Financial conditions that can be maintained in Singapore

Life in Singapore can be inadequate or it can also be luxurious. Salaries are usually competitive in this country. Many benefits are provided by employers to the employees and thus working in Singapore is very rewarding. There is a transparent relation working between the two strata of workers. Workers on expatriate compensation packages may receive such benefits as allowances for housing, transportation, education, childcare, and entertainment.

In Singapore we can enjoy a two-sided health care system. The government manages the public system. The system provides the private hospitals while general practitioners provide the private system. The private system provides Singaporeans with most health care services but these are quite costly. And because of this reason Singaporeans turn to the public system. Employers usually pay for their employees’ dental and medical insurance. It can be seen in many places that if they are not paying the full amount, they can at least partially subsidize the amount and pay for their workers.

In Singapore, most companies work on five-and-a-half-day in a week. Saturday is the half day in most of the offices. The standard legal work week is 44 hours long. Employees are entitled to take at least seven days of vocational leave for the first year of service. Most of the employees are seen enjoying two to three weeks of leave. They also enjoy the paid sick leave very often.

There are some differences in income tax payment in Singapore. Personal income tax rates are among the lowest in the world. Foreigners’ working in Singapore is also easy but they have to maintain the specific decorum. Foreign working on either a Work Permit or an Employment Pass will be taxed. But there are some exceptions as well. A foreigner is regarded as a tax resident if he maintains some of the criteria and these are either has been in Singapore for three consecutive years or he has lived in Singapore for at least 183 days in one calendar year.