To work in Singapore, you need an Employment Pass that your employer or local sponsor should apply for. The Ministry of Manpower issues 4 categories of employment passes (P1 Pass, P2 Pass, Q1 Pass, and the S Pass). The Employment Pass Self-Assessment Test that you need to take will gauge your qualification for the Employment Pass.

If you are not a Singapore citizen and wish to look for a job, you can apply for the Employment Pass Eligibility Certificate (EPEC) which is submitted and processed only online, and has been in effect since 2 May 2007. EPEC grants the holder a Social Visit Pass with one-year validity period. The EPEC is issued on a one-time basis and is strictly non-renewable. You may apply for EPEC if you hold any of the selected university qualifications or if you are a current or former holder of selected skilled migrant visa. You should still have the relevant visa to enter Singapore, when a visa is required, even if you hold a valid EPEC.

Income Levels and Compensation Packages

Salary packages in Singapore are among the most competitive in the world. Most companies that employ foreign professionals provide local-term packages that include housing, cost of living allowances, and other benefits. One to two months of fixed bonuses are usually given by companies. Other bonuses that may amount from one to six months may also be given depending on the performance of the company or the employee. The National Wage Council also provides annual compensation guidelines based on the performance of the Singapore economy.

Monthly Gross Wage

In Singapore, the monthly gross wage includes overtime pay, commissions, allowances, and other regular cash payments. However, it excludes bonuses, productivity or incentive bonuses, other lump sum payments, and payments-in-kind.

Employee Benefits

It is typical for an expatriate compensation package to include insurance coverage. This covers life, personal accidents, and hospitalization. More than half of all employing companies provide medical coverage to the dependents of employees. Other typical benefits include housing, childcare, and payment of school fees. Some strategic rewards include job-related training, recreational facilities, transportation, and even entertainment allowances.

Stock-based plans are offered as long-term incentives for key employees. The most popular of these are stock options. Pharmaceutical, high-tech, and electronics manufacturing companies are known to give stock option plans.

Working Hours

Offices in Singapore commonly follow an eight-hour workday with a one-hour lunch break in between, and a workweek from Monday to Friday with half-day work on Saturday. Some companies have opted to stick to five-day workweeks, making the entire weekend free. The maximum weekly work-hour total is 44 hours.

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Insurance and medical expenses will normally depend on your policy and coverage. At an average, this is about S$100-S$200 per month. Your medical insurance for hospitalization should best be paid from your Medisave account, and bought with NTUC. A package that combines term insurance and illness coverage is cheaper. An average annual premium medical insurance for an expatriate is about 1,000 Euro. A typical doctor’s consultation fee, for a general practitioner, is S$40.

Monthly gas/water/electricity bill may range from a low of S$200 to a high of S$280 a month, if you leave the air-conditioning running. Gas cost is S$15.23 per unit. Electricity charges S$16.35 per kWh. Water costs S$1.52 per cubic meter.

Mobile phone subscription costs anywhere between S$150 to S$400 per month. Monthly 1500 kbps wireless internet ADSL subscription is S$70.

Cable TV can be availed from Starhub for as low as S$25.68 (any 3 groups) to a moderate high of S$35.31 (all 6 groups). Your TV should have a PAL system, and your home should have a cable-ready connection. A deposit of S$250 is required of foreigners. StarHub’s offering for Digital TV has improved the choices for programs. The company’s Demand TV offers a choice of 10 movies at any given time for S$4.50 per movie. You need a digital set-up box to use this service.

A typical PC sells at S$1,500, while a regular laptop at S$3,500. A TV set comes at S$800, a DVD player at S$700, a HiFi stereo system at S$350, and a music CD at S$20. A movie ticket sells for S$6-S$7, while an hour at an internet café charges S$6.

Monthly subscriptions to magazines, newspapers, and cable TV can bring about a total gross of between S$150 to S$200. Forms of entertainment such as movies and shows can easily cost as much as S$300 a month. Club membership ranges from S$1,500 to S$4,000 for annual non-transferable membership.

By and large, the cost of living in Singapore is kinder to those who know how to manage their financial resources, and keep the job regularly paying. Choices abound in Singapore. An expatriate family would do well to take the wisest options. A foreign banker, his teacher wife, and their two young children are actually able to live in Singapore for only a monthly family budget of S$2,000 (pre-recession). An expatriate who makes S$5,200 a month is already assured of more than enough reserves (pre-recession). The trick is to be fully aware of where your money goes and to live below your means.

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Singapore has one of the best, most comprehensive, and least expensive public transport systems in the world. A one-way average bus or MRT (Mass Rapid Transit) fare is about S$1.20. If you avail of the MRT, your monthly transportation expense should be no more than S$60-S$70 a month. If you combine bus and MRT transports only, it will cost you S$100 a month on the average. A couple that travels regularly within Singapore, using MRT or bus, will need to set aside a monthly combined transportation budget of roughly S$300.

