs and innovators from all over the world who want to launch a business in Singapore may have found the S$50,000 capital barrier to be burdensome. Now that the capital commitment requirement has been eliminated, such candidates would have it easier.
After obtaining the EntrePass, or finally when they are certain of the sustainability and scalability of the business, they can now pool the funds.
To provide international entrepreneurs more confidence as they scale up their operations, the validity duration of each EntrePass will be increased from one to two years following the initial renewal.
An EntrePass is first awarded for a period of 1+1 years, and before it is extended for a second year, the foreign entrepreneur must show progress at the conclusion of the first year. Subsequent EntrePass renewals will then be good for two years.
How does it help foreign entrepreneurs?
The EntrePass was renewed for a year each time prior to the improvement. This was difficult for the business owners who felt under pressure to fulfil the requirements for renewal and to put their attention on renewal procedures and compliance controls year after year rather than on growing their company. With the extension of the pass’s validity, company owners will feel more secure about their stay and be able to concentrate on expanding and increasing their operations.
The total amount of company spending has significantly decreased as a result of the adjustments implemented under the Enhanced EntrePass program. For instance, instead of the former need of S$150,000, the total annual company spending requirement is now only S$100,000. However, it should be noted that after six years of operation, the applicant’s company is expected to employ at least nine locals full-time; formerly, applicants were only required to have ten full-time local employees after five years or more.
Enhanced Renewal Criteria
| No. of years that a person has held an EntrePass | No of local jobs you need to create (or) | Minimum yearly total business spending (TBS) | |
| FTEs (Full-Time Equivalents) | PMEs (Professionals, Managers, Executives) | ||
| 1 | – | – | – |
| 2 | 3 | 1 | $100,000 |
| 4 | 6 | 2 | $200,000 |
| 6 | 9 | 3 | $300,000 |
| 8+ | 12 | 4 | $400,000 |
How does it help foreign entrepreneurs?
Businesses that are growing, especially small businesses, struggle to keep expenditures under control. Prior to this, many business owners felt that it was against their core values to achieve the minimal business expenditure requirements. The reduction is a welcome release for business owners who can now concentrate on investing their capital in more revenue-generating projects.
Some companies that operate with a lean staff approach found the headcount to be a disadvantage. It’s possible that some businesses won’t even need that many staff members until they reach a specific size or milestone. It should be mentioned that in response to this worry, the government added the PMEs category to the headcount, where one PME is equivalent to three FTE.
From now on, the type of workers will be considered rather than just their numbers. For instance, if his business only had two PMEs, the EntrePass holder whose pass is up for renewal at the end of the year would easily meet the criterion of four local full-time employees.
After satisfying the requirements for Year 2 renewal, EntrePass holders can qualify for DPs for their spouses and children. Before, only EntrePass users who met the requirements for local employees and minimum business spending could apply for DPs after the first year had ended. The entire procedure should take about 16 weeks.
How does it help foreign entrepreneurs?
Holders of EntrePass’s no longer have to wait until the end of the first year to bring their families. Some business owners would find great consolation in being close to their family during these difficult times, when their company is likely facing its most difficult trials.
However, other people can find it distracting to have their relatives nearby. As long as they complete the year-two requirements, it is now only a hop over the obstacle for individuals who want to be close to their family.
The National Research Foundation (NRF), backed by SGInnovate, and the Infocomm Media Development Authority (IMDA) will both be new partner organizations added to the improved EntrePass program in addition to SPRING Singapore. These organizations will collaborate with MOM to assess applications in their respective fields.
How does it help foreign entrepreneurs?
The range of industries for which the entrepreneurs may be eligible is increased by this improvement. More significantly, bringing in these extra agency partners to analyse the applications will give a thorough evaluation of the applicant’s company and its potential worth to the Singapore economy.
Living expenses in Singapore
An overview of Singapore’s cost of living is provided in this paper. In Singapore, pricing for essentials including food, clothing, public transportation, elementary education, and utilities are often relatively reasonable. Taxis and public transportation are both relatively inexpensive. On the other side, housing, private education, and car maintenance can be expensive.
If your remuneration package as an expat includes perks like housing, day-care, the payment of school fees, entertainment allowances, and other work-related incentives, you may not be as concerned about these expenditures and discover that life in Singapore may be rather comfortable. Even if you don’t have a comprehensive package, you can always find anything within your price range because Singapore offers a wide range of options and costs for every category.
