Top 7 Reasons Why You Should Consider Working In Singapore
Nowadays people started to consider working in Singapore because of its pro-business environment and booming economy. It is an attractive destination for companies to set up their establishment.
This country offers a multitude of career opportunities for those looking for an overseas job. Besides the career opportunities, there are several other benefits of working in Singapore.
Singapore comes across as an attractive country for a number of reasons. It’s the easiest place to do business, has a high living standard and top education system and it also has great intellectual property protection laws. The nation is ranked as one of the healthiest in the world.
The benefits of working in Singapore are HUGE! To give you an idea, let me list a few reasons why starting your career or building your business in the City of Lions is an amazing opportunity.
Lucrative salary
Singapore’s economy is opening up again as the pandemic situation come towards its end. Singapore companies are hungry to acquire overseas specialists, offering top salaries and lucrative benefit packages to attract highly-skilled workers and talents.
Working in Singapore has its benefits. Research by PayScale shows that software engineers earn a median salary of 3.500$ per month, which works out to up to 72.000$ per year. Even general practitioners earn 80.000$ per year.
Have you ever thought of being an Elementary school teacher? Being one can help you earn 34.000$ per year in Singapore! Working in Singapore is a good idea for people who take up part-time jobs as well. For example, being a waitress can bring you 1100$ per month and the list just goes on.
Infrastructure & Technology
Working in Singapore is a pleasure, thanks to the best infrastructure in Asia and world-class technology. Singapore is the most prosperous country in Southeast Asia and one of the wealthiest countries in the world.
Working in Singapore as a foreigner will also be a great experience because the advanced and well-developed infrastructure and technology of Singapore contribute to its high standard of living.
The government invests heavily in developmental projects so that Singaporeans can enjoy a good quality of life at home and work.
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A flexible personal tax system
Estimating and paying your taxes in Singapore is a relatively easy process which approximately takes about 30 seconds to file an online tax return.
If you are a PR working in Singapore and earn less than SGD 22,000 a year, your annual tax rate is 0%. On the other hand, if you earn more than $320,000 annually, then your tax rate can be up to 20%.
Non-residents will have to pay 15% of their income and they are also exempt from any taxes in Singapore on their overseas earnings when those earnings are brought into the country.
Easy process for obtaining PR
Have you been living or working in Singapore for over a year? If you are thinking of getting a permanent residency, then obtaining one would be a very flexible process for you. The whole system is fairly streamlined and easy to do online.
A few factors that will put you in a favorable spot for obtaining a PR are – people aged below 50, holding university degrees from Singapore institutions, and being fluent in one of the four local languages spoken in Singapore, i.e. English, Malay, Chinese, & Tamil.
These will help you earn extra points and the processing time can take up to six months.
Get a work permit easily
With a small population and declining fertility rates, Singapore is very keen to attract more people in order to boost the economy and keep the country prosperous.
If you have a job offer in Singapore, the process of applying for a Singapore work permit is very straightforward. You’ll know the outcome of your application within one working day, which is fast considering that many countries require weeks or months to complete the same application.
If you’re a business owner planning to open up your business in Singapore, or a start-up entrepreneur trying to grow your company on the island, their process is going to be even easier.
You’ll be even granted a long-term Singapore work permit if you’re an entrepreneur. The renewal process is also fast and simple and you’ll get a residence permit for the same time period. More reasons for you to consider working in Singapore, isn’t it?
Political stability
Your business and you as an employee are closely connected with the policies, laws, and rules that are created by the governmental body of Singapore, and your success counts on them.
Singapore is always striving to improve its business environment by introducing new rules for tax reliefs, and other business regulations.
Companies set up their bases and consider working in Singapore because the government is known for conducting open, fair, and consistent policies toward businesses.
They’re constantly introducing new laws, tax alleviations, and regulations to raise the country’s business ecosystem to a higher level.
Singapore’s government is well run and orderly because the majority of the Parliament has had the People Action Party in power for a very long time.
No corruption & lowest crime rates
Now you’ve seen all the benefits of working here, you may ask is Singapore safe?
The Corrupt Practices Investigation Bureau is an independent body that has made it its mission to uphold Singapore’s laws since 1952. They can impose heavy fines and long-term jail sentences on anyone that breaks the rules. Even minor crime offenders are treated with the utmost severity.
Singapore even ranks 5th among the least corrupted countries in the world! It has taken huge steps to maintain a bribe-free society through various reforms and practices set in place.
When living and working in Singapore, you don’t need to worry about your belongings getting stolen or your life is in danger. This country also has a clean business environment and you don’t need any special connections to get anything done.
To Sum It Up…
There are many reasons why Singapore is chosen as a long-term destination to live and work. You will have the best amenities and your living experience in Singapore will be amazing as well.
Along with being a great place to work, it is also one of the best places with a thriving nightlife. You’ll get to experience Singapore’s rich culture and maintain a perfect work-life balance. Singapore offers wider job opportunities and fosters growth in your life as well as your career.
If you want to set up your business and move to the next level, check out our article on Starting Your Business at Any Age!
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