First, just to structure things, go with this template: http://forum.singaporeexpats.com/viewtopic.php?t=101985 You've already answered some questions but maybe looking at it will help identify those that you haven't.ER2015 wrote:Hello all, my company offered me a position in our Singapore office. Although I'm excited about the opportunity, I'd like to do a reality check before accepting the offer. Some facts are:
I'm single female in early 30's. No kids/spouse to support but would like to bring my 5-yr old dog
US citizen (will need to pay some US taxes)
Salary offered: $120,000 (us$)
One time relocation allowance: $10,000 (us$)
NO other allowance. Standard company policy, will be hard to negotiate
My questions are:
1. With this amount $, will I be able to rent a decent size apartment (>= 800sft) within 20 min (by public transportation) of work (near Great World in central area)?
2. Will I be able to have a "comfortable" lifestyle? I don't drink or party a lot but do enjoy eating out once in a while, and some regional travel
3. How easy is it to bring and live with a dog (medium to large size) in Singapore? Easy to rent a pet friendly apt? Is it easy to find dog walkers/sitters? Are there areas/parks that allow dogs to roam around off leash?
I'm currently living & working in NYC, which cost of living is considered comparable to Singapore. But I've also heard Singapore can be more expensive in a lot of ways. Therefore I'd like to make sure if I relocate to Singapore to work a few years, at least I'm not lowering my current standard of living. Any insights/suggestions will be greatly appreciated. Thank you in advance!
E.R.
Yes, you shouldn't have a problem. Your salary will be pretty good to live a comfortable lifestyle.ER2015 wrote:Hello all, my company offered me a position in our Singapore office. Although I'm excited about the opportunity, I'd like to do a reality check before accepting the offer. Some facts are:
I'm single female in early 30's. No kids/spouse to support but would like to bring my 5-yr old dog
US citizen (will need to pay some US taxes)
Salary offered: $120,000 (us$)
One time relocation allowance: $10,000 (us$)
NO other allowance. Standard company policy, will be hard to negotiate
My questions are:
1. With this amount $, will I be able to rent a decent size apartment (>= 800sft) within 20 min (by public transportation) of work (near Great World in central area)?
2. Will I be able to have a "comfortable" lifestyle? I don't drink or party a lot but do enjoy eating out once in a while, and some regional travel
3. How easy is it to bring and live with a dog (medium to large size) in Singapore? Easy to rent a pet friendly apt? Is it easy to find dog walkers/sitters? Are there areas/parks that allow dogs to roam around off leash?
I'm currently living & working in NYC, which cost of living is considered comparable to Singapore. But I've also heard Singapore can be more expensive in a lot of ways. Therefore I'd like to make sure if I relocate to Singapore to work a few years, at least I'm not lowering my current standard of living. Any insights/suggestions will be greatly appreciated. Thank you in advance!
E.R.
Minor correction is that one can exclude more than usd 100K as there is also foreign housing exclusion. Rough rule of thumb for single person is usd 625 on the first usd 100k + annual rent. So if rent+utils is a realistic usd 30k per year, US tax will be limited to usd 625 on usd 130k salary. $625 is derived from (28-13)% * (14500-10000). Form 2555 instructions explains rationale.zzm9980 wrote:Rents will be comparable to Manhattan for you, but your taxes will be much lower. You'll only be paying US taxes on everything over about 100k. Go google for "IRS Form 2555" and "Instructions for Form 2555". It should answer all of your questions on taxes for your salary. Non-cash compensation (stocks) will still be paid normally. Look up tax residency for state and NYC to make sure you won't be considered a tax resident there either.
Another correction. The foreign housing exclusion is only available if your employer is paying the rent, not you. If you are not receiving a verifiable housing allowance or if the company is not leasing the propery for you to live in, you cannot claim this allowance. Allowances are taxable in Singapore. More info... slightly dated but still accurate:GSM8 wrote:Minor correction is that one can exclude more than usd 100K as there is also foreign housing exclusion. Rough rule of thumb for single person is usd 625 on the first usd 100k + annual rent. So if rent+utils is a realistic usd 30k per year, US tax will be limited to usd 625 on usd 130k salary. $625 is derived from (28-13)% * (14500-10000). Form 2555 instructions explains rationale.zzm9980 wrote:Rents will be comparable to Manhattan for you, but your taxes will be much lower. You'll only be paying US taxes on everything over about 100k. Go google for "IRS Form 2555" and "Instructions for Form 2555". It should answer all of your questions on taxes for your salary. Non-cash compensation (stocks) will still be paid normally. Look up tax residency for state and NYC to make sure you won't be considered a tax resident there either.
One month should be sufficient even with the dog as long as you're not extremely picky. I was rather picky on a particular style of unit and limited myself to a small ~750sq/m neighborhood and still found something in a month. Finding something isn't extremely hard, the catch is usually just that once you find something agents and landlords take their time and it might be another 2+ weeks between indicating interest and actually being able to move in. As opposed to the US, where I've received keys the same day.ER2015 wrote:Thank you all for your very helpful replies and information! I am not too worried about the language or local culture (parents were originally from Taiwan so I am fluent in Mandarin, but have limited experience living in Asia and have never been to Singapore). My biggest concern, apart from the financial aspect, is my dog. Her breed is not restricted in Singapore, but I understand housing will be an issue.
As for temporary housing, I may be able to have my company pay for it, but at 2-3 months max. Is 2-3 months enough time to find an apt/sign the lease, in general? It usually doesn't take more than 1 month to find something in NYC (unless someone is extremely picky, which I am not - but again, the dog thing may be an issue). I hope it is not much harder to find a decent apt in Singapore that allows dogs. My Singapore office may be able to help a bit, but we don't have a "relo department" that can devote full-time resources into this.
The assignment will be 3-5 years, and will be a great opportunity for my career advancement. I will check out the AVA site and get more information reg. importing a dog.
I've also seen a large 'dog run' area in Bishan Park.the lynx wrote:So far the only place I know where dogs can play unleashed is at one section of West Coast Park. Some HDB RC groups set up own gated dog playground in open spaces where dogs can mingle and play with each other.
The others have given you some good input already, to add, it really depends on how you define "my current standard of living".ER2015 wrote:I'd like to make sure if I relocate to Singapore to work a few years, at least I'm not lowering my current standard of living. Any insights/suggestions will be greatly appreciated.
It's not as diverse as you think. I've seen more diversity in a particular train station in suburban Sydney than the whole of Singapore. It's United Colors of Benetton (the train station) vs. Chinese-Indian-Malay-White (Singapore).ER2015 wrote: I had thought Singapore, like Hong Kong, is quite diverse in multinational culture as there is a large number of expats from all over the world. Is this not the case? Do expats often interact with each other and the locals?
If you're comparing it to Hong Kong, then you'll find it similarly diverse, if not more so. It is not a NYC or LA where you have ethnic enclaves all over. But of the represented cultures (mentioned by Nak above) you'll find a lot.ER2015 wrote:Thank you for the information on dog/dog run - I have made notes of it.![]()
I was a bit surprised about this comment: "You're moving from one of the top cultural locations in the world to one of the lowest, in terms of arts and entertainment in general, and variety in many things." - I had thought Singapore, like Hong Kong, is quite diverse in multinational culture as there is a large number of expats from all over the world. Is this not the case? Do expats often interact with each other and the locals?
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