Taxi service in Singapore is one of the most efficient worldwide. You can hail a cab on the road or call their number to book a service. Taxi drivers are willing to cover even the shortest of distances. Taxi fare starts at S$3.50. Twenty minutes on a cab will cost you around S$12. Your taxi transport service budget, to and from your office, will most likely cost you S$400 a month.

Cars can be rather expensive in Singapore, due to their heavy taxes and government quotas. A brand new Japanese or European model can easily fetch upwards of S$$90,000. For example, a brand new Honda Accord costs around S$150,000. Second-hand cars are cheaper, but still often come with a S$90,000 price tag. In Singapore, there is such a thing as Compulsory Certificate of Entitlement (COE) that the government regularly auctions off as a measure to control vehicle volume. At current cost, this can add another S$35,000 to the total car purchase budget.

In the face of such steep prices, many expatriates have opted for car rental arrangements that range from about S$2,800 to S$3,200 a month, depending on the vehicle’s model and mileage. Also, with a fairly recent regulatory amendment, rented vehicles are now permitted to drive into Malaysia on weekends.

A liter of petrol can range from a little over S$1 to slightly under S$2. Parking your car in the city will cost you from S$2.50 per hour. On the average, you will spend about S$300 a month for petrol and parking, and about S$300 yearly for maintenance.

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A child goes through 2 years of kindergarten, beginning at age 5. Primary school totals 6 years. There are 4 years of secondary school leading to the GCE O Level exams or 5 years for the GCE N Level exams.

Children of expatriates residing in Singapore on employment passes or skilled work permits can be admitted to government or aided schools where primary pupils pay a monthly fee of S$3, and S$5 for secondary students. On the other hand, children whose parents are not employment pass holders, skilled work permit holders, or permanent residents will need to apply for student passes at the Foreign Student Unit, Ministry of Education.

The Letter of Certification that is subsequently released within seven working days of the submission of the application should be presented at the school of choice. This serves as application for an assessment test. Upon the student’s acceptance, the Foreign Students Unit will send a letter requesting a contribution to the Education Fund. Malaysians must contribute $3,000 for primary education, secondary and pre-university education, while parents of other nationalities must contribute $5,000.

After the Immigration Department issues a Student Pass and a Letter of Approval, the student is all set to report for school. Application for admission to kindergartens and private schools should be made directly to the school. Contribution to the Education Fund is not required in these cases.

International, American, British, Canadian, Dutch, German, Japanese, and Swiss are some of the international schools present in Singapore. The estimated yearly fees range broadly from S$6,000 to S$19,000. School bus fare expenses amount to an estimated S$1,700 a year.

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The city-state of Singapore has proven to be attractive to skilled foreign talent that number an approximate 500,000, or more than 12 percent of the country’s population of about four million. Singapore’s living standards are one of the highest in Asia. Conversely, its cost of living is comparatively lower than that in equally developed western countries.

Prices of food and clothing are moderate. There is a wide spectrum of price ranges since most goods are imported. Anything that is between bargain and top-of-the-line exhibits a normal price tag. In Singapore, all taxes are inclusive in the prices shown. Transport and accommodation come at a reasonably low cost.

If you are an expatriate whose compensation package includes additional benefits such as transportation/car allowances, housing, childcare, payment of school fees, entertainment allowances, and other work-related benefits, you will find that Singapore is a place where a total net annual income of at least S$78,000 makes for quite a comfortable life. On the other hand, a salary of S$5,200 a month is enough for a newly settled in couple with no child, does not normally eat out or go clubbing, does not spend much on entertainment, have less luxury, does not maintain a car, and have opted for a smaller house.

Location is a major differentiating factor in rent ranges in Singapore. The cost of housing depends on such factors as proximity to the city, relative age of the property, availability of facilities such as pool, gym, etc., and the quality of the furnishings that come with the apartment.

A condo apartment with the size of 1,600 square feet (3+1 bedrooms) in the city fetches an average monthly rent of S$4,000. A 1,500-1,800 square-foot (3+1 bedrooms) apartment in the outskirts of the city rents out for S$2,500. A fully-furnished 2-bedroom apartment (HDB) costs from S$800 to S$1,200 per month. This already contains the basic household appliances such as a bed, television, sofa, refrigerator, washing machine, oven, etc. A more comfortable HDB flat will cost about S$1500 a month. If you are an expatriate who is single, you may opt to share the space with a co-occupant or be a paying guest at S$250-S$550 per month. In Singapore, rental costs of serviced apartments come in high-end range, mid-range, and budget.

A room in a condo located in the city proper costs a monthly average of S$1,800. In the suburbs, the same room will cost approximately S$1,200-S$1,500 per month. Located 30 minutes away from the city, a room commands a monthly of S$400-S$750.

In the choice districts closest to the city center, a house can set you back by S$28,000 monthly rental. Farther, a house with a private swimming pool can be rented for about S$11,500 per month. These dwellings are typically of the 2,500 square-foot size. It comes with a driveway, garden, pool, and average of 4 bedrooms. Generally, houses within the city proper rent out for a monthly of S$10,000-S$25,000.

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