Retiring in Singapore

[markymerlion]

I lived in Singapore from 1991 to 2005 and returned back the USA. I am retiring next year and wanted to fund our how to go about obtaining information for an American citizen to come to Singapore and retire. Anyone have any information or requirements. Single, and no family. Thanks

[Strong Eagle]

Technically, a foreigner can't live in Singapore without a work permit. Even PR's who aren't supported by another on the family PR scheme may find themselves without PR if they don't have a job for an extended time.

Having said that, there are obviously exceptions. For example, the retired managing director of a very large accounting firm in Singapore is a PR and retired.

I've no pipeline into the ICA... and, have you looked at the investors' program for PR's?

https://www.contactsingapore.sg/gip

[PNGMK]

You'd be better off in Thailand, the PI or Malaysia. They all have legit retirement visa programs.

[shao.kevin]

In same shoes, considering retire in Singapore at later stage, am still working in Singapore. Three things to consider 1. How can you stay long team here without PR? 2. Monthly 10K SGD for a comfortable life style here; 3. Will SS pay check mail out to you here?


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[sundaymorningstaple]

Yes they will (SS). However, I don't bother as I've always kept two sets of banks and CCs, etc. (US & SG) I've been here 36 years and just retired 3 months ago. Without PR the only way is SG Citizenship and renouncing your US citizenship (while it's not illegal in the US to hold multiple passports, it is here in Singapore). I've been a PR for over a quarter of a century, but I'm a PR based on Family Ties.

[RobSg]

While I have not been here as long as SMS, I did call Singapore home for 25 years as a PR. I like to pop into this forum occasionally to see how life is going on there. Leaving Singapore and retiring in the States was very difficult, and it took a 3 years or so to adjust to stateside living.

When I first got my PR through my job, I thought that it meant that I could stay there and retire. It was never a certainty. At the time I got my PR, I was told that even after I leave work and retire, I could remain as a retiree and not work. That policy changed. The uncertainty would make retirement difficult.

I think of what my life would be like in Singapore if I did retire there. I suspect that my days would be rather limited- visit to the hawker center, walk in the park, grab a beer, or visit a museum. I just don't think my retirement would be happy one. If I were ever sick and needed medical care, I'd be stuck with a large bill without proper health insurance due to my age (73).

I made the right choice. I have a house in the PNW, I'm 30 minutes driving from Vancouver, and I have endless activities with my dog on some of the best hiking trails. The temperature today may reach
20 degrees Centigrade, and that's comfortable. Health insurance for any retiree under 65 can be problematic, but Medicare is the best.

I'm not trying to sell to on not retiring in Singapore, but just to let you know that I'm pretty happy now. Even if you did retire there as a PR, you'd need to work to hold the PR, and I would think you would want to return to your home country when you are really old (over 80).

Rob

[PNGMK]

How nice to hear from your RobSg! I agree with you. I have no intentions of retiring here simply because even local retirees are not that happy here.

[Strong Eagle]

Hi RobSg. I, too, appreciate your post. I really loved living in Singapore, and it took me 3 years of grief and depression to come to grips with living back in Houston, Texas.

And yet, the wife and I went back to SG last year for our 40th. It was great fun to visit, and, as you said, once you've seen the sights, ridden the latest MRT routes, and settled back in, what is there?

And especially for retirement costs and health insurance. We can live very well and travel on our SS and retirement investments. I judge that our housing costs would be close to double in SG... and health insurance? Only a global policy would work and the prices for those climb dramatically when you hit a tender age of 70 as I am about to. Medicare with a Medigap plan creates excellent coverage at a reasonable price.

I do miss Four Floors, though...

[PNGMK]

I don't think I've been in four floors for years... even since an ex boss who is also an ex drug detective pointed out the Albanian mafia there.

[Strong Eagle]

I don't think I've been in four floors for years... even since an ex boss who is also an ex drug detective pointed out the Albanian mafia there.

I walked into the Top Ten Club (I think it's Top Five, now?) on the top floor, once. Beautiful women. And lots of big guys wearing suits that didn't fit too well. Not a chance in hell I'd even say hello to one of those women.

And I can't help but wonder... how do they operate with impunity in Singapore? There was a Russian bar, thugs, and dozens upon dozens of gorgeous Russian models that lived in my Serviced Apartments in KL. With rampant corruption in Malaysia, this didn't seem too surprising at all. But in Singapore?

[PNGMK]

I don't know SE and I have wondered the same. I assume they come in on a SVP or whatever and their pimps just pay the fines and bring them in as many times as they can before they are banned. You rarely see the same faces for more than a month or so.

My wife who understands Russian walked past some who were staying in a serviced studio on Kim Keat Link a few times on our evening constitutional - she was listening to what they said and she said two things - they are a LOT younger than you think and they are hard as nails already .

MDIS etc do cater specifically to the Russian market by the ways. It's possible and believable that a lot of them are on student passes.

[shao.kevin]

SINGAPORE: Six men and a woman aged between 22 and 27 were on Thursday (Jul 4) charged with the murder of a 31-year-old man at Orchard Towers.
Read more at https://www.channelnewsasia.com/news/si ... d-11689430


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[Max Headroom]

For PRs wanting to retire in Singapore, would starting/running a (SOHO) business be the way to go? I mean, you can then get an EP; just extend it periodically.

You would still need to work of course, but it shouldn't be anywhere near full-time by then. Either way, I don't think it's a good idea to not work at all anyway, not only in terms of keeping your brain in shape, but also fulfillment-wise.

Not sure if this route is permitted though?

[PNGMK]

For PRs wanting to retire in Singapore, would starting/running a (SOHO) business be the way to go? I mean, you can then get an EP; just extend it periodically.

You would still need to work of course, but it shouldn't be anywhere near full-time by then. Either way, I don't think it's a good idea to not work at all anyway, not only in terms of keeping your brain in shape, but also fulfillment-wise.

Not sure if this route is permitted though?

IF you are a PR the gahment will allow you to 'retire' here. No need for EP. We have our test case SMS doing this right now.

[Max Headroom]

Cheers, PNGMK. That said, SMS mentioned "family ties", presumably by marriage. I wonder if his scenario works when there's no family ties eh.






Edit: punctuation.