Singapore is considered one of the best places to reside in. That is because it maintains a high quality of living that is perfect for any kind of lifestyle. It is even considered as having the best quality of life among all Asian cities. Although it has high costs of living, its economy stays at the top among other countries which is a factor that makes it one of the best options when it comes to residency.
It was also placed in the second spot as the world’s best city from an expat experience. Obtaining a work visa in Singapore is also easy and quick that is why more and more individuals want to relocate here. There are many other factors why Singapore makes a good candidate for relocation. Here are some of the advantages of living in Singapore.
Advantages of living in Singapore
If you are a foreigner that wants to acquire a work visa and relocate to other countries, safety should be on top of your priority. living in an unfamiliar face is hard enough that is why you have to make sure that it would be safe for you. In 2017, Singapore ranked as the second safest city in the world. tourists and other expats have many accounts of how safe it is to walk around the streets of Singapore.
It also has one of the best infrastructures in the world as it is technologically advanced compared to its neighboring countries. It has state-of-the-art public transportations and facilities which make it easier to navigate this small country. Its MRT and LRT lines are strategically placed to ensure mobility across the country.
Another important consideration when you want to move to another country is the tax charges. Singapore has a relatively low tax and offers incentives for foreigners. Singapore levies 20% on personal income individuals in the highest tax bracket. It even has the lowest and cheapest charges even when it comes to big corporations. That is why individuals are very keen to get a Singapore employment pass.
If you want to know more, here are the top 3 work visa options in Singapore.
#1 Professional, Technical Personnel and Skilled Workers scheme (PTS scheme)
The PTS Scheme is designed for individuals that have a Singapore employment pass, Entrepass, or PEP to have the opportunity to be a permanent resident in Singapore. A Singapore employment pass is just a permit for an individual to legally work here. When they want to permanently relocate to Singapore, they are given the chance to apply via the PTS scheme. It can be estimated that 95% of working individuals that have the Singapore employment pass and other working permit help attain their permanent residency through this scheme.
#2 Global Investor Program scheme (GIP Scheme)
Aside from working individuals with a Singapore employment pass, Investors can also have a way to be a permanent resident in Singapore. Through the global investor program scheme that is powered by the economic development board and the ministry of manpower, investors can apply for a permanent residency in Singapore. However, there are strict qualifications for an investor to be eligible to apply.
There are two options in which both options require you to invest a minimum of S$2.5 million. This investment can be to an already existing Singapore company or a new business entity. The business that you can invest in can be in an industry that is deemed legal in Singapore. This permanent residency scheme is an easy process as long as your money is ready to be invested.
#3 Foreign Artistic Talent scheme (ForArts)
Singapore does not limit the opportunity to be a permanent resident in their country to work visa holders. Even if you are not a professional or an investor, you can have the chance to apply for a permanent residency visa for an artistic talent scheme that is for artists. This scheme was introduced back in 1991 to acknowledge the talents and contributions of various international artists. This also allows Singapore to have a diverse and varied culture of artistry. If you are an individual with exceptional talent, you will not need a work visa to be able to apply for permanent residency in Singapore.
These permanent residency applications are easy but they can be overwhelming especially for foreign individuals. That is why it is recommended to hire professionals to help you prepare and settle important documents for your work visa and PR application. Ren Ai Group is one of the most reliable agencies that can help you with these procedures. You can visit our website today and explore your opportunities.