Relocating to Singapore

SINGAPORE

Relocation & Recruitment Advice

AP Executive recruit for executive jobs in Singapore so if you are looking for positions in this area please do not hesitate to contact  our dedicated consultants. 

Overview

A leading financial and business hub in Asia, Singapore, also popularly known as the Lion city, is an island country in Southeast Asia, strategically situated at the crossroads of Far East and the West. It was founded as a British trading colony in 1819. It joined the Malaysian Federation in 1963, but separated two years later and became independent. It subsequently became one of the world's most prosperous countries with strong international trading links (its port is the world's busiest in terms of tonnage handled) and with per capita GDP equal to that of the leading nations of Western Europe. Singapore’s economic prosperity is inextricably linked with the finance sector, which continues to grow and expand, making the country the fourth most competitive financial centre in the world, behind New York, London and Hong Kong (The latest Global Financial Centres Index (GFCI), 2014). The financial service sector is highly specialised, dynamic and technologically advanced.  For nine consecutive years, Singapore has consistently retained the top position as the " Easiest place to do business" in a survey by the World Bank. The country is touted for its business-friendly policies, which includes minimum red tape, low registration fee and liberal visa norms, attracting expat entrepreneurs globally.  Apart from finance, tourism and exports contribute significantly to the country’s economy. Singapore is one of the most popular tourist destinations in the world. While the skyline is dotted with high-rising skyscrapers, distinct cultural areas such as Chinatown and Little India with traditional heritage buildings, offer an interesting mix of modern and traditional architecture. Several historical buildings, reflecting the legacy of the colonial empire in Singapore, are now used as seats of diplomacy.  It has a vibrant cosmopolitan and culturally diverse society, with a significant expat population from India, China, Malaysia and Eurasia. English, a widely used and one of the four official languages, binds together the different nationals and is the second mother-tongue language for most expats.   

Why choose Singapore

Singapore, a highly developed and successful free market economy, enjoys a remarkably open and corruption-free environment, stable prices and a per capita GDP equal to that of the Big 4 West European countries. The country attracts global talents and foreign investors by providing a progressive and cosmopolitan environment with excellent infrastructure, favourable tax system, stringent regulatory measures and good connectivity for business travels and trade. The government’s commitment to providing a pro-business environment can be seen in the fact that it takes about 1-2 days to incorporate a company in Singapore, while in other countries it can take more than a month. With plenty of job opportunities and relaxed immigration policies, relocation to Singapore is much easier than you anticipate. The country aims to attract the best talents who can contribute significantly to its booming economy. Singapore’s strategic geographic location coupled with unparalleled connectivity via air, sea and IT/Telecommunication networks make it convenient for businesses to develop operational ties with other leading markets in Asia.  To ensure a high-quality life for residents and expats, Singapore provides excellent public services, world-class healthcare and education facility, endless opportunities for leisure and recreation and a clean, safe environment. 

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Requirements to set up a company

Singapore adopts a business-friendly approach, and foreign companies have to follow a simple and straight-forward registration procedure. All businesses, irrespective of the legal structure, must be registered with the Accounting & Corporate Regulatory Authority (ACRA).

For more information on the registration process, please follow the step-by-step guide provided in the link: 

Guide to setting up a business  

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Requirements for employees wishing to relocate

It is important to find a job before relocating to Singapore, so that the employer can apply for an Employment Pass (EP) on the applicant's behalf.  The Employment Pass is equivalent to the work visa.  Owing to the significance of the financial and banking sector, most job vacancies are with wealth management firms, financial institutions, banks, insurance agencies and foreign exchange companies.   There are different types of EP and is based on the salary and the type of job.   Employment Pass Scheme   The Employment Pass (EP) is rolled out to skilled employees who are hired by companies/ government organizations in Singapore. There are certain pre-requisite conditions to avail this scheme such as fixed monthly salary of more than S$3,300 and a valid degree from a reputable university. An EP is initially issued for 1-2 years but is renewable as long as the applicant continues working for the same company.   S Pass Scheme This is issued to mid-skilled employees, earning a fixed monthly salary of at least $2,200. (w.e.f. 1 July 2013). S Pass applicants need not have a degree, as a technical diploma is also acceptable for this scheme. S Pass is initially issued for 1-2 years, but is renewable as long as the applicant continues to be employed by the same employer.   Personalised Employment Pass (PEP) Scheme   This is a flexible version of Employment Pass. You can freely switch jobs as it is not tied to a specific employer. It is valid for 3 years and is non-renewable.  

Helpful websites

www.visitsingapore.com

www.gov.sg

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