Accommodation Costs
The price of housing in Singapore is affected by a number of variables, including the property’s closeness to the city, its age in comparison to other properties, the presence of recreational amenities (such as a pool, gym, etc.), and the standard of the furnishings included in the rental. Take your time deciding where you want to reside in Singapore and make your choice only after carefully weighing your particular preferences and the typical monthly rent.
Condominiums
Due to the availability of recreational amenities including swimming pools, tennis courts, playgrounds for kids, protected access, the chance to connect with other expatriates, and affordability compared to renting landed property, the majority of expats in Singapore reside in private condominiums.
Private condo rental rates might vary significantly depending on the building’s location and age. A three-bedroom condo in a prime location close to the city’s core, such as Orchard, Bukit Timah, Tanglin, or River Valley, can be rented for as little as S$7,000 per month and as much as S$15,000, depending on how opulent the apartment is and how accessible it is to the CBD.
Waterfront properties at Sentosa and Keppel Bay, for example, can rent for anywhere between S$8,300 and S$13,000 per month. In the outskirts of the city, 3-bedroom condos range in price from about S$4,500 to S$7,000. Condominiums outside the city center, in areas like Bedok, Changi, Pasir Ris, Tampines, Ang Mo Kio, Woodlands, Yishun, Clementi, Jurong, and Punggol, cost less to rent each month and range from S$3,300 to S$5,000.
Private Apartments
Private apartments in Singapore are similar to condos, although they typically don’t have as many amenities as condos have, including big pools, BBQ pits, tennis courts, etc. Since condominiums make up the majority of new private construction, they also tend to be older structures. A 3-bedroom private apartment in the CBD area will cost between S$5,000 and S$7,000 per month to rent, while those on the outskirts may be had for about S$4,000.
HDB Flats
Living in a government housing flat (also known as a HDB flat) is a highly affordable alternative if you have a limited budget; more than 80% of the local Singaporeans reside in HDB apartments. The majority of HDB apartments are located adjacent to common amenities such banks, neighbourhood schools, markets, polyclinics, libraries, shopping centres, and train and bus stops.
These flats do not, however, provide luxuries like gyms or swimming pools. The location and size of the HDB apartment determine the rental price. Rent for a three-bedroom HDB apartment near the CBD is S$3,000, although it can be found for S$2,200 to S$2,700 in other sub-urban areas.
Landed property
Terraced homes, semi-detached homes, detached homes, and bungalows are examples of landed properties. Landed property is no longer particularly widespread in Singapore because of its comparatively small land area and high population, making it highly expensive to rent. Detached bungalows in desirable locations typically cost close to S$18,000 per month to rent.
A high-end, magnificent bungalow with four bedrooms, 1,400 square meters of property, and a sizable garden may be rented for as much as S$35,000 per month. Less expensive housing options include terraced and semi-detached homes, which rent for from S$8,000 to S$13,000 per month.
Paying Guest
Rent for a private apartment room ranges from S$800 to S$1,800 in upscale neighbourhoods like East Coast, River Valley, and Chinatown. Depending on the location and size of the room, the monthly room rental in a HDB apartment might range from S$500 to S$800.
Serviced Apartments
Some foreign nationals choose renting serviced apartments because they provide individualized services and hotel-style amenities, or because they plan to stay in Singapore only temporarily and need a flexible lease. Singapore’s serviced residences have a pool and a gym in addition to being completely furnished.
The majority of serviced apartments have both bigger 3–4 bedroom flats as well as 1-2 bedroom units. Lease conditions are negotiable and can be agreed upon on a daily, weekly, or monthly basis. While some serviced apartments are situated in the River Valley, East Coast, and West Coast regions, the majority are situated in the Orchard area. A one-bedroom apartment’s monthly rental can range from S$7,000 to S$14,000 depending on the neighbourhood and the apartment’s level of luxury.
Food Costs
Food costs are not very expensive in Singapore. Food costs, like other costs, depend on how excessive you are. Depending on the lifestyle you choose to lead in Singapore, food expenses may or may not play a large role in determining your average monthly cost of living.
If an expatriate family in Singapore cooks for themselves as frequently as feasible or goes out to eat at food courts, they can reduce their food expenditure. Despite the fact that a variety of restaurants provide a variety of ethnic cuisines to fit a range of budgets, eating out frequently will always be more expensive.
