- Employment Pass (EP) is the main route for professionals — requires a minimum monthly salary of SGD 5,000 (higher for financial sector) and an employer sponsor
- Singapore is very expensive — housing is the dominant cost: a 2BR condo in central areas runs SGD 4,000–8,000/month
- Singapore has universal healthcare through MediShield Life — all residents and EP holders are covered; quality is excellent
- No income tax on foreign-source income, no capital gains tax, no inheritance tax — very competitive tax structure for high earners
Singapore is one of the world's most efficient and liveable cities — a city-state that has built a first-world infrastructure and standard of living in a generation. For expat professionals, it offers a uniquely attractive combination: English as the primary business language, low income tax (0–22% progressive), no capital gains tax, world-class healthcare, extraordinary food culture (from hawker centres to Michelin-starred restaurants), and a central SE Asian location for regional travel. The trade-off is cost — Singapore is one of the world's most expensive cities, particularly for housing and cars. But for high earners in finance, tech, and commodities, the maths works.
Cost of Living
Singapore is one of the world's most expensive cities. Housing is the major cost: a 2BR condo in central areas (Orchard, Marina Bay, Tanjong Pagar) costs SGD 5,000–10,000/month; in expat residential areas (Holland Village, Dempsey) SGD 4,000–7,000/month; HDB flats (public housing, rented from permanent residents) SGD 2,500–4,000/month for a 3BR. Total monthly costs for a single professional: SGD 7,000–12,000 (€4,800–€8,200). Cars are very expensive (SGD 120,000+ for a mid-range model due to COE premiums) — most expats use taxis (Grab) and the excellent MRT.
Housing
Singapore's rental market is globally competitive. Key platforms: PropertyGuru, 99.co, and STProperty. Most expats rent condominiums (fully furnished, with pool and gym) or HDB flats. Condos in prime districts (9, 10, 11) are premium; districts 15 (East Coast), 16, and 17 offer value. The Jurong and Woodlands areas are significantly cheaper and well-served by MRT. Rental contracts: typically 1–2 years with a 1–2 month security deposit. Negotiation is possible, particularly in off-peak periods (mid-year).
Visa & Entry
Singapore's main employment visa is the Employment Pass (EP) — for professionals, managers, and executives earning at least SGD 5,000/month (SGD 5,500 for financial sector; higher thresholds for experienced candidates). Applications are submitted by employers via the MOM online portal. The S Pass covers mid-skilled workers (minimum SGD 3,150/month). The EntrePass is for entrepreneurs starting a venture-backed or innovation-driven business. The Overseas Networks and Expertise (ONE) Pass (launched 2023) is a 5-year pass for top global talent earning SGD 30,000+/month or with exceptional achievements. Permanent Residency (PR) can be applied for after 2–6 years; Singapore citizenship after 2 years as PR.
Expat Life
Singapore has one of the world's highest proportions of foreign residents — approximately 35% of the population. The expat community is extremely well-served: international schools (Singapore American School, United World College, Tanglin Trust), English-language media, and communities from every major nationality. The social scene is active — rooftop bars, beach clubs, regional travel on weekends. The expat community spans finance (Raffles Place), tech (one-north, Jurong), and regional HQ (Mapletree, Changi). Internations Singapore has one of the world's largest chapters.
Singapore suits finance, tech, commodities, and regional business professionals who want the best SE Asian hub with English as default business language; high earners attracted by low taxes and no capital gains; families prioritising world-class international schools and exceptional safety; and anyone building a SE Asian regional business.
Singapore's cost of living — particularly housing — is among the world's highest. The city-state's small size and strict regulations (no gum, strict drug laws, heavy fines for minor offences) require adjustment. Social housing (HDB) is not available for purchase to foreigners (only rent). Singapore summers are uniformly hot and humid (28–33°C year-round). The recent COMPASS scoring system for EP applications has raised bars for sponsorship.
Practical Tips
- Register with IRAS (Inland Revenue Authority of Singapore) as soon as you start work — your employer will handle CPF contributions, but you need to file taxes independently if you earn above SGD 22,000/year. Singapore's tax year runs January–December; filing deadline is April 15. Tax rates are 0% up to SGD 20,000; max rate is 22% on income above SGD 320,000.
- CPF (Central Provident Fund) contributions: EP holders are exempt from CPF in their first 3 years (and can opt out beyond). PR holders and citizens contribute 20% of salary (employee) plus 17% (employer) to CPF for retirement, housing, and healthcare. Converting from EP to PR triggers CPF obligations — factor this into financial planning.
- MediShield Life is Singapore's universal health insurance — automatically covers all EP holders and Singapore residents. It covers Class B2 and C ward hospitalisation. Most expats add an employer-provided group insurance plan or a private shield plan (Prudential, AIA, NTUC Income) for Class A/B1 private hospital coverage.
- SingPass is Singapore's national digital identity system — register immediately at singpass.gov.sg. It's required for accessing virtually all government digital services, filing taxes, healthcare apps, and many private services. Link your phone to SingPass via the SingPass Mobile app.
- Hawker centres are Singapore's greatest food institution — government-subsidised covered food courts serving every Asian cuisine from SGD 3–8 per meal. Eating at hawker centres regularly can keep food costs to SGD 300–500/month. Tanjong Pagar Plaza, Maxwell Food Centre, and Tiong Bahru Market are among the best.
- Housing negotiation: rental prices are often negotiable by 5–15%, particularly for 2-year contracts or if the unit has been vacant for more than 2–3 months. Use a property agent (free for tenants in Singapore — commission is paid by the landlord) and be prepared to move quickly — desirable units go within days.
Frequently Asked Questions
What is the Employment Pass and do I qualify?
The Employment Pass (EP) is Singapore's main work visa for professionals. From September 2023, the minimum qualifying salary is SGD 5,000/month (financial sector: SGD 5,500). The COMPASS points system assesses: salary relative to local benchmark, qualifications, company diversity, and skills bonus. Applications are submitted by your employer — you cannot self-apply. Processing: 3 weeks online, 8 weeks if manual assessment required.
How do Singapore's taxes work for expats?
Singapore uses a progressive income tax: 0% on first SGD 20,000; 2% up to SGD 30,000; scaling to 22% above SGD 320,000. Only Singapore-sourced income is taxed — foreign income remitted to Singapore is generally exempt. No capital gains tax, no inheritance tax, no GST on financial services. Tax residents (183+ days/year or employed for full calendar year) receive lower rates. The effective tax rate for a SGD 150,000 annual salary is approximately 11.5%.
How can I get Singapore Permanent Residency?
Permanent Residency (PR) can be applied for after typically 2–6 years on an EP or S Pass. There is no fixed timeline — the ICA assesses based on economic contribution, integration, family ties, and length of stay. PR applications are submitted via myICA portal; processing takes 4–6 months. PR status is initially for 5 years and renewable. Citizen-eligible after 2 years as PR (some wait longer). Singapore has dual citizenship — you must renounce other citizenships.
Are children's schools good in Singapore?
Singapore's education system is world-class — consistently top-ranked globally in PISA assessments. Local public schools are excellent but taught largely in Mandarin alongside English. Most expat families use international schools: Singapore American School (SAS), Tanglin Trust, United World College, and many others. International school fees run SGD 25,000–50,000+/year. Many employers provide education allowances for EP holders — confirm this in your employment package.
Official Resources
Updated 2026-04-12