15 key benefits of living and working in Singapore
Most people want to live and work in Singapore, because is the easiest country to carry out business operations. Singapore has obtained many accolades in different areas such as its educational standard, and quality medical system. It will surprise you to know they have been ranked as the healthiest nation in the world. There are different things that make people relocate or begin a career over there, and we are going to see them inside this article.
Key benefits of living and working in Singapore
The following is a list of benefits one will gain as a resident and worker in Singapore:
They have a well-paid salary:
As their financial economy is flourishing, companies in Singapore are looking for more professionals they can employ and also offer a good salary to highly skilled talents or worker. The average salary is S$3,500 each month, for instance, software engineers can get a salary of around S$80,000 per annum, while primary school teachers can earn S$34,000 every year.
The second most globalized economy in the world:
They have a high level of productivity in the country and also competitiveness. Their income wages are on a high side, job employment is on the increase, outstanding work conditions are increasing at a geometrical rate, and also a good climate to invest. All these have enhanced the yield of their economy.
Simple tax system:
Paying taxes in Singapore is stress-free and usually takes within 30 seconds for you to file an online application. If you have a residence permit in Singapore, your personal taxes can range from 0% if your income is less than 22,000 per annum. Non-residents are also required to pay a fixed rate of 15% of all the income they have gained in Singapore.
Getting permanent residency is easy:
Permanent residency is trouble-free as long as you have resided in Singapore for more than a year. If you feel you are having a good time in Singapore you can apply for a permanent resident card. The entire process can be done online with less stress. You can decide to add detailed information about yourself such as name, age, educational background, working experiences, and others. However, you can easily obtain Singapore citizenship by investment.
Easy access to work permit:
Singapore has a total population of five million people. The country is open to employing foreigners that can add to their labour force in order to keep on boosting its economy to a greater height. If you are working in Singapore already, obtaining a work permit won’t be difficult. The entire procedures involved in this are quite simple, and the resident permit comes along with a work permit.
Simple adaptation process:
English happens to be the country official working language. As a result of this, there is nothing like a language barrier that will interfere with business transactions. In terms of food; there are numerous restaurants with different delicacies. A typical Singaporeans are very comfortable with visitors from other countries. They are free-minded people with no form of racial discrimination.
Low rate of crime and corruption:
Globally, Singapore is ranked as the fifth least corrupted country in the world. They have many law enforcement policies that help to checkmate crimes and corruption. Most of their penalties for any ill-mannered acts come with long-term jail and also a huge fine of up to S$100,000. People living and working in Singapore are carefree because their properties can’t be stolen and their life is secure.
Becoming a Millionaire is painless:
According to statistics, most Singapore millionaires accumulated their wealth within 10 years of working. This is the fastest rate one can get in the world. The country has the highest density of millionaires in the world with 8.8% of the total number of the population having assets of more than one million US dollars. This occurrence happens as a result of the simplicity of owning a business in Singapore.
Singapore’s education is top-notch; many scholars are going there to acquire a relevant degree in one of the universities we have in Singapore. There have different courses one can obtain a degree such as Law, Medicine, Public policy, Computer Sciences, and others. However, foreign and indigenous students can apply for scholarships and government grants.
Good political stability:
Business owners and employees in Singapore can succeed due to the fact they don’t depend on any government policies to operate. In Singapore, governments conduct an open policy towards bringing new laws and regulations in order to improve the business environment. There is no way the government can introduce any bad policy to affect businesses.
Businesses can be operated within three days:
In the world, Singapore has been ranked as the number one country of operating a business by the World Bank. Entrepreneurs can start running their businesses within three days. The entire registration process can be done online within a few hours after making a fixed payment of S$65. Then you can request for a further assistant from a body known as the Accounting and Corporate Regulatory Authority (ACRA).
Ample of flexible benefits:
Businesses in Singapore offer their workers different benefits such as retirements, education, transport, healthcare, education, and childcare benefit schemes. These benefits are still increasing and also give employees an opportunity to trade off their monthly salary for benefits and vice versa.
Nice urban environment:
Singapore employees are being employed in some of the most eye-catching architectural edifices in the world. Their environment allows conducive living and work for both residents and foreigners from different countries. This is one of the reasons their level of productivity is on the increase.
Adoption of new technology:
Singapore is known as home for different technology giants such as Amazon, Google, and Microsoft. They have tended to adopt recent technology at a cheap rate that can’t be compared to any big international markets. There are intense innovation and research that are going on within the country. This implies new opportunities available in numerous professional sectors.
Support for start-ups business:
The Singapore government provides friendly innovative polices to startup businesses. They also offer grants, tax incentives and other assistance to startups. The government also reduces the rate of labor costs of operating a new business. These benefits are not mainly for indigenes, but for foreign business owners too.
Singapore is a free country without any forms of sentiment which have seen in all these benefits that have been listed above. There is no way a person with strong determination wouldn’t achieve his or her dreams in as much he or she becomes a law-abiding citizen in Singapore.