Relocate to highly ranked expat haven.
Citizens all over the world are choosing to ditch their lives back home and seek financial and personal freedom in a jurisdiction that closely aligns with their target lifestyle, with a better quality of life, attractive working conditions, and safer communities. What many don’t realize is that relocating does not have to be hard. Don’t hold yourself back. In this article we will cover why expatriating can change your life for the better, specifically Singapore.
Need more persuasion on why you should consider a life abroad? In terms of financial planning, expatriating can be a lucrative step in a fiscally responsible retirement. The cost of living, tax benefits, and quality of life are all reasons to spend your retirement years abroad. At Alpen Partners, we are well versed in the financial planning that goes into a sound retirement. A good retirement plan takes years of careful saving and sound investing in order to live a carefree life after paid work. By spending your retirement abroad, you are allowing yourself to obtain the most out of all the work you put into saving.
Many countries boast low costs of living. When it comes to retirement planning, you may be able to fit in a more active lifestyle when the cost of an apartment or home can be as low as one-third of what it may cost in popular retirement areas back home. Don’t take a hit to your lifestyle. Retirees that moved abroad have found that they’ve been able to live a life that they never thought they’d be able to because of how expensive it can be.
Expatriating doesn’t just have to be a good idea for your wallet. In the realm of your personal life, expatriation allows you to find the lifestyle that works best for you. Different parts of the world offer a variety of climates and environments. Central America offers a warm climate all year long, while many countries have picturesque coasts, mountains, forests, and more.
Let us dive into why expats have ranked Singapore as one of the top picks for global expats!
Life in Singapore
The Republic of Singapore is located just north of the equator with one large central island and 62 smaller islets. Singapore came to popularity when it went from a developing to a developed country in just one generation under Prime Minister Lee Kuan. Since then, this country has grown to be one of the highest-ranking expat destinations globally. In fact, for the past four years, Singapore has beat out other popular destinations such as New Zealand, Germany, Canada, and Bahrain as the best place in the world for expats.
One of the main reasons expats from all over the world are choosing Singapore is a high quality of life. In fact, in many expat surveys, Singapore often ranks high in quality of life, satisfaction with work, work to personal life ratio, and much more! This good because roughly 45% of expats in Singapore said they moved for a career opportunity. 69% said they believed Singapore was an ideal place to progress their careers.
It is highly regarded for its stable government and high safety rating. In fact, crime rates in Singapore are the lowest in the world. This may be because of the strict punishments and high fees when rules are broken.
For those moving with school-aged children, the education system is highly regarded with Singapore University being one of the best colleges globally. Beyond education, 60% of expat parents have claimed that their child’s health improved after leaving their home country and moving to Singapore.
Banking in Singapore
According to the HSBC survey, 38% of expats chose Singapore for financial reasons. As a safe and stable country, Singapore has a reputation as one of the top choices for wealthy investors to store their money. Opening a bank account in Singapore is easy, and the banks have access to the latest banking technology that can assure the safety of an individual’s assets.
The banks offer wealth management services, funds, and accounts to manage a person’s wealth, as well as trading platforms that account holders can take advantage of. With an account in Singapore, account holders also have easy access to other financial centers such as the United States, Hong Kong, Europe, China, and more.
As the world’s fourth leading financial center, Singapore’s passport will not only earn you visa-free travel to over 150 countries, citizens will also benefit from a diverse culture that plays a vital role in global finance and trade.
The country is no stranger to immigration, with a population of almost 5 million people that is made up of Chinese, Malay, Indian, other Asian descents, and Caucasian immigrants. Foreigners make up nearly 42% of the population, where they work and study.
To earn permanent residency in Singapore is simple. An individual can establish a business, obtain employment, or marry a citizen of the country. After two years as a permanent resident, the individual can obtain citizenship.
Alpen Partners and Relocating
Are you ready to discover what a life abroad could mean for you? Alpen Partners is prepared to assist its clients with any expatriation and relocating planning, like choosing their destination, finding a new home, earning residency, and more! Get your international life started with the expatriation services of Alpen Partners. Tap into new markets, legally lower your tax bill, and go on an adventure.
Some benefits can affect your taxes, your investment portfolio, cost of living, and your lifestyle altogether. As the cost of traveling becomes cheaper, the benefits of expatriation for financial reasons are more easily obtained.
Taking the leap and leaving your home country can be a big decision with tons of personal and legal steps. The hassle of navigating the legal process of expatriation can be reduced with the guidance of Alpen Partners. Each step requires assistance, including getting the passport, making sure everything is completed correctly regarding taxes, acquiring work permits, making investments, and more.
Our expatriation and relocation services take your goals and current situation to handcraft a unique plan for you.