Combined with its ranking as the place with the best quality of life in the world, these trends serve to increase Singapore's attractiveness for expats looking to move to the region and for companies looking to establish a regional hub in the country, given the lower cost of hiring expatriate staff, he added. While expatriate salaries in Hong Kong increased by less than 1%, employers were able to benefit from lower housing costs and reduce the amount of financial support provided for housing compared to the previous year. The Republic will also be appealing to companies seeking to establish a regional center, given the cheaper cost of hiring expatriates, he added. Once upon a time, Singapore was considered an expat paradise with the promise of big paychecks and comfortable benefits, but it seems that times are changing.
SINGAPORE — Singaporean companies spent less on employing expatriate middle managers last year, with overall salary packages marked by reduced profits and a drop in wages. Globally, Japan surpasses the UK as the most expensive place to send workers to, with an average expatriate package costing $405,685.For an English-speaking expatriate living in Singapore, there are many international schools to choose from, including many that follow the Baccalaureate (IB) Curriculum. The buyer normally funds the rest with a bank account from the Central Provident Fund (which form a key part of Singapore's social security system), but for expats this amount will likely have to be paid in cash. A designated employer or employment agent will request this document on behalf of those who wish to live and work as expatriates in Singapore.
The Entrepreneur Pass (EntrePass) allows entrepreneurs to enter Singapore, while the Personalized Employment Pass (PEP) allows high-earning candidates to apply directly. Expats with a few years of experience in a professional occupation can expect to earn a good salary in Singapore. In Singapore, expats can get a fixed-rate or variable-rate mortgage for up to 60 to 80% of the value of the property. Singapore had the nineteenth highest payment package worldwide and the ninth highest in Asia for mid-level expats last year, due to minimal increases in personal taxes and extremely low tax-related costs compared to most other places in the rankings of the ECA, said Mr.
Quane. The most popular industries for expats in Singapore are information technology (IT) services, banking and education.