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What are the benefits of working in Singapore?

Posted on February 20, 2023
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Is Singapore good country to work in?

Singapore is one of the four Asian countries which have a developed economy. The job market in the country is booming, which is attracting immigrants from different countries to migrate to Singapore. Immigrants want to work in Singapore because of the excellent quality of life. Employers are providing high salaries to attract foreign workers.

Employment opportunities in Singapore

There is a high demand of professionals in different sectors in Singapore like healthcare, marketing, technology, etc. The unemployment rate in Singapore is 2.0 in Q3 of 2022. Total employment in the country grew by 75,900. Chances of growth in employment are also predicted in Q4. Some of the most in-demand jobs along with their salaries in the country are:

Job Position Salary per Annum (SGD)
Chief Financial Officer $300k – $450k
HR Director $240k – $310k
IT Cyber Security Manager/Specialist $190k – $350k
Supply Chain & Logistics Specialist/ Head of Global Sourcing $180k – $400k
Regional Marketing Manager (Consumer Goods, e-commerce) $180k – $240k
Head of Marketing/Communications Director $160k – $250k
Research & Development Director (Life Sciences/Biomedical Engineering) $150k – $260k
Nurse Manager / Nursing Director $110k – $200k
Data Engineer/Network Engineer $80k – $180k
Project Manager $80k – $200k

Benefits of working in Singapore

Singapore has a strong economy and there are many jobs available in the country. There are many benefits of working in the country and some of them are discussed below.

Attractive job opportunities

The job market in Singapore is full of career opportunities and occupations are available in sectors like marketing, technology, healthcare, engineering, etc. Employers in the country are eager to employ foreign skilled workers. Companies are offering high salaries to immigrants to attract them. Here is the list of sectors in the country that are facing talent shortage:

  • Operations and logistics
  • Sales and marketing
  • Manufacturing and production
  • IT and data
  • Front of office and customer service

Lucrative salaries

There are many sectors in Singapore where jobs are available and employers are paying high salaries to the immigrants. The Ministry of Manpower publishes wage data every year for various occupations. The highest median salaries, according to the latest report, are available in the table below:

Occupation Median Salary (Basic) Median Salary (Gross)
Urologist $19,692 $20,000
Cardiologist $16,385 $17,359
Securities and finance broker $16,628 $16,986
Gastroenterologist $15,400 $15,906
Chief information officer/ Chief technology officer/ Chief security officer $13,408 $14,191
In-house legal counsel (except judiciary, ministries and statutory boards) $12,529 $13,347
University lecturer $12,303 $12,811
Financial risk manager $12,531 $12,750
Strategic planning manager $11,882 $12,430
Chief operating officer/ General manager $11,565 $11,998

Low personal income tax rates

Income tax in Singapore depends upon the tax residency status. The current tax rate for income is given in the table below:

Taxable income Income tax rate
First S$20,000 0%
Next S$10,000 (up to S$30,000) 2%
Next $S10,000 (up to S$40,000) 3.50%
Next S$40,000 (up to S$80,000) 7%
Next $S40,000 (up to S$120,000) 11.50%
Next S$40,000 (up to S$160,000) 15%
Next S$40,000 (up to S$200,000) 18%
Next S$40,000 (up to S$240,000) 19%
Next S$40,000 (up to S$280,000) 19.50%
Next S$40,000 (up to S$320,000) 20%
Above S$320,000 22%

The tax rate from 2024 onwards can be found in the table below:

Chargeable Income Income Tax Rate (%) Gross Tax Payable ($)
First $20,000 0 0
Next $10,000 2 200
First $30,000 200
Next $10,000 3.5 350
First $40,000 550
Next $40,000 7 2,800
First $80,000 3,350
Next $40,000 11.5 4,600
First $120,000 7,950
Next $40,000 15 6,000
First $160,000 13,950
Next $40,000 18 7,200
First $200,000 21,150
Next $40,000 19 7,600
First $240,000 28,750
Next $40,000 19.5 7,800
First $280,000 36,550
Next $40,000 20 8,000
First $320,000 44,550
Next $180,000 22 39,600
First $500,000 84,150
Next $500,000 23 1,15,000
First $1,000,000 1,99,150
In excess of $1,000,000 24

Easy process for work and residence permits

If you have plans to work in Singapore, you need to apply for a work visa. The process of visa application is mentioned below:

  • Submit an application
  • Make preparation for the arrival of workers
  • Wait for the issuance of the work permit
  • Go for fingerprints and photo registration
  • Receive the pass or permit
  • Return the old card

To submit an application, follow the steps below:

  • A written consent from a foreign worker is required to apply for the work permit
  • Navigate to the page on the government website and log in
  • The form should be duly filled
  • The application fee of $30 should be paid. Through the General Interbank Recurring Order (GIRO), Visa, MasterCard or eNets debit.
  • After the submission of application, wait for 7 days and then check the status

