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Singapore is one of the most developed, economically-dynamic, and safest country in the world. Because of this permanent residency in the country is highly valued. A lot of people are looking to immigrate to Singapore because of many reasons. And if you are one of them, make sure you seek the help of an immigration professional from ACHI. Below are some of the reasons people want permanent residency in Singapore:
Efficient Infrastructure
The efficiency of the country’s infrastructure is seen in how easy it is to open a business, get electric power, and import a container. While owning a vehicle there is expensive, the country doesn’t deal with long traffic jams common in other urbanized cities. Indeed, public transportation in Singapore has been recognized as one of the most cost-efficient transport systems in the world. The availability of these infrastructures leads to the creation of many jobs.
Flexibility of the Pension System
Permanent residence and citizens in Singapore and their employers are required to contribute to the Central Provident Fund (“CPF”). With such contributions, their taxable income is reduced as tax calculation is done after deducting CPF from the salary. Although CPF can be locked away until a resident reaches the age of 55, it can be used for some big-ticket purchases like medical costs, purchasing properties, investment in certain funds, and education.
Ideal Business Environment
Singapore has great and stable policies. That is why its economy has grown with 2-3% projected productivity growth up to the year 2020. People who are looking to build their wealth will want to start a business in the country. Given the strategic location of Singapore in the Asia Pacific region, it has become an ideal launch pad for the regional headquarters of many corporations. This opens more opportunities for residents to leverage off and expand their capabilities.
Abundance of Job Opportunities
In Singapore, unemployment is low; however, it drops even further as the Ministry of Manpower imposed more regulations to make sure permanent residents and senior citizens are given priority. As the government makes sure the workforce is comprised mainly of residents, it has been pushing employers to embrace more flexible work arrangements and welcome older and female workers.
Safe Environment
Singapore is one of the safest countries in the world to live and work in. When compared to other countries, it is rare to see protests and riots in the country. In fact, political unrest is unheard here.
