Living and Working in Singapore

Quick links: Accommodation / Bank Accounts / Phones / Healthcare / Pay & Bens / Tax / Visas / Travel

Accommodation

Renting property in Singapore is a challenge, due to availability and costs. Apartments (Units) in Singapore can vary hugely in price, depending on their size and location. Before choosing where to live, it's advisable to check the public transport services, especially if you're commuting to a job from the suburbs.

The majority of expatriates reside in rented accommodation. Condominiums often include gyms, swimming pool, golf driving range, squash courts and tennis courts. You will see these condominiums advertised in the local press, and Estate Agents will escort you around Singapore to show you a selection of apartments.

As a rough guide, a two-bedroom flat in Singapore would cost upwards of S$1,800 per month, with a three-bedroom flat in a central location costing upwards of S$3,500 per month. The popular Expat areas to live in include East Coast and Holland Village.

The following websites are recommended to find information on renting properties in Singapore, whether you want to rent with a friend, share or buy:

Serviced apartments

If you need temporary accommodation, serviced apartments are a good option. Those situated in the prime areas of Orchard and Newton Roads charge between S$700 and S$1900 a week for a one bed serviced apartment, and from S$1300k to S$2100 a week for a two-bedroom. Many of them are fully-furnished and provide basic home conveniences such as cooking appliances, laundry and maid services.

You can negotiate for special corporate, family or long-term lease terms. Renting an HDB (housing and development board) flat under SHiFT Scheme for Housing of Foreign Talent (SHiFT) is designed to meet the housing needs of foreign professionals living in Singapore. The scheme is administered by the Jurong Town Corporation (JTC).

For more information visit: http://www.jtc.gov.sg/ or email: hdg@jtc.gov.sg Tel: +65 6560 0056

The average price of a three-room flat (2-bedrooms/880sq.ft) under the SHiFT scheme is S$700 per month.

Bank Accounts

To open a bank account in Singapore you will require proof of identification such as a passport or driving licence, proof of an address in Singapore and as a precaution, a reference from your bank in your home country. Most banks also require a minimum initial deposit.

The majority of banks and ATMs will allow you to withdraw from international bank accounts, provided your bankcard has an international symbol on it, such as Cirrus. We recommend that before departure for Singapore you check with your bank that you can use international banking services.

Banking hours: Usually from 9.30am - 3pm weekdays, and 9.30am - 11.30am Saturdays. Some banks have branches that are open longer.

The major banks of the world are mostly represented here. Singapore also has a cashless payment system called NETS for your convenience. Most Singaporeans use this service, and if you plan to stay in Singapore for an extended period, you should too.

The leading banks in Singapore include:

Mobile phones

The main mobile phone providers in Singapore are SingTel, StarHub and MobileOne.

Healthcare

As part of the sponsorship, most companies will also register you in their employee health scheme. You may want to supplement this with private health insurance.

Singapore has a comprehensive network of outpatient polyclinics and private medical clinics that provide medical treatment, preventive healthcare and health education.

There are seven public hospitals comprising five general hospitals, a women's and children's hospital, and a psychiatry hospital. General hospitals provide multi-disciplinary inpatient and specialist outpatient services, and 24-hour emergency departments. Six national specialty centres provide cancer, cardiac, eye, skin, neuroscience and dental care.

Useful websites

Pay & Benefits

Singapore offers competitive salaries with bonuses and gym allowances. Additional benefits such as transportation/car allowances, housing, childcare, payment of school fees, entertainment allowances and other work-related benefits are also available through some expatriate packages.

Tax

Non-residents are taxed at a flat rate of 15 per cent of employment income. Tax returns are based on the calendar year and must be filed by 15 April.

All employees in Singapore have to participate in the Central Provident Fund. CPF is a comprehensive social security savings scheme to which both employers and employees have to contribute. CPF covers retirement, healthcare, home ownership, family protection and asset enhancement.

Foreigners on employment passes or work permits who are physically present or working in Singapore for 183 days or more per year are required to pay income tax. Taxes are imposed on all income derived in Singapore and any overseas income remitted, transmitted or brought into Singapore. Exceptions are for those on short-term employment under 60 days and those whose home countries have tax treaties with Singapore entitling them to tax exemptions. Singapore currently has tax treaties with 56 countries.

The consumption tax in Singapore (known as Goods + Services Tax - GST) is currently 7%.

Visit www.iras.gov.sg for further information.

Visas

Singapore is keen to attract foreign professionals; skilled workers, graduates and anyone else who can help contribute to the Singapore economy.

You’ll probably need an Employment Pass if your salary is more than S$2,500 a month. There are different kinds of Employment Pass, depending on your exact salary and degree/qualifications. It is a simple process; you wait in line, pay your money and you get your visa.

Work Holiday Programme

The Ministry of Manpower introduced a Work Holiday Programme (WHP) in December 2007 allowing undergraduates and graduates from overseas to experience living and working in Singapore for a short period. There is a growing trend of well qualified young people travelling abroad to gain exposure to and experience of foreign cultures.

A positive experience of living and working in Singapore under the programme encourages many of them to work in Singapore when they graduate, or at a later stage in their careers. This programme helps to enhance Singapore's reputation as a talent destination, valued for its working and living experiences.

The Work Holiday Programme (WHP) criteria:

Open to graduates and undergraduates age 17-30 from universities in the following eight countries: Australia, France, Germany, HK, Japan, New Zealand, UK, US
Six months work permit
Initially open to 2000 applicants
No pay or job type restrictions

Details can be found at the Manpower Ministry website:

Travel

You will need to obtain a Singapore driving license if you are planning on staying longer than six months. It is, however, expensive to run a car here and not strictly necessary when you consider the quality of the public transport systems and the size of Singapore overall (only 660 sq km).

The main mode of public transport is the Singapore Mass Rapid Transit (SMRT) system. Trains are reliable, frequent and inexpensive.

While not as cheap as the SMRT or catching a bus, taxis are an affordable option in Singapore.