If you are thinking about packing your bags and catch your luck abroad, but you are still uncertain about your destination, sit back and keep reading, because in this article we will leave together to the discovery of Singapore city-state, the third economic and financial center in the world and the favourite destination par excellence for talents from all over Southeast Asia.
Divided from the southern tip of Malay Peninsula by the narrow Strait of Johor, the city state of Singapore dominates the top 10 most meritocratic, technologically anvanced and socially cutting edge countries in the planet.
Extremely dynamic and competitive location, characterized by a strong multiethnic and multicultural vocation, for most immigrants, tourists and job hunters coming from Eutrope, United States of America and Latin America. the first experience in the island of Singapore often proves to be an unmatched emotional and cultural shock.
Famous for its international cuisine, with dozens of mulyiethnic restaurants and countless kiosks scattered throughout the island, in Singapore you can find any kind of Indian, Chinese, Malaysian and European speciality at a relatively cheap price.
If you love shopping and the world of high tech divices, you will feel like in paradise!
In facts, Singapore is the “free port” par excellence in the whole Southeast Asia and the goods are not subjected to taxation, which means that you can get almost everything at an amazingly low price, especially softwares and high tech devices as personal computers, tablets, smartphones and so on.
If you can’t wait to hoist the sails and sail to Singapore, here you are some consideration you’d better keep in mind and a few useful tips and information you’d better read before moving to Singapore.
The good reasons for moving and living in the city-state of Singapore are many, but in today’s article we will take into consideration only the 7 most common reason that day by day push more and more foreign young talents to reach Singapore island:
Finding a well paid job and give a turning point to one’s professional career;
Exploring new business opportunities;
Investing in the fast growing Singaporean market;
Marry a Singaporean citizen in order to apply for Singaporian citizenship;
Visiting one of the most charming and legendary location in Southeast Asia;
Permanently moving and living in Singapore with the whole family and enjoy life in one of the most economically and socially advanced countries in the world;
Attending university courses in Singapore;
Moving to Singapore for finding a well paid job
Moving to Singapore with the purpose of finding a well paid job and giving a turning point to one’s professional career is one of the most common reasons that drives millions of young talents from all over the world to reach Singapore island.
Article 2 of working of Singapore immigration law, specifically on employment of foreign people within the borders of Republic of Singapore states that: for working in Singapore immigrants must show the letter of invitation from their employer, which is indispansable for applying for the work permit. The work permit is bound to a single employer and gives the right to enter and work in Singapore.
Within 6 or 12 months of staying within the borders of the city state of Singapore, it is finally possible to apply for permanent residency.
One of the most common strategies for obtaining permanent residency permit in Singapore is making investments in local market. However this kind of delocalization is not for everybody, but just for the wealthiest people who own a cospicuous amount of money to invest in Singapore.
The opportunity to apply for the hoped residence permit within the borders of the Republic of Singapore is also extended to the list of people who come together with the investor into the country, including close relatives and not married young adults.
Moreover, it’s very important to know that the kids who obtained residency permit within 16 years of age, will be called to perform military service and join Singaporean army.
All foreign investors who applied for Singapore residency permit may include into the list of candidates also their close relatives, but in this specific case the minimum investment capitals are considerably higher than the one needed for a single investor.
In case foreigner investors want to bring in Singapore with them sons older than 21 years of age, they need to make separated applications.
All investment capitals shall remain tied up for at least 5 years, however you will be able to withdraw all interests annually.
Emmigrating to Singapore for business purposes and invest in Singaporean booming market
Emigrating to Singapore with the purpose of recording a private limited company is another key reason that drives into Singapore island thousands of businessmen and interpreneurs from all over the world.
After applying for their Employment Pass, it is possible to show it to Singaporean officers and start the application procedure for recording a prvate limited company based in Singapore and get all documents that certify it. After 12 months it is possible to submit the application for residence permit.
Setting up a business activity in Singapore city-state is relatively simple: you can do it individually or though the a company incorporation.
Before submitting the application for company incorporation the founders must provide the Registrari with the following documents and details:
- Company name
- Brief description of the business activity performed by the company
- Information about shareholders
- Informations about administrators
- Company address
- Informations about the company secretary
- Memorandum and Articles of Association – MAA.
After registration the Registrar releases:
- Certificate of incorporation
- Company business profile
The minimum number of members required by the current legislation for setting up a private limited company in Singapore is one member, while the maximum number of shareholders is 50 individuals.
If the shareholder is a non resident he can be eather a natural or a legal person. The minimum capital required for the incorporation of a private limited company is 1 Singaporean Dollar or the respective equivalent in another currency.
How to obtain Employment Pass for Singapore?
There are two ways:
Find a job in Singapore – get a glance at this website http://sg.jobsdb.com/sg;
Incorporate a Company and submit the application
Getting married to a Singaporean citizen with the purpose of obtaining Singaporean citizenship
If you believe that getting married to a Singaporeean citizen automatically grants you the right to obtain Singaporean citizenship, you have to be aware that it requires some years. After getting married to a singaporean citizen you will not automatically get Singaporean citizen, but you will only be able to submit the application for residency permit and only after two years of marriage and continuous stay within the borders of Singapore city state, you will finally be allowed to submit the application for Singaporean citizenship.
Do you want to go to Singapore for tourism or for business purposes? Great news!
The current regulations about entering in Singapore for business and touristic purposes – as long as the stay in the country does not exceed 90 days – states that there is no need of any entry visa. If you want to size the opportunity to visit one of the most fashinating places in the whole Southeast Asia, you just have to make sure you bring with you a passport valid for at least 6 months, indispensable document for visiting also Malaysia, Indonesia and the wild Borneo.
Moving to Singapore with your whole family
If you are still wondering whethet it’s worth or not relocating and living with your whole family in Singapore, keep in mind that:
- Singapore actually owns one of the top quality health system in the planet and the average life expectancy around 79 years for men and 83 for women;
- crossed by a galloping economic growth, the Republic of Singapore is currently one of the states with the lowest unemployment rate in the world;
- For what concerns the quality of life, business opportunities and professional career, educational and fiscal system Singapore is a planetary model.
Studying in Singapore
Another of the most quoted reasons that drives thousands of students to move to Singapore is the possibility to have access the most excellent educational system in the world and attend the top quality university courses.
If you want to move to Singapore for educational purposes, you should know that it is esssential to apply for a Student Pass. You can easily get it by subscribing to a University belonging to the so called Institutes of Higher Learning.
If the application is accepted, you will be able to pack your bags and book your flight to Singapore. Once arrived in Singapore, you can pick up your Student Pass at the secretariat office of your university.
Did you lke this article? Did you find useful information or interesting ideas?
Thank me by sharing it with your friends and colleagues, you just need one click!
It doesn’t cost anything to you, for me it is a great satisfaction and gives me energy and motivation!
😀 THANK YOU SO MUCH! 😀
If you have a passion in any industry and you want to find out how to turn it into a successful business, if you want to learn Italian, English or German through a totally customized e-learning path structured in relation to your communication needs, email me to: email@example.com or contact me directly on Skype at: mr.b.faraci and I promise you will receive my answer within the next 48 hours!
To your success!
Dr. Biagio Faraci