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Expat Relocation - Working in Singapore
Find useful information on your relocation to Singapore
below:
So you made the decision to work in Singapore? Here is some useful information
and administrative details on working in Singapore
Employment Pass (EP)
- Who is eligible for an Employment Pass?
Any foreigner may apply for an employment pass (EP) as
long as he has acceptable tertiary/professional qualifications or his
basic salary per month exceeds S$2000/-.
- Is a local sponsor required?
Yes. The local sponsor is usually the applicant's employer
and must be a Singapore registered company.
- What is the validity period of an employment pass (EP)?
It is valid for 5 years.
- What is the processing time of an Employment Pass?
The processing time is about 2 weeks upon the receipt
of the application form. The sponsoring company will be informed of
the outcome of the application. Applicants may call in at (65) 3916100
if they do not receive any results after 2 weeks.
Dependant's Pass (DP)
- Who is eligible for a Dependant Pass?
A Dependant Pass may be issued to the spouse and unmarried
children (under 21 years of age) of the holder of a valid EP.
- What is the validity period of a Dependant Pass?
It is valid for 24 months. Applications for DP should
be submitted together with the application for EP to facilitate the
processing of the applications.
- Can a Dependant Pass holder work in Singapore?
A DP holder is welcome to apply for a Letter of Consent
from the Singapore Immigration and Registration (SIR) if he/she wishes
to work in Singapore. To apply for a Letter of Consent, only a letter
from the prospective employer, stating the job designation, nature of
duties in detail, number of years of past working experience and basic
monthly salary, is required. Submission of Form 8 is not required for
a valid DP.
- Can Dependant Pass holders own their own businesses?
Yes, DP holders can register at the Registry of Companies
and Business, and engage either a Singaporean or a Singapore permanent
resident to act as the manager.
Permanent Resident (PR)
- Can I apply for PR as soon as I start working in Singapore?
You may submit an application for PR as soon as you are
granted an EP.
- What is the processing time for the application for PR?
The processing time for an application is generally 6
months. Applicants will be notified of the outcome of their application
by mail.
- Can I sponsor my children who are above 21 years of age
for PR?
No. Your children will have to apply for a Singapore Permanent
Residency on their own merits.
- I am a PR. Is it possible for me to apply for my parents
to stay in Singapore?
Yes. You can sponsor your aged parents to reside in Singapore
on long-term social visit pass. The validity period of the pass is 5
years (renewable).
Taxation
- If I am an Employment Pass holder, do I have to pay income
tax?
If you are here on short term employment lasting not more
than 60 days and /or are under the Avoidance of Double Taxation Agreement
between Singapore and your country of residence, your earnings are exempted
from tax. Otherwise, for a non-resident, the short-term (60 days or
less) employment income is exempted from tax. Non-residents who have
stayed in Singapore for more than 60 days but less than 183 days will
have their employment income taxed at 15%, or at resident rates ranging
from 2-28%, whichever gives a higher tax. Only days when non-residents
are physically present or working in Singapore are taken into account.
- Are my savings accumulated abroad taxable?
No. Savings accumulated overseas are considered capital
gains and are therefore non-taxable. However, savings in any of the
local banks other than the Post Office Savings Banks (PosBank) are interest
rate taxable.
- Is my property overseas taxable?
If you are a permanent resident, the rental you receive
from your property overseas is taxable.
Central Provident Fund (CPF)
- What is CPF?
The CPF is a comprehensive social security savings scheme
to which both employers and employees have to contribute. CPF takes
care of members' needs in retirement, healthcare, home ownership, family
protection and asset enhancement.
- Do foreigners have to contribute to the CPF?
Foreigners only need to begin their monthly contributions
to the CPF after having assumed permanent resident status. During the
first two years as a permanent resident, contribution rates to CPF are
reduced.
- Can permanent residents withdraw their Central Provident
Fund (CPF) savings?
Permanent residents can withdraw their savings at age
55, after a Minimum Sum in their Retirement Account is set aside. Members
can also withdraw their CPF savings if they are permanently incapacitated
or will leave Singapore and West Malaysia permanently. If members do
return to Singapore, they must reimburse the CPF Board for the amount
they had withdrawn with interest.
Starting A Business
- Who can start a business in Singapore, and how do I go
about doing this?
If you are a Singapore citizen or permanent resident,
or hold an employment pass, you can apply to start a business in Singapore.
Individuals and companies registering business firms need not be Singaporeans
or incorporated in Singapore. The Registry of Companies and Businesses
(RCB) will be able to advise prospective applicants of the necessary
procedures.
- Application forms can also be obtained at the Registry.
Registry of Companies and Businesses.
10 Anson Road #05-01/15 International Plaza
Singapore (079903)
Toll-free No :1-800-2226266 Fax : (65) 2251676
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