Eligibility criteria to apply for a work visa in Singapore:

  • Have a job offer from an employer in Singapore
  • The job position should be manager, executive, or any specialized job
  • Fixed monthly salary should be of SGD 5,000 per month
  • In the case of the financial service sector, the salary should be at least SGD 5,500

Easy permanent residency process

The process to apply for a permanent residence in Singapore is very easy. You need to follow the steps below to apply for permanent residency:

  • Visit the government website to apply for permanent residency
  • Select the category you are using to apply for. These categories include:
    • Student
    • Employer
    • Family member
  • Select whether you are applying for yourself or your dependents which can include parents, spouses, and children.
  • Download the application form and fill the required information
  • Upload the form with all the requirements
  • Pay the fee which is given below:
    • S$20 for Entry Permit
    • S$50 for a 5-year Re-Entry Permit
    • S$50 for Identity Card
    • S$30 per Entry Visa (foreigners requiring a visa)

Requirements needed to apply for permanent residence in Singapore

If you want to apply for Singapore PR, you need to submit the requirements mentioned below:

  • Copies of the valid passport which should include personal information pages
  • A copy of an immigration requirement should be available
  • A copy of identity card
  • A certificate of change of name
  • Copies of highest educational qualifications
  • Copies of higher educational certificates should also be included
  • A passport-size digital photo that has to meet the criteria of Singapore photo

Education opportunities for children

The Ministry of Education in Singapore takes care of education. The school year starts from January and ends in November. There are four terms in public schools with breaks between each term. The public schools in Singapore have a high standard of learning and teaching. English language is the medium of teaching and communication.

The stages of Singapore school system can be found in the table below:

Stages Age Curriculum
Kindergarten 5 to 6
Primary School
6 years
Primary 1 to Primary 6
7 to 12 years old Primary School Curriculum
Takes National Exams at Primary 6 – Primary School Leaving Examination (PSLE)
Secondary School
4 to 5 years
Secondary 1 to Secondary 4/5
13 to 16/17 years old GCE O-Level Curriculum
Students will be streamed into different streams: Express, Normal Academic and Normal Technical depending on their PSLE score
Takes National Exams at Secondary 4 or Secondary 5
Takes either the N or O levels
International Curriculum
Students may also enrol themselves into schools like School of the Arts (SOTA)
Post Secondary School
Junior College
2 years
J1 to J2
17/18 to 19/20 years old GCE A-Level Curriculum
Students will have to choose to stream into the Arts or Science stream in their first year.Students will take National Exams (A-Levels) at the end of their JC years – J2
3 years
17/18 to 20/21 years old Students complete their three-year course to obtain a diploma.
University Students complete their course to obtain a degree or bachelors.

Diversity in population

There is diversity in population in Singapore because of immigration. The highest population is of Chinese followed by Malays, Indians, and ethnic groups. Chinese follow the religion of Buddhism, Confucianism, and Daoism. Some Indians and Malays follow Islam. Christian community is also growing rapidly in the country. Four languages for communication are used in Singapore. The first and most popular one is English followed by Mandarin, Malay, and Tamil. National language of the country is Malay.

Work culture

The work culture in Singapore focuses on teamwork. A company has to form different teams to achieve its goals. You will have to work with your team members and agree to the decisions. Employees have to work:

  • 5 days a week
  • 9 hours per day
  • 44 hours a week

Employees are also entitled to work overtime which will be 72 hours per month. The payment for the overtime will be 1.5 times of the basic hourly rate.

Social security benefits

The social security benefits in Singapore include Central Provident Fund in which employers and employees have to make contributions. This fund can be used as a healthcare, housing, and retirement. The CPF has three sub categories which are as follows:

  • Ordinary Account
  • Special Account
  • Medisave account

Funds in the ordinary account can be used any time for home purchase, making investments, or education expenditure. Medisave account can be used to pay medical bills, hospitalization expenses and approved medical insurance. Special and ordinary accounts are transferred to a retirement account after employees turn 55. At this age, they are eligible to withdraw their funds.

Maternity and paternity leave

A mother will get 16 weeks of paid leaves and a father can share four weeks of the mother’s leaves. The eligibility criteria for the leaves are as follows:

  • The child should be a citizen of Singapore
  • Parents should be married lawfully
  • A mother should qualify for Government-Paid Maternity Leave

How Y-Axis assists you to work in Singapore?

Y-Axis will provide the services listed below to assist you to work in Singapore:

  • Counseling: Y-Axis provides free counseling services.
  • Job services: Avail job search services to find jobs in Singapore related to architects
  • Reviewing requirements: Your requirements will be reviewed by our experts for your visa
  • Application process: Help in completion of the application process
  • Requirements checklist: Help you in arranging the requirements for a Singapore work visa

Willing to migrate to Singapore? Talk to Y-Axis, the world’s no. 1 overseas immigration consultant.

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