Every year, tens of thousands of people from all over the world move to the island of Singapore, which is located on the southern tip of Malaysia. In 2010, Singapore awarded nearly 50,000 residence permits and citizenships to foreigners.
Traveling and Immigrating
Around 7,000 Singaporeans live and work in the former Chinese colony. Most of them are employed by one of the approximately 1,200 German companies, whose number is growing steadily. The climate of Singapore is humid and is 31 to 33 degrees Celsius, at night it cools down to 23 degrees Celsius with only minor seasonal fluctuations. The average humidity is about 84 percent. When you are applying for Singapore PR then the right options are there.
The south-west monsoon from June to September and the north-east monsoon from December to February bring heavy rains. Citizens only need a passport that has to be valid for at least six months, but they are granted a stay of up to 90 days.
For longer stays, a residence permit issued by the Immigration & Checkpoints Authority (ICA) is required. For work permits, including traveling partners, the Ministry of Manpower (MOM) is responsible.
Cost of Living and Rent
The cost of living in Singapore is high – after all, the standard of living in Singapore is one of the highest in Asia. Singapore ranks 9th in the world’s most expensive cities! The rents are expensive and only fruits and vegetables and local products are cheaper in relation to Germany.
Most children of citizens living in Singapore visit the paid German school. Depending on the level, school fees per child will be between S $ 13,800 and S $ 17,000 a year plus a S $ 2,675 admissions fee.
Neither an international driver’s license nor the German driver’s license will be recognized. One year after entry at the latest, the Singaporean driver’s license must be applied for.
Tips for Starting a Business in Singapore
If you’re planning to start a business, borrow, apply for building permits, it’s all easier in Singapore, according to a World Bank survey. For the mini-state ranks first in the ranking of the most business-friendly countries worldwide!
The strict laws, but also the crackdown on the city-state is legendary. For example, if you carelessly throw away a cigarette or chewing gum, you will face a fine of 500 euros.
Finance, IT, logistics, electronics and mechanical engineering as well as chemicals are booming industries. In just 40 years, Singapore has managed to move from a third world country to an international business center. The government is working hard to promote economic growth. There is no corruption, but no social system – only births are funded by the state.
A simple tax law combined with low taxes makes it easier to start a business in Singapore. Within a few days, a company is founded with a minimum of bureaucracy. Small businesses and start-ups are hardly taxed at all, as well as capital gains, not as in Singapore, double taxed.