When relocating to Singapore, one of the biggest concerns is the living costs. Singapore addresses both average and high net worth individuals, as salaries are competitive and relocation facilities are given to those working within certain companies in the city-state. Expatriates may also benefit from relocation packages when working for a Singapore company, such as transportation allowances, housing and childcare, and other work-related compensations. Also, many surveys show Singapore as a cheaper city than Beijing and Hong Kong. Also, due to the tax facilities, Singapore is one of the most desired cities in the world to live and work in.
Foreign citizens moving to Singapore can import their household goods duty-free. However, they must know that cars, liquor and tobacco are subject the goods and services tax (GST), the equivalent of the value added tax in Europe. In order to import household goods duty-free in Singapore the following conditions must be respected:
Foreign citizens must also submit with the Singapore Customs Authorities:
Foreign citizens may also import their car to Singapore provided that they apply for GST payment and duty permits. Our specialists in company formation in Singapore will provide details about the necessary documents for importing your car when relocating.
Relocation to Singapore also implies finding the right accommodation. Singapore provides a wide range of real estate property foreign citizens may choose from depending on their needs and financial status. The real estate market in Singapore is divided into the public and private sector. Expatriates can also opt for a HDB (Housing and Development Board) accommodation in the public sector provided that they meet certain criteria. Among the types of apartments available for foreign citizens in the private sector are condominiums and bungalows.