Eating In
If you make your own meals, you should spend only approximately S$200 per person per month on basic meat and veggies. Depending on their eating habits, a couple dining out may spend an average of $1,000 to $1,200 per month on food.
Eating Out
One of Singapore’s distinctive characteristics is the city’s profusion of food courts and hawker centres, which provide a wide range of cuisine. A typical weekday lunch at a hawker center can cost as little as S$4, whereas a meal at a food court can cost you between S$5 and S$6. Fast food restaurants like McDonald’s will charge you about S$7 for a meal, while Starbucks will charge you about S$6 to S$7 for a drink. For basic meals, a typical restaurant visit can cost between S$20 and S$40 per person.
For an average couple who is cautious of their spending, the monthly food budget in Singapore can range from S$600 to S$1,000 when breakfast and dinner are eaten at home, lunch is eaten outdoors at food courts, and basic weekend trips are included.
Cost of Transportation
Public Transport
Singapore features one of the world’s best, most complete, and most affordable public transportation systems. The typical bus or MRT (Mass Rapid Transit) fare is around S$1.60 for one way. Combining bus and MRT transportation will often set you back S$150 per month, with a daily journey to and from work costing S$3.50 and an average weekend fare of S$10. A couple who frequently travels within Singapore will need to budget approximately S$300 per month for transportation as part of their Singapore living expenses.
Taxi
Singapore has one of the world’s most effective taxi services. Even the shortest distances can be travelled in a taxi. Singapore is one of the few western nations where using a taxi is not too pricey.
Taxi fares range from S$3.00 to S$3.40 for the first mile, and after that, you pay S$0.22 for every 400 meters up to 10 kilometres and S$0.22 for every 350 meters. Some cabs, notably Mercedes or London cabs, have higher starting rates, starting at around S$3.90. You can call a cab company to make a reservation (S$2.30 to $3.30 extra) or grab one on the street.
You will be charged an additional 25% of the fare during peak hours (weekday mornings from 6:00am to 9:30am and evenings through Sundays from 6pm to 12 am), and a 50% late-night surcharge (from midnight to 6:00am) applies to metered fares. There are location-based surcharges that are applicable in the airport (S$3-S$5), CBD area (S$3 from Monday through Saturday, 5pm to midnight), etc. Additionally, you can be required to pay ERP (Electronic Road Pricing) fees on specific expressways at specific peak hours.
Private Car
Due to high government taxes on this kind of transportation, having a private car in Singapore can be a relatively pricey luxury in contrast to affordable public transportation and taxi service options. The administration wants to lessen air pollution and sever traffic congestion. Thus, it motivates the typical Singaporean to take public transportation instead.
Contrary to most other nations in the globe, Singapore is a very tiny city with great public transportation options (both air-conditioned). As a result, having a car is not at all necessary.
However, you might consider getting a car if your line of work necessitates a lot of daytime commuting within the city. Your typical cost of living in Singapore will increase dramatically if you own a private vehicle.
Healthcare Costs
The World Health Organization ranked Singapore’s healthcare system sixth best in the world and first in Asia in 2000. The system is economical and provides cutting-edge medical care with impressive success rates. The system must adhere to strict, legally enforced standards for excellence, safety, and cleanliness. The provision of health insurance to employees by businesses is not, however, required by law.
Health insurance coverage are typically not offered by the majority of Singaporean workplaces. This is not a problem for you if your remuneration package includes medical insurance. The cost of healthcare in Singapore is affordable, even if your employer does not offer it.
You can set aside a monthly budget of $100 to $200 to handle your day-to-day medical expenses without any insurance. A general practitioner’s consultation typically costs S$40, while blood tests and x-rays can run you anywhere from S$50 to S$80. Private institutions often charge between $75 and 125 S$ for a consultation with a specialist.
Keep in mind that you ought to buy hospital and surgical insurance. Such coverage will cost between $2,000 and $3,000 a year. The cost of hospitalization varies based on the ward type selected. In Singapore, there are a variety of wards, including open wards without air conditioning and a private medical suite that mimics a royal suite in a five-star hotel. As a result, a ward’s daily fees might range from S$30 to S$3,000.
