Work overseas: The benefits you will get if you work in Singapore

The benefits you will get if you work in Singapore

If you are interested in moving to a prosperous place in Asia with a reputation for exemplary development, it’s time you checked out Singapore to land a job, build a career, and set your life on the path to progress.

Singapore is a South Asian hub where entrepreneurs from the world over show interest to invest in. It’s also a place where international jobseekers flock to put their skills and qualifications to the best use.

Here, we will see what benefits are there for you if you come and work overseas in Singapore.

Attractive job opportunities

Singapore offers ample job opportunities for skilled and experienced professionals in the fields such as healthcare, finance, and IT. The country has the right opportunity for skilled and talented professionals in various fields.

Lucrative salaries

Overseas workers hired in companies in Singapore are paid high salaries besides attractive incentives to the right candidate.

Low rates of personal income tax

Singapore’s personal income tax rate is one of the lowest in the world. The country has a progressive personal income tax regime for tax residents. The rates are from 0% to 22%. Tax residents include Singapore citizens and permanent residents.

The income tax rates for non-tax residents are applicable on factors such as income from employment, consultation fees, director’s fees, and income from other sources. The employment income of non-tax residents is taxed either at a flat rate of 15% or at a progressive rate.

Tax rates are applicable on all income you make while you stay in Singapore. Any overseas earnings brought into the country are subject to no taxes.

Easy process for work and residence permits

If you have got a job offer in Singapore, it’s very easy to apply for a work permit in the country, achievable online with just a few clicks on the government website. The result of the application comes within a day.

The renewal process of your permit is also quite simple. Residence permits are in the normal course issued for the same period of time along with the work permit issued to you.

Easy permanent residency process

It only takes a year of living and working in Singapore for you to be eligible to apply for a permanent resident card. The process is very easy.

These are the factors that can help improve your chances at permanent residence:

  • You are aged under 50 years
  • It helps to have a degree from a Singaporean university as it fetches extra points
  • Choose an in-demand industry to work in
  • You are able to speak one of the 4 local languages in Singapore

Your application will be processed in a period that can go up to 6 months.

Opportunities for education

If you graduate from any one of the 6 universities in Singapore, you will acquire certain skills that can get you a promotion in your job at any stage. You have the chance to apply for a government grant/scholarship which can reduce your cost of study by 50%.

Diversity in population

More than 40% of the population in Singapore has people of foreign origin. English is the main language of communication. So, it’s easy to live and work in this country.

The people in Singapore are open and welcoming to foreigners.

Work culture

In Singapore, a hierarchy has great importance. You are not encouraged to criticize your bosses or elders directly. You are also not expected to get aggressive in meetings.

It’s important to be punctual at workplaces, be it about showing up in meetings on time or completing tasks by meeting deadlines.

Singaporeans are in favor of thinking well before going ahead to criticize others.

Social security benefits

Employees in Singapore mandatorily contribute to the Singapore social security system every month from their salaries. It’s called the CPF (Central Provident Fund). It’s such contributions that cover funds for healthcare, retirement, and social security.

Maternity and paternity leave

In Singapore, qualifying mothers are now eligible for GPMB (Government Paid Maternity Benefits). For their first 2 children, they will be paid up to 20,000 SGD (14,500 USD). For the third and kids born after, they are paid 40,000 SGD (29,000 USD).

For professional guidance and expert services in immigration, contact Y-Axis, the World’s No.1 immigration & visa company. Click here to connect with us.

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