In a globalized world today, many people from many parts of the world are migrating from one country to the other. In Asia, Singapore has proven to be highly appealing for foreigners relocate and settle in. It is also often heard how Singapore is also popular among foreign investors and businesses to set up a corporation in the country due to its strong currency and infrastructure. This article explores more on what makes Singapore an attractive place for foreigners to live and work in.
1. Cultural diversity
Multiculturalism is deeply entrenched in Singapore – with a racially diverse population that comprises of unique ethnic cultures and religious traditions. It is easy to interact with different people, and it won’t be as difficult to find a group that you can belong in if you share similar a cultural or religious background. Plus, a large expatriate community has developed in Singapore due to the growing number of foreigners working and living in the country. This allows people to interact with others from their home country and share similar experiences. Connecting with them will also provide a sense of belonging and community.
Businesses that wish to embrace cultural diversity can also find it effortless to conduct business in Singapore due to the country’s openness towards multiculturalism. For instance, it is easy for foreigners to get approved for work permits as long as the necessary requirements are met.
2. English as the main language of communication
From a social perspective, there are fewer challenges when attempting to integrate and adapt to life in Singapore. One of the reasons for this is the linguistic diversity in the country. English is one of the official languages of the country, thus English-speaking foreigners won’t have to worry about a language barrier in Singapore. It makes it easy for people to communicate and do business with each other as well as other countries around the world. For those who are able to speak Mandarin can also find themselves at an advantage, as a majority of Singaporeans also converse in Mandarin.
3. One of the top education systems
Singapore has a strong education system with a successful education model. This has led to a considerable sense of achievement by topping at OECD’s PISA survey – which evaluates the knowledge and skills of the world’s 15-year-olds. From pre-school to University academic level, students are nurtured and prepared for the complex demands of the 21st century. It is also worth mentioning that many come to Singapore to pursue the educational opportunities that the country offers. As a foreigner working in Singapore, there are ways for you to further your education and receive certification. For foreigners living with their family in Singapore, they can look forward to providing their children with an education system that offers relevant pathways for all academic levels and interests.
4. Business-friendly ecosystem
Singapore has a pivotal role as a business epicentre in the heart of Asia, and hold a unique position in the world economy. It has some of the best environments for doing business, with plenty of incentives such as easy company registration, foreign income exemption, and attractive personal tax framework. The country has a strategic location set in between the world’s main shipping and trade routes, and close proximity to neighbouring emerging markets which is advantageous for trade and industry. With a favourable business atmosphere, Singapore has attracted many multinational companies and expats from different countries around the world.
Gain financial help with foreigner loans
Most foreigners might find it tougher to apply for loans, as compared to a Singapore resident/citizen, as there is a lack of options from traditional lending institutions to extend loans to foreigners. Money can be a challenge when you are migrating and relocating to a new country, thus you can consider looking into a foreigner loan in Singapore. Legal money lenders, we offer quick cash loans with flexible repayment terms and low-interest rates. Most applications require identification documents, payslips and letter of employment to process your loan request. Talk to our financial advisors today for a suitable loan package to ease your financial worries and look forward to this new phase of life in Singapore!