Utilities Costs
Depending on how much air conditioning you use, your monthly gas, water, and electricity bills could be anywhere from S$200 to S$600. A monthly mobile phone subscription can range from $35 to $100. You should expect to pay about S$50 per month for a broadband Internet connection at home. For a cable TV connection, you may budget between S$50 and S$80 for an expanded membership and roughly S$28 for the basic channel package.
There is a large selection of international channels available, including well-known ones like CNN, BBC, Discovery, HBO, Disney, ESPN, and many others. Foreigners must pay a $250 deposit to get a cable connection. The selection of shows has been considerably improved by StarHub’s (the cable company) Digital TV service. The business’s Demand TV offers a selection of 10 films at any given moment for S$4.50 each. To use this service, you need a StarHub digital setup box.
Education Cost
In Singapore, working expats have the option of enrolling their kids in either public or private schools. Private schools are also known as international schools, whereas public schools are also known as local public schools.
Singapore has very high educational standards, therefore you can’t go wrong choosing either of the two. An international school will follow a curriculum that is more widely acknowledged internationally, such as the well-known International Baccalaureate (IB) high school certificate, whereas a local school will follow a curriculum that has been approved by the Ministry of Education.
The fact that local school education in Singapore is so reasonably priced is one of its main benefits. In comparison, the monthly cost of enrolling a child in an international school can range from S$1,000 to S$3,000 or more.
Government-run local schools
Primary education lasts six years. The GCE O Level exams need 4 years of secondary school, while the GCE N Level exams require 5 years. Children of foreign nationals with work permits in Singapore may enrol in neighbourhood schools.
However, it should be mentioned that children of Singaporeans and Permanent Residents attend local schools. As of 2012, it will cost between S$246 and S$356 per month to send your child to a local school in Singapore for primary education, between S$341 and S$486 per month for secondary education, and between S$552 and S$772 per month for junior college.
International Schools
International schools include those from the United States, the United Kingdom, Canada, the Netherlands, Germany, Japan, and Switzerland. The expected annual fees fall between S$12,000 to S$30,000. The annual cost of school bus fares is projected to be between S$1,500 and S$2,000.
Taxes
One of the lowest income tax rates in the world is in Singapore. One of the top reasons given by expats moving to Singapore is its tax structure, which guarantees significant tax savings. Because Singapore has a territorial system of taxes, only income earned there is subject to tax. With several exclusions, income earned abroad is not subject to taxation.
Singapore’s personal income tax rates start at 0% and are capped at 20% for residents (citizens, permanent residents, and foreigners who have worked or resided in Singapore for 183 days or more during the tax year), while they are 15% for non-residents (foreigners who have worked or resided in Singapore for less than 183 days during the tax year).
Singapore has also signed up for up to 69 comprehensive tax treaties to prevent revenue from being taxed twice. In addition, Singapore has no wealth tax, capital gains tax, estate duty, or dividend tax.
Singapore’s personal income tax is based on a progressive system. Learn which forms of income are taxable and how your tax status—resident or non-resident—affects how the income tax applies to you.
Singapore has one of the lowest personal income tax rates in the world. An individual’s Singapore income tax due must be calculated by first determining their tax residency and chargeable income amount, and then by applying the progressive resident tax rate to those amounts. Key elements of Singapore’s personal income tax include:
Personal income tax rates
Individuals who live in Singapore are subject to the following progressive resident tax rates. If your annual income is $20,000 or more in Singapore, you must file a personal tax return. If your annual income is less than S$20,000, you are not required to pay tax. If the Singapore tax authorities has notified you to file a tax return, you may still be required to do so.
Keep in mind that further earned income relief is also provided to further lower the tax due based on age.
