Expat Guide to Singapore

Everything you need to know about living and working in Singapore.

Employment Pass (EP) requires $5,000+/month salary and employer sponsorship — processed through the COMPASS framework points system. EntrePass targets startup founders with innovative business plans. S Pass is for mid-level skilled workers (minimum $3,150/month). Dependent Pass allows spouses/children to accompany EP holders. Personalised Employment Pass (PEP) for high-earning professionals ($12,000+/month). Immigration is strictly enforced — overstaying or working without proper visa results in severe penalties including jail time. Singapore is one of the world's most difficult countries for independent/freelance immigration — you generally need employer sponsorship or to establish a company.

Progressive income tax from 0% to 22% (increasing to 24% for income above S$1 million from 2024). No capital gains tax — a major advantage for investors and entrepreneurs. Competitive corporate tax of 17% with extensive incentives that can reduce effective rates to single digits. No tax on dividends (single-tier system). No inheritance tax. CPF (Central Provident Fund) contributions are mandatory for citizens and permanent residents — employers contribute up to 17% and employees up to 20% of salary. These go to retirement, housing, and healthcare accounts. Foreigners on Employment Passes do not contribute to CPF.

Singapore has one of the world's best healthcare systems. Public hospitals (Singapore General Hospital, Changi General Hospital) provide excellent care with government subsidies. The 3M system — MediSave (healthcare savings), MediShield Life (catastrophic insurance), and MediFund (safety net) — provides comprehensive coverage for citizens and PRs. Expats on Employment Passes need private insurance — employer-provided plans are standard. Private hospitals include Mount Elizabeth, Gleneagles, and Raffles Hospital. Costs are high by Asian standards but still lower than the US. A GP visit costs S$30-80, specialist appointments S$100-300.

DBS (Development Bank of Singapore), OCBC, and UOB are the three major local banks — all offer excellent digital banking. Opening an account is straightforward with an Employment Pass: visit a branch with passport, EP, and proof of address. DBS's fully digital digibank is popular. GrabPay and PayNow (linked to phone number or NRIC) are ubiquitous payment methods. Singapore's banking system is world-class — fast transfers, excellent apps, high security. For international transfers, DBS Remit offers competitive rates to many countries. Wise also works well. Singapore is a global financial center — wealth management, investment, and premium banking services are readily available.

8.6

Singapore

💰 $3500/mo🌡️ 27°C

The ultimate Asian hub — world-class infrastructure, unmatched safety, incredible food, efficient everything, and a gateway to all of Southeast Asia. ...