Corporate Relocation Guide for Singapore

Overview

Population

6,111,200

Area

283.1 sq miles (733.1 sq km)

Standard time zone

UTC +8 hours

Local voltage

230V, 50Hz

Country code

+65

Ethnic groups

Chinese (75.9%), Malay (15%), Indian (7.5%), Other (1.6%)

Currency

Singapore Dollar (SGD)

Language

Singapore has four official and equal languages: Malay, Chinese, Tamil, and English. Malay is the common language and national language, with English being the most widely spoken. English is the medium of education in local government schools. All government signs are in English, with Mandarin and other languages included.

Health

Singapore is home to one of the best healthcare systems in the world. Medical personnel are well-qualified at both government and private hospitals, and facilities are state-of-the-art. English is spoken in all facilities. 24-hour emergency access is available in all hospitals. Charges for foreigners apply at both government and private hospitals. It is recommended to have medical insurance, as the cost of treatment can be expensive.

Security

Singapore has a remarkably low crime rate and is one of the safest cities in the world. Most crimes reported in Singapore are opportunistic and non-violent. It is recommended for assignees and family members to learn local laws. Singapore has some unique laws with penalties for violations that can be much more severe than in other countries. Vaping and e-cigarettes are banned in Singapore and possession carries strict penalties and fines.

Homosexuality is legal in Singapore, but same-sex marriage is not recognized.

Government Compliance

Beyond the Visa, there are no further local registration requirements. Visa processing times for an online application average three weeks. Processing is usually efficient, but approval timelines may vary. An application can be completed either before or after arrival in Singapore.

Transportation

Public transportation in Singapore is world-class, clean, fast, and efficient. The government regulates car ownership in Singapore, which remains one of the most expensive countries in the world to own a car. Car leasing is common, straightforward and a good choice for assignees. Driving can still be expensive and in a battle to address congestion, Singapore has instituted Electronic Road Pricing, which varies in price based on the time of day.

Banking

A passport, company letter and physical Employment Pass (EP) will be required to open a bank account. The EP is required in most cases apart from a limited number of banks which accept the In-Principal Approval (IPA) Letter in lieu of the physical EP card. The account opening process is usually completed online and will take approximately 5 business days, depending on whether the bank requires additional documentation.

Housing

The real estate market in Singapore legally favors the Landlord. Depending on the level of demand in the rental property market, there is not much room for negotiation regarding price. To lease property in Singapore, it is mandatory to have an approved Employment Pass (preliminarily, an IPA Letter will suffice). Dishwashers, kitchen hot water and automated garbage disposals are uncommon in Singapore.

Lease Term / Condition

Details

Typical lease period

12–36 months (24 months preferred by Landlords)

Security deposit

2 months’ rent

Agent fees

1 month's rent, paid by the tenant for certain leases

Diplomatic clauses /termination

Permitted after 12 months with 2 months’ notice before lease expiry

Types of leases

Personal and Corporate

Rental payment cycle

Monthly

Utilities

Not included in the rent

Furnishings

Typically partially furnished (white goods only), 1 & 2-bedroom units tend to be fully furnished

Education Overview

Many excellent international schools in Singapore offer various IB, IGCSE, and American curricula. There is competition for places at top-tier international schools and early application is advised. Most Singaporeans must attend local schools where places for foreigners are extremely limited. Local school Primary grade 1 applications are via the Phase 3 application process, whilst all other grades require a standardized entrance test, the Admissions Exercise for International Students (AEIS). Families must have a backup school plan if applying to a local school.