Working Visa in Singapore | Prism Consultancy Co. (SG) PTE. LTD.

Facts About
Working Visa in Singapore

Home / SG Work Visa / Fact About Working Visa

In a recent government survey, an overwhelming 9 in 10 qualified and experienced foreign talents expressed their satisfaction with working in Singapore, including those who have successfully obtained a working visa in Singapore. This resounding approval can be attributed to a multitude of factors that make Singapore an ideal destination for career growth and personal development.

What Makes People Happy Working in Singapore?

Competitive Salary Offerings: Singapore boasts competitive salary packages that attract top-notch talent from around the world, including those who have obtained working visas in Singapore. Your skills and expertise are valued and rewarded here.

Attractive Job Opportunities: The city-state is a hub of diverse industries, offering a wide array of job opportunities across sectors. Whether you’re in tech, finance, healthcare, or any other field, Singapore has something for you.

Effortless Work and Residence Permits: Navigating immigration, including obtaining work visas and residence permits, is streamlined and efficient in Singapore, making it hassle-free for foreign professionals.

Low Personal Income Tax Rates: Singapore’s tax system is designed to be friendly to your wallet. Low personal income tax rates mean you get to keep more of your hard-earned money.

Diversity in Population: Singapore is a melting pot of cultures, languages, and backgrounds. This diversity fosters an inclusive and vibrant community where you can connect with people from all walks of life.

Great Infrastructure and Technology: Singapore boasts world-class infrastructure, cutting-edge technology, and a commitment to innovation, creating an environment conducive to growth and progress.

Political Stability: The city-state is known for its political stability and efficient governance, providing a secure environment for you and your family.

Low Corruption: Singapore ranks among the least corrupt countries globally, ensuring a fair and transparent business environment.

Low Crime Rates: Safety is a top priority in Singapore, with remarkably low crime rates that contribute to a peace of mind rarely found elsewhere.

Growing Globalized Economy: As a financial and trade hub, Singapore offers opportunities to be a part of a dynamic and rapidly evolving global economy.

Strategic Geographic Position: Situated away from major natural disaster zones, Singapore provides a sense of security in an uncertain world.

Schedule an appointment now!

Please provide a valid email address so we can schedule your free assessment.

Why You Should Consider Working in Singapore?

Singapore Healthcare System

Singapore has an efficient and widespread system of healthcare. Singapore was ranked in the top 10th in the World Health Organization's ranking of the world's health systems. According to global consulting firm Towers Watson, Singapore has one of the most successful healthcare systems in the world, in terms of both efficiency in financing and the results achieved in community health outcomes.

The Ministry of Health (MOH) believes in ensuring quality and affordable basic medical services for all. Singapore’s healthcare system is designed to ensure that everyone has access to different levels of healthcare in a timely, cost-effective and seamless manner.

MOH and its statutory boards are responsible for regulating Singapore’s healthcare system. All Healthcare facilities are also required to maintain a good standard of medical / clinical services under the Private Hospitals & Medical Clinics (PHMC) Act/Regulation.

The Ministry continuously works to shape the future of healthcare in Singapore and has been actively promote healthy living and preventive health programmes as well as high standards of living, clean water and hygiene to achieve better health for all.

Maternity and Parental Leave

Singapore provides maternity and parental leave benefits to new parents who are foreigner or PR working in Singapore. The policy stipulates that working mother will be entitled to either 16 weeks of Government-Paid Maternity Leave or 12 weeks of maternity leave, depending on whether your child is a Singapore citizen and other criteria. Working fathers, including those who are self-employed, are entitled to 2 weeks of paid paternity leave funded by the Government.

Need help? Cick here.

Legislated Employee Benefits

The Employment Act is Singapore's main labour law. It provides for the basic terms and conditions at work for employees covered by the Act. Foreign employees holding a work pass are also covered by the Employment of Foreign Manpower Act, which outlines an employer's responsibilities and obligations for employing foreigners. Work passes include Employment Pass, S Pass and Work Permit.

There are specific requirements covering the following areas for foreign employees who are covered by the Employment Act:
• Salary
• Hours of work, overtime and rest days
• Public holidays
• Annual leave
• Sick leave

An Overview of Singapore tax System

Along with other revenue-generating streams such as exports, fees and charges and other receipts, taxes collected every year are used in developing Singapore into a more vibrant economy – a place where every foreign entrepreneur and company wants to be.

Inland Revenue Authority of Singapore (IRAS) is responsible for collecting personal income tax, corporate tax, property tax, goods & services tax, betting taxes and stamp duty.

Personal Income Tax

Tax residents are:
• Singaporeans residing in Singapore
• Singapore Permanent Residents who are residing in Singapore
• Foreigners staying in Singapore for 183 days or more in the year will be taxed in the following year, meaning foreigners staying in Singapore for more than 183 days in the calendar year is required to do individual tax filing by 15 April 2024 and pay taxes in year 2024. Taxes can be paid via monthly instalment or one time payment.

Tax residents enjoy tax savings through tax reliefs, donations to IPCs (Institutions of Public Character) and certain expenses relating to the employment and business spend.

Get your Free Consultation

Please feel free to get in touch, and we will ensure your needs are addressed promptly and efficiently.

Schedule an appointment now!

Please provide a valid email address so we can schedule your free assessment.

Facts About
Working Visa in Singapore

What Makes People Happy Working in Singapore?

Schedule an appointment now!