Immigration to Singapore

Renting and buying of real estate’s for foreigners

Renting:

Most Singaporeans live in HBD apartments which are monitored by the state government. These flats has very cheap renting amount. Mostly expats live in private residential apartments called condo or condominiums. It is necessary pay a 2 month rent amount as a deposit and 1 month rent as an advance, prior to take it on rent. Also most lease agreements are made for 2 years.

Renting or buying is a personal decision and will depend on your individual circumstances and long-term plans. For those in Singapore on a short-term assignment, renting may be the best choice.

Documents:

• Passport copy
• Identity card
• Proof of working in this country (Salary Slip)
• Lease Papers

Buying:

It is always good to try before you buy a property. Renting a property to begin with will give you time to explore and find neighborhoods you like and get a real feel for the type of homes and apartments those are available. Those planning to be in this country for the medium to long-term may consider buying.

In the places other than the city centre, housing costs are comparatively lower, especially in the suburbs, surrounding prefectures and in other regions in Singapore. Mortgage options for foreign residents who have only just arrived in Singapore are available, but with permanent residency or a spouse who is either Singaporean or if you have permanent residency, along with an established work history in the country may open up access to more financial institutions.

Documents:

• Passport copy
• Identity proof
• Mortgage papers
• Bank Statement

For more information please visit: propertyguru.com.sg

Climate

Singapore has two seasons ‘wet’ and ‘dry’. Here you will not experience the specific four seasons as this country is near the equator. The dry season starts from the month of March and ends in the month of August. The wet season starts from the month of September and ends in the month of February. However there is not fixed weather in this country. 

Dry season: In the month of March to August there is very less rainfall than the rest of the months. The driest months are from March to first week of May. Temperature is usually the same during these months. There is rainfall during dry season with brief showers like for less than an hour in the month of May to August. 

Wet season: This season starts from the month of September and ends in the month of February. At this time this nation experiences heavy rain. Hence most of the locals or tourists like to enjoy the indoor attractions at this time like malls and museums. It is suggested to take an umbrella or a raincoat along whenever you plan to visit outside the house. 

For more information please visit: tripsavvy.com

Languages

Singapore has more than one official language English, Malay, Singaporean Mandarin and Tamil. A multitude of languages are used in this country as there are many minorities and immigrant from all over the world. Immigrants are Arabic, Armenian, Farsi, Yiddish, Thai, Vietnamese, etc. Minorities are Cantonese, Indonesian, Javanese, Japanese, Korean, Punjabi, Malayalam, Urdu, etc. People here also speak a language called Singlish which is also known as Singapore Colloquial English, this is an informal colloquial form of English that is used in Singapore. 

Foreign languages spoken in this nation are Dutch, French, German, Portuguese, Russian, Spanish, and Filipino. Singaporean Sign Language is another language used by the deaf and mute people in this country. Road signs, public hospitals, Notices and Campaigns, etc. are written in all the four languages, Official work is done mostly in English, also English is taught as first language in educational institutions. 

For more information please visit: en.wikipedia.org

Traffic

Singapore is the first country, implementing the Electric Road Pricing System (ERP). This country introduced how to run and manage successful special schemes for traffic congestion management, specially the Area License Scheme, ERP and the vehicle Quota System. There are only fifty roundabouts in this country. The most popular ones are Newton Circus, liking the Novena, Newton areas with a whopping eight exits. The rule is to slow down when you are near a roundabout and give way to traffic on you right side. 

The rush hours in this place is from morning 7.00 am to 10.00 am and in the evening 5.00 pm to 8.00 pm are there are many people on the road trying to reach at their work place or education centre and in the evening people are in a hurry to reach home. Generally the speed limit for driving in this country is 50 km/hr. The limit is restricted to 40 km/hr in school areas and Silver areas. Many expressways have 80 km/hr to 90 km/hr speed limits. People ignoring these speed limits and caught speeding up will be charged and given demerit points, fine or face prosecution. There are a few streets that are routinely congested, and rush hour is quite packed on the expressways, but traffic flow is generally quite good. 

For more information please visit: en.wikipedia.org

Currency

The currency of Singapore is known as the Singapore dollar. It is divided into 100 cents (c). It is abbreviated with the dollar sign ($) or S$ to show the difference from other dollar dominated currencies. Nickname for this currency is Sing dollar or Sing, as used by most of the Singaporeans. Notes and coins are issued by the Monetary Authority of Singapore (MAS). The paper currency is in five denominations, $2, $5, $10, $50, $100. There are also paper currencies which are discontinued but is legal and still in circulation $1, $20, $25, $500, $1,000, $10,000. Coins are available in 5c, 10c, 20c, $1. Coin of 1c is nowadays rarely used but is in circulation. This is the thirteenth most traded currency in the world. Singapore dollar is also accepted in Brunei as a customary tender. As well as the Brunei dollar is also customarily accepted in this nation. 

Payment Transactions

Payments can be made in this country through online, cash or cards, cheques, or by digital wallets. Cash is the original and the oldest payment method, used by more than 90% population. Credit cards are the most used online method at more than seventy percent population. Bank transfers are also used by most of the expats as well as locals. Some of the online payment methods used here are Merchant solutions, NETS, Website Payments Standard, Website Payments Pro, Wirecard AG, DBS Merchant Payment Services, Wirecard AG, GTPay, Asia Pay, etc. Cashless payment refers to electronic payment, covering everything from credit and debit card payments to digital wallets and virtual cards, mobile payment apps and IC cards payments. Apparently, it’s anytime you pay without physically handing over notes and coins. 

