Benefits of moving to Singapore from Australia?

[MF35]

Hi Everyone,

I'm currently an investigator in Australia considering options in private enterprise that could see me based in Singapore in the next year or two. I am married with one child and we will be trying for a second child in a year or two. My wife is a manager in Injury Management (Occupational Therapy Degree). We currently own, and plan to continue to invest in, Investment Properties/Real Estate in Australia.

We understand there are many benefits to be gained from living in another country other than financial ones. However, we wouldn't move to another country to work unless we thought we'd be better off financially.

I'm hoping that people who have moved from Australia (or other countries) to Singapore to work can tell me how beneficial they have found the move in financial terms? What exactly makes you better off and do you have any tips to share?

I'm also interested specifically in the experiences of Australians who own Investment Properties in Australia while working in Singapore and those who have continued to invest in Australian Real Estate while working in Singapore.

Any info is much appreciated.

MF35

[RobinHood]

Hi there,

I am not Australian but have lived in Australia before.

All I can say is life in Singapore is much more fast paced than Melbourne or Sydney and it depends whether or not this suits your own preferences. On the one hand the shops are open till 10.00 pm and you can have items delivered to you on the same day (even on weekends) you order them. On the other hand service is impersonal, life can get pretty stressful, and seeing as you are considering setting up your own private enterprise, your clients will have the same demands on you (i.e. to be on standby 24/7 even on weekends).

However as far as business is concerned you will be pleased to know that the tax regime in Singapore is far more business-friendly than in Australia - income tax is the second lowest in the world, corporate tax is also very low, and the GST is only 7%. Labour laws also favour businesses, with there being no minimum wage and no trade unions, if you are displeased with your secretary or driver you can fire them instantly without having to worry about a hefty payoff.

Cost of living is comparable to Australia.

[darian]

HI MF35,

IM ALSO AN INVESTIGATOR BASED IN THE BANK.
DO LET ME KNOW IF YOU ARE RECRUITING YEAH!
CURRENTLY, IM IN MALAYSIA N WISH TO MOVE TO SINGAPORE.

CHEERS!