Enjoy living and working in Singapore, a low-tax island paradise

Those heading for Singapore to start a new life will find a modern, vibrant city with a free economy, a thriving financial services sector and plenty of entertainment on the doorstep to suit all tastes.

Background
The Republic of Singapore is an island and 63 islets situated in south-east Asia between Indonesia and Malaysia, with a young population of around five million people.

Governed as a parliamentary republic, it has a stable economy and political system that is particularly attractive to expatriates seeking new challenges overseas. Its banking sector is expanding and the financial services sector is one of its major industries.

One of the key draws for overseas workers is the lightness of regulation and its appealing taxation system.

Working
Communications systems in Singapore are excellent, with a 3G wireless service going live in 2005 and a household broadband penetration rate of 128.7 per cent. The island city-state is a leading global financial centre, with a range of positions available in sectors such as wealth management, technology, international banking and corporate finance.

The single tier tax system is particularly attractive, with good corporate and personal rates, in addition to relief measures. An additional draw is the complete lack of capital gains tax. In a statement on its website, the Inland Revenue Authority of Singapore states: "The fundamental tenet of Singapore's tax policy is to keep tax rates competitive both for corporations as well as individuals."

Living
With a tropical climate all year round, Singapore offers expatriates enviably good weather and lots of sunshine, although there is some rain during its two monsoon seasons. English is one of the four official languages and the former British colony has a well established expatriate community, in addition to a population of multiple cultures and religions.

Although prices are high, wages tend to be very good - the highest in the Asia Pacific region - and taxes low, providing workers in the banking industry with substantial disposable income. Employees living in Singapore tend to work hard and enjoy themselves to an equal degree, with plenty of entertainment available on the island and within easy reach elsewhere in Asia.

With a state-of-the-art airport, very high standards of medical care and low crime rates, in addition to clean streets, good public transport and a broad range of community organisations, Singapore was ranked 23rd in the UN Human Development Index 2009 for its high standard of living.

Out and About
The service sector in Singapore is advanced and there are a myriad of restaurants, bars and other venues to spend an evening in, including the iconic colonial-style Raffles Hotel, which invented the Singapore Sling. For those with a cultural interest, there are many performance venues showcasing work by local and international artists, in addition to museums and art galleries.

Additionally, for such a small and crowded island, there are many beautiful parks in the city to stroll in, while shoppers can make purchases to their hearts content in the fashion boutiques on Orchard Road, or search for local goods in Geylang Serai.

For those who like exploring further afield during their free time, weekend breaks can be spent in nearby locations such as Bali, Thailand and Malaysia.

Don't Miss
1. Stroll in the sunshine around the Botanic Gardens
2. Admire the view from the 165m Singapore Flyer, the biggest observation wheel in the world
3. Be pampered at the Hyatt Damai Spa with traditional treatments

All stories