Payment Methods:

• Cash
• Credit Cards
• Digital Wallets
• Mobile Contactless Payments
• Bank Transfers
• Buy Now Pay Later (BNPL)

For more information visit: singaporecompanyincorporation.sg

Cost of living of Singapore 

According to a survey Singapore is one of the expensive country in the Asia Continent and cost of living here is expensive more than ninety five percent of countries in the whole wide world. Average living cost in this country also depends upon your lifestyle or your current situation, like whether you are working or a student. Cost of living varies if you are staying alone or with your family.        

The average monthly expense for a single person is approximately S$9,290 and the approx. monthly expense will rise if you want to move along with your family of four people will be S$5,850. Food is cheap compared to housing or dining. If you are staying in a city where you can go by bicycle or by walking to your university or office or live in a city with a good public transport system, then your cost of living will be much lower. Expense will also be low if you need smaller accommodation, than the bigger one.

Here are some products mentioned below, so that you will get a clear idea of the cost of living: 

For more info visit: expatistan.com

Apartment Rent

This country has the most expensive apartments in the world. It is possible for foreigners to get a posh and confortable rental in Singapore. Documnets needed are student pass for students, employment pass if you are working, work permit, etc. These documents give you the same rights as the locals have. Here you can’t rent a property for less than 90 days, landlord will tell you the same prior giving their property on rent. To rent a property there are many websites available on the internet displaying the property with prices. You can also hire a real estate agent, they will help you find a place cozy and in the budget for you. 

Fully furnished one bedroom apartment in the city centre will cost you approx. S$ 2,861 and same apartment, outside city will cost approx. S$ 1,913. A furnished studio apartment of 2 to 3 bedrooms in the city centre will cost you approx. S$ 5,500 and outside the city it will cost you approx. S$ 3,178. Finding accommodation here is challenging so asking your colleagues, friends, shopkeepers or waiters in the nearby café or restaurants will be helpful. As you wander on the streets and see some sign boards of ‘To let’ will also be useful. In many places renting a one bedroom apartment, in the city centre will cost around as much as a two bedroom apartment outside the city center. 

For more information please visit: wise.com

Taxes

According to a survey by United Nation, Singapore is a highly developed country and a tax heaven as tax rate is very low in this country.  Personal Income Tax rate in one of the lowest tax rates in the world. First you need to know the tax residency and the number of chargeable income and then you must apply the progressive tax rate to it, in order to determine the Singapore income tax liability of a person. Foreigners also pay tax in this country but the tax liability will be according to your residency status. It is important as it shows the amount of taxes an expat pays in this country with the cut off days between 60 and 183 days.

Residents are subjected to certain personal allowances and are subject to graduated tax rates from 0 to 22 percent. Non residents are not entitled to any personal allowances and are subjected to pay the tax at a flat rate of 22 percent. Concession is given on the employment income of non residents which is taxed at a higher flat rate of 15 percent or the graduated residents’ rates with the personal allowances. This country last increased its personal income tax rate for the top income tax bracket by 2 percent, points from 20 percent to 22 percent.  

For more information please visit: taxsummaries.pwc.com

Health Insurance

Healthcare service in Singapore is one of the best healthcares in the world as this nation has achieved universal health coverage through the mixture of financial system. Public statutory insurance system “MediShield Life’ covers long bills given to you by the hospital management and some outpatient treatments. Basic treatments at government hospitals are done at very low cost or almost free sometimes for the locals. With a little more money you can experience more deluxe care in private rooms. Employees of this country give more than thirty five percent of their salaries in certain savings account that is spent on the healthcare system, education, housing, etc., in which some amount is also contributed by their employers. They give facility like screening examinations, Pre-natal care and infectious disease control, with the patient accepting responsibility for little less of these costs while the government pays remaining most for it.

Public health insurance covers most citizens/residents and the system pays 70% or more of medical and prescription drug costs with remainder being covered by the patient. 

For more information please visit: pacificprime.sg

Important addresses

Singapore Changi Airport:
Airport Blvd.,
Singapore 
Ph: +65 5695 6868

Seletar Airport:   
21 Seletar Aerospace Rd 1,
Singapore 797405  
Ph: +65 6595 6868

Changi Airport International Pte.Ltd.(Corporate Office): 
60 Airport Boulevard #048-049,
Terminal 2 Singapore Changi Airport,
Singapore 819643  Ph: +65 6541 1922

Joo Koon (MRT) Subway Station:   
Singapore,
Ph: +65 6331 1000

Esplanade (MRT) Subway Station:    
90 Bras Basah Rd,
Singapore 189562

Fort Canning (MRT) Subway Station:
170 River Valley Rd,
Singapore 179038 

Embassy of Germany:       
50 Raffles Pl, #12-00 Singapore Land Tower,
Singapore 048623  
Ph: +65 6533 6002

British High Commission: 
100 Tanglin Rd,
Singapore 247919    
Ph: +65 6424 4200

Embassy of Chile:    
8 Temasek Blvd,
Singapore 038988,                 
Ph: +65 6223 8577

Embassy of Argentina:     
7 Temasek Blvd, #15-03 Suntec Tower One,
Singapore 038 987  
Ph: +65 6887 9808

Summary

Singapore, located at the southern tip of the Malay Peninsula, is known for its exceptional lifestyle and world-class amenities. It is a popular destination for studying, working, and living due to its high standard of education, healthcare, and business-friendly environment. The country experiences mild weather year-round, with calm periods during its wet seasons. It is considered a tax haven with notably low tax rates compared to other parts of the world. The nightlife here is vibrant, with lantern-lit streets, music, lively discos, and numerous lounge bars. The people of Singapore are hospitable, respectful, and friendly, contributing to the overall welcoming atmosphere of the country. Singapore is generally considered a safe country for immigrants and foreigners. It has a low crime rate and strict enforcement of laws, contributing to its reputation as one of the safest cities in the world. The government places a strong emphasis on maintaining public safety and order.