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Moving to Singapore, questions concerning IRAS and stuff

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Propool
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Moving to Singapore, questions concerning IRAS and stuff

Post by Propool » Mon, 29 Dec 2008 4:22 pm

Hi, I´m an european man living in Asia.
I have pension paid by an insurance company so I don´t have to work where ever I live.

Now I am thinking of moving to Singapore ´cause they are not charging any taxes of my pension coming abroad, this I found out by phoning to IRAS in Singapore.

I´m sure there are a lots of answers to these questions of mine but I must say my english isn´t too good so I´ll just ask a few:

What does the IRAS in Singapore need from me when I will move there? I mean, do they need some rental contract of my permanent residence in Singapore or what sort of visa do I need to stay there?

I was thinking like maybe spendinding a little time in Singapore but like I allways have, I´d still be travelling a lot around the world so I would move my books to Singapore and I would be more than happy if you dear members would guide me through this thing.

My schedule is the sooner the better.

Thank you allready, Pro-pool
Damn it´s hard but I like this way, my way

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Saint
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Post by Saint » Mon, 29 Dec 2008 4:27 pm

It will very hard, if impossible, to get a visa to enable you to stay in Singapore for an extended period. Harsh, but true I'm afraid.

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Post by Propool » Mon, 29 Dec 2008 4:34 pm

Is that so?

Singapore is like not wanting any people in their country?
Especially in my case, I´m as pure and innocent as a man can be.
Damn it´s hard but I like this way, my way

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sundaymorningstaple
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Post by sundaymorningstaple » Mon, 29 Dec 2008 5:17 pm

Singapore is a small Island with a lot of people on it. They don't really want to let people in unless they are productive to the government. What good is letting people in who could possibly become a drain on the economy? The odds of that happening is very small unless you are willing to invest a rather large sum of money here. (Like in Sentosa Cove maybe)
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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Post by Saint » Mon, 29 Dec 2008 7:20 pm

sundaymorningstaple wrote:Singapore is a small Island with a lot of people on it. They don't really want to let people in unless they are productive to the government. What good is letting people in who could possibly become a drain on the economy? The odds of that happening is very small unless you are willing to invest a rather large sum of money here. (Like in Sentosa Cove maybe)
Very well put SMS :wink: :cool:

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Post by durain » Mon, 29 Dec 2008 7:42 pm

there's no retirement visa in singapore and if you want to setup a business in singapore, you need one million singapore dollar investment.

have a look at www.mm2h.gov.my if across the causeway is OK with you. cheaper too with the ringgit. :)

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Post by Propool » Wed, 31 Dec 2008 4:47 pm

So for me to get to be taxed in Singapore they are requiring this some priticular type of visa and place to live?
I´d also need the necessery documents from IRS Singapore to show to my own country´s IRS meaning that I am being taxed in Singapore so my own country would stop taxing me at that very moment.

Seems impossible, but I just want to make sure.
Damn it´s hard but I like this way, my way

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Post by jpatokal » Wed, 31 Dec 2008 7:50 pm

Propool wrote:So for me to get to be taxed in Singapore they are requiring this some priticular type of visa and place to live?
The visa is the important (and hard) part. Whether you actually live here doesn't really matter, as long as you've got a mailbox, which can be arranged for a few hundred bucks a year.
Vaguely heretical thoughts on travel technology at Gyrovague

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sundaymorningstaple
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Post by sundaymorningstaple » Wed, 31 Dec 2008 8:01 pm

Propool wrote:So for me to get to be taxed in Singapore they are requiring this some priticular type of visa and place to live?
I´d also need the necessery documents from IRS Singapore to show to my own country´s IRS meaning that I am being taxed in Singapore so my own country would stop taxing me at that very moment.

Seems impossible, but I just want to make sure.
This would depend on the country you come from. Some countries have tax treaties of varying scopes with Singapore other don't have any at all. A good example of the former is the US. Singapore has a tax treaty with the US BUT it is only in the import/export arena. There is not a personal tax treaty with Singapore so if you are an American Citizen you are taxed on your worldwide income regardless where you live or who your work for or even if you work for yourself.

So you don't get any "paperwork" from Singapore. You have to check with the laws of Your country to find out what they require (if they in fact require anything other than maybe a copy of the local tax return or copies of your resident status here. Every country is different so without knowing that........
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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Post by Propool » Wed, 31 Dec 2008 10:21 pm

Thank you for your reply.

I do know the policy in my homecountry and as I told they will need a proof of me living there.
Many countries have the system where you are calculated to belong to their taxsystem even if they are not charging you any taxes- that´s why I thought it would be the IRS in Singapore who would give these proofs needed.

So then it´s more clear that it´s almost impossible for me to get the benefits of living there, ´cause as obvious it´ll be that some sort of document saying that I have a resident in Singapore that would be this priticular paperwork needed in my country´s IRS to go for a proof.

Thank you very much once again, this cleared the picture quite a lot.

Pro pool
Damn it´s hard but I like this way, my way

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