Singapore seems to be the first choice for immigration among the foreigners. Yes, it’s true that it has the best living atmosphere. But, this cannot be the only reason for so much of the immigrants flocking to the city every year. There are several other factors which bring people to this country. What are they? Let’s see here one by one.
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According to the research that was recently conducted by our company One Visa http://www.one-visa.com , the country is found to be full of innovation and opportunities. Therefore, the expatriates who choose this nation could enjoy a comfortable life here. As we are aware that the Asian Continent is becoming the hub of business development and the Island City is selected to be the center of the international trade. This is mainly because of the easier access to transport here.
You might be thinking that travel via boat will not be preferred by the businesses. But, it’s not so. This place is found to be attracting several organizations those need access to the continent from across the globe. I would say that the country is rightly located in the central part of Southeast Asia and hence, is easily accessible to almost all the major countries in the world. This is why several multinational businesses are operating their business centers here.
Yes, it’s agreed that the country is offering a lot to its immigrants. But, in most cases, the immigrants had to arrive here by the request of their companies. So, when they are bound to move, they should not have any hesitation for traveling such a long distance just for the sake of business. For these reasons, many companies are providing relocation packages more generously. These could include shipping charges, your air tickets, accommodations, vacations, healthcare, and much more. As a result of these, we can observe that the living standards are certainly increasing for the expatriates coming here. Hence, obviously, more people are opting Singapore for their immigration.
Lower Tax Rates:
Each and every one of us is attracted to lower tax rates, right? And, this country has this! The favorable rates of tax are attracting more people towards it and also encourage them to opt for longer residency here. When we had a look at the country’s tax system, what we found is that it is having one of the most regulated systems thereby leading to the lowest rates when compared to several other developed nations.
Yes, I agree that all the outsiders are required to pay tax. But, this rate would vary based on their residency status and is mainly calculated based upon the number of days being spent in the country. Therefore, most people would opt for a long-time stay here.
Furthermore, the country is offering several tax relief programs for spouse, kid(s), and parents. The country has made such agreements with almost 34 nations for the purpose of assuring that the expats are not facing the burden of double tax while being in the country. This is also supporting the elevated investments in the nation!