Retirement planning in Singapore often revolves around the Central Provident Fund (CPF), but savvy savers can boost their nest egg through the Supplementary Retirement Scheme (SRS). This voluntary scheme offers flexibility, tax benefits, and investment opportunities. Here’s what you need to know. Key Features of the SRS Voluntary Contributions: Top up your retirement savings [...]
The government has these three schemes to support the employment of senior workers, ex-offenders and persons with disabilities respectively. a) The Senior Employment Credit (SEC) b) The Uplifting Employment Credit (UEC) c) The Enabling Employment Credit (EEC) These schemes were slated to expire after 31 December 2025. However, the government, in Budget 2025, has made [...]
According to section 2 of the Central Provident Fund Act (CPF Act), wages means the remuneration in money, including any bonus, due or granted to a person in respect of his employment but does not include such payments as the Minister may, by notification in the Gazette, specify. All items that fall under the definition [...]
Yes, the cost of living for expatriates in Singapore is generally considered high compared to many other cities. However, it can vary significantly based on lifestyle choices, housing arrangements, and spending habits. Here's a breakdown of the key factors influencing the cost of living: 1. Housing Cost: Housing is one of the largest expenses for [...]
Yes, as a foreigner, you can incorporate a company in Singapore and apply for a work pass to work in your own company. However, there are specific requirements and steps you need to follow to meet Singapore's legal and regulatory standards. Here’s how you can proceed: 1. Incorporating a Company in Singapore Foreigners can incorporate [...]
Getting a job in Singapore as a foreigner can be relatively straightforward for individuals with in-demand skills or qualifications, but it depends on several factors. Some industries may be more difficult to obtain a job as compared to others. Here is an overview: 1. Industry and Skills Demand High-demand sectors: Singapore prioritizes foreign talent in [...]
In Singapore, the Ministry of Manpower (MOM) offers various permits and passes to facilitate employment for foreign nationals. Among these, the Letter of Consent (LOC) and the Pre-Approved Letter of Consent (PLOC) are two important documents that enable eligible individuals to work in Singapore. While they may seem similar at first glance, there are key [...]
Yes, Long-Term Visit Pass (LTVP) holders can work in Singapore, but there are stricter conditions compared to LTVP+ holders. Key Points for LTVP Holders: Work Eligibility: LTVP holders are not automatically allowed to work in Singapore. They require a Letter of Consent (LOC) to take up employment. Letter of Consent (LOC): Employers must apply for [...]
Yes, a Long-Term Visit Pass-Plus (LTVP+) holder can work in Singapore, but there are specific requirements and conditions. Key Points: 1) Eligibility to Work: LTVP+ holders are eligible to work in Singapore without needing a separate Work Pass (e.g., Employment Pass or S Pass). They only need a Letter of Consent (LOC) from the Ministry [...]
No. All S Pass or Work Permit holders are not allowed to be registered as company directors or secretaries. In addition, they are also not allowed to be shareholders of a Singapore company. Therefore, they cannot be registered with ACRA as company directors, secretaries and/or shareholders. If any S Pass or Work Permit holder does [...]