With a convenient location in Southeast Asia, Singapore has become a coveted destination for expats. The reason for this is that Singapore is an enormous power house for the financial industry within Asia. Due to this presence of the world’s top financial firms, it is no surprise that a fascinating expat community has developed within Singapore in a wide variety of industries. When considering whether Singapore is an ideal fit for your expat life, be sure to contemplate the strict rules and regulations that the country possesses. This knowledge will help you to make sound decisions as an expat and ultimately, have a more pleasant experience while you are residing in Singapore. Consider the following Do’s and Don’ts for new expats residing in Singapore:
Do’s for New Expats Residing in Singapore
Utilize Money Transfer Companies to Move Your Assets
Money transfer companies are a useful avenue to pursue when attempting to move money abroad as an expat. The reason for this is that they allow you to transfer your assets with minimal fees and the best possible exchange rates. This is why it is highly recommended to use money transfer companies in order to use your money in the most efficient way when relocating abroad. The personalized service combined with the great rates make money transfer companies essential for a new expat in Singapore to utilize (here are a few of the leading money transfer companies to Singapore).
Take Advantage of the Great Public Transport
Singapore is quite famous for their sophisticated public transportation system. For this reason, it is highly recommended to take public transport in Singapore. This will allow you to avoid overpriced taxis and the cost of owning your own vehicle. Additionally, you will be able to enjoy one of the most well-maintained public transportation systems in the world as you travel to your desired destination of choice.
Enjoy the Low Crime Rate
Singapore also has one of the lowest crime rates in the world. The crime rate is something that will allow you to live quite easily as an expat. Be sure that you take this into consideration when deciding to go out late at night as a foreigner. While Singapore is quite safe, it is still best to have an awareness when going out later in the evening in a big city.
Don’ts for New Expats Living in Singapore
Don’t Chew Gum
Singapore has a very clean country. There is a reason for this and it is related to the strange rules that Singapore has passed in order to maintain order in their country. One such rule is related to gum chewing in public. Singapore has outlawed chewing gum and it has made a positive impact on their society. That being said, there are strict punishments for chewing gum, which is why it is best that the new expat is made aware of this rule quite early on during their stay in Singapore.
Think Twice Before Buying a Car
Cars are quite expensive in Singapore. Since the public transportation system is so well developed, it is important to consider whether it is necessary to purchase a car. In addition, parking is very expensive in Singapore. Having a car is a major financial responsibility that goes beyond the purchase price, which is why it is wise to consider the benefits and detriments that purchasing a car would cause your finances as an expat in Singapore.
Be Sure the International Schools Have Space and That You Can Afford Them
In Singapore, there is a very tight-knit` international school community. What this means for new expats is that it is very difficult to get into these schools for foreign children. It is also very expensive to afford these schools. Be sure to properly research these schools before coming to Singapore and even fill out an application for your children to attend. By doing so, you will be able to ensure that your children will be able to get into international schools in Singapore and that you will be able to afford them.
There are many benefits to moving to Singapore as an expat. Singapore has every luxury that an expat could hope for. What comes with those luxuries is a very high cost of living that may come as surprising to many expats. By being smart with money transfer companies, utilizing the public transportation system, and enjoying the low crime rate, expats can truly make a wonderful experience out of living in Singapore. Conversely, expats do have to be careful regarding chewing gum, buying a car, and international school cost/availability. If the new expat takes these important aspects into account, they will be able to make a solid home base in Singapore that will enable them to enjoy a rich culture with close proximity to many memorable destinations across Asia.