| Chargeable Income | Rate (%) | Gross Tax Payable ($) |
| On the first 20,000 On the next 10,000 | 0 2 | 0 200 |
| On the first 30,000 On the next 10,000 | – 3.5 | 200 350 |
| On the first 40,000 On the next 40,000 | – 7 | 550 2800 |
| On the first 80,000 On the next 40,000 | – 11.5 | 3350 4600 |
| On the first 120,000 On the next 40,000 | – 15 | 7950 6000 |
| On the first 160,000 On the next 40,000 | – 18 | 13950 7200 |
| On the first 200,000 On the next 40,000 | – 19 | 21150 7600 |
| On the first 240,000 On the next 40,000 | – 19.5 | 28750 7800 |
| On the first 280,000 On the next 40,000 | – 20 | 36550 8000 |
| On the first 320,000 In excess of 320,000 | – 22 | 44550 |
Non Resident Tax Rates
| Type of Income | Non-resident individual tax rate / withholding tax rate from YA 2017 |
| Director’s remuneration | 22% |
| Revenue from work as a non-resident professional (consultant, trainer, coach, etc.) | 20% of net income or 15% of gross income |
| Concessionary rate of 10% (No change) | |
| Other income, such as rental income from a property in Singapore | 22% |
| Non-citizen SRS member withdraws from SRS | 22% |
| Interest, royalty etc. | Final withholding tax rate that is lower (under certain conditions) 15% interest 10% royalty OR In the absence of the reduced final withholding tax rate, 22%. |
| Pension | 22% |
Source: IRAS
Depending on the person’s tax residency status, different income tax laws apply in Singapore.
Personal tax for residents of Singapore
According to the resident tax rate table above, tax residents must pay taxes on their chargeable income. According to the following formula, tax residents’ chargeable income is determined:
| Total Income | |
| Less: | Expenses |
| Statutory Income | |
| Less: | Expenses |
| Assessable Income | |
| Less: | Personal Reliefs |
| Chargeable Income | |
Whereas
Means of total income
Expenses imply
Donations imply
Personal Reliefs imply
After deductions from the entire income, this adjusted income is the chargeable income (as shown in the table above).
Personal tax for non-residents of Singapore If you are a foreign national who worked or resided in Singapore for fewer than 183 days during the tax year, you are regarded as a non-resident for tax purposes. Non-residents are subject to the following taxes:
Completing personal income tax returns
Every eligible taxpayer has an annual duty to file their tax return. By April 15th, the tax authority in Singapore must receive all completed forms.
If your annual income is less than S$22,000 (applicable to tax residents only), you are exempt from paying tax. However, if the tax authorities have instructed you to submit your tax form, you might still be required to file returns. Even if you had no income in prior years, you must still disclose it on your tax form and submit it by April 15 (paper) or April 18 (online) (e-filing). If your annual income is S$22,000 or more, you are required to file tax returns.
You have the option of filing your taxes either online or by mail. The appropriate paper tax form will be sent to you by IRAS upon request; the online form will be accessible beginning on March 1 of each year.
If you file your paperwork too late or not at all, you will be fined. The non-filing or non-payment of a tax return by the individual may also result in legal action by IRAS.
You will receive your Notice of Assessment or tax bill between May and September after you have filed your returns. The amount of tax you owe will be shown on your tax bill. Within 30 days of the date of your tax bill, you must notify the Singapore tax authority that you object to the amount of your tax and provide justification.
After getting your Notice of Assessment, you have 30 days to pay the entire tax amount. Whether or whether you have alerted the tax authority of your objection is irrelevant. Penalties will be applied if your tax is not paid after 30 days.
Taxation of foreign-earned income
In general, foreign income received in Singapore on or after January 1, 2004, is not subject to taxation. This includes foreign earnings deposited in Singaporean banks. Foreign income that is not taxable is not something you have to declare.
However, there are some situations where foreign income is taxable:
The eligible taxable foreign income must be reported on your tax form under “employment income” or “other income,” as appropriate.
Employer benefits are taxed differently.
Except for gains and profits that are expressly exempt from income tax or that are covered by an existing administrative concession, all gains and profits that you obtain from your employment are subject to taxation.
All advantages given or granted to you in connection with employment, whether in cash or another form, are included in the gains or profits. Some instances of taxable benefits you received from your employer include:
But take note that some non-cash perks, like lodging, are taxed using unique methods, which results in a reduced tax rate on these benefits-in-kind. Therefore, a correctly designed compensation package for the executives (i.e., salary + perks in kind) can aid in lowering their individual tax obligations in Singapore. This guide is not intended to go into further detail on this.
Capital gains tax, and inheritance tax, Estate duty
Capital gains can be defined as “investment income” derived from tangible assets like real estate, financial assets like stocks or bonds, or intangible assets like goodwill. There is no capital gains tax in Singapore.
When you pass away, you are required to pay an inheritance tax that is deducted from your financial estate. It is frequently referred to as estate duty in Singapore. With effect from 2008, estate duty in Singapore has been abolished.
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