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cost of living in Singapore - please urgent help!!!

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Oct 31st, 2001, 07:19 AM
  #1
Karen
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cost of living in Singapore - please urgent help!!!

I work in London in an international company and I have been offered to transfer to our Singapore branch for 1 year; I really want to go, but as I have bought a house in London and therefore have to pay the mortgage I wonder if salaries are in the same level than in London so I could pay the mortgage for my house while Iím in SingaporeÖ or maybe I could let the house while Iím thereÖ. The job is at executive/senior exec level (not managerial role Ö yet!!!)

Any advice would be appreciated Ė thank you
kate
 
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Oct 31st, 2001, 11:19 AM
  #2
James Allen
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Wekk Karen it depends entirely on what they are paying you and what the 'transfer' arrangement is? Have they not told you the salary?
As you say the company you work for is an international one, and it is a company transfer, I think the best course of action is to go along to your company's Finance/Accounting department
and find out exactly how your salary will be paid.
There will be tax issues which you really need your company's accountant to look into for you. The points you need to know/arrange:-
a> Have your salary paid in Singapore in full, tax levels much much lower than UK.
b> You no doubt get tax relief on your mortgage. I am not an accountant but your tax/mortgage allowance etc is based yearly so your accountant must fill in a couple of forms about your tranfer.
c> Is accomodation included in Singapore? Normally your company's Singapore office will arrange your accomodation and pay for it, this will then be reflected in your salary. It would be extreamly unusual that you would have to deal with finding an apartment/flat there yourself.
As far as day to day living expenses go
apart from high accomodation costs overall Singapore is cheaper ( although expensive on Asian terms ).

Don't miss this golden opportunity, not only is it a great chance and an experience it will be 'priceless' on your CV! If you get a 1 year transfer you could be lucky and continue working there.

I really think tomorrow you need to walk along the corridor to the accounts department. Will the UK branch pay you or will the Singapore branch pay? All vital questions. Although prices in Singapore are OK be prepared to have a 'richer' social life, lots of going out, weekend gatherings, socialising, but again, a chance not to be missed.

Good luck!..Go for it!

James
 
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Oct 31st, 2001, 06:07 PM
  #3
wayne
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I live in Singapore. Your question is too vague in terms of your salary, whether your taxes and housing are paid by your company, what you are looking for, etc.

Generally pay and cost of living in Singapore is the same as in London after taxes. Max S'pore tax rate is 24%. If you earn GBP50K you will be taxed only 12%.

Rent is pretty low now. You can get a 2 bedroom condo abt 30 mins from the city by MRT for S$1600 or GBP650. In prime locations, double that.

Food is cheap if you eat local food. R'rant prices are the same as London's.Taxis are cheaper than London but cars are the most expensive in the world. GBP40K for a Honda Civic 1.6!!!

E-mail if you need more info.
 
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