expat survival guide: singapore - world first...online grocery stores let your fingers do the...

ExpatSurvivalGuide:Singapore

Fresh off the plane?Congratulations!You’ve taken the plunge, made the move to Singapore and can now tick being an expat off your bucket list. To make your transition to the Little Red Dot a lot easier, global currency transfer specialists, WorldFirst, are here to give to give you the 101 on winning at life in The Lion City. From international money transfers with bank-beating exchange rates, to where to socialise as a newbie in town, we’ve got you covered.

Whether you’re here for a short stay, or in it for the long haul, make the most of yournew life in Singapore with our expat survival guide.

CONTENTS

02#Lifehack: Super useful apps every newbie to Singapore needs

03Keeping healthyin Singapore

04Everything you need to know about workingin Singapore

05Insurance solutions

06The guide to grocery shopping in Singapore

07Keeping up-to-datewith Singapore’sproperty climate

08Sports in Singapore: Clubs and teams to check out

09Sending moneyto an overseasbank account

10Get your doseof culture

11Buying a car inSingapore? Here’swhat you need to know

12How to get accessto hundreds of offers

13Meeting new people:An expat 101

14Be part of theAmerican community

15Why you should joina members’ club

16All about The British Chamber of Commerce

17Motor vehicle solutions made easy

18Setting up a businessin Singapore

19Managing yourfinances

W O R L D F I R S T | 0 1

Get this app for…Navigating the publictransport system

Public transport is going be amajor part of your life. On mostdays, it’s a breeze, provided youknow your way around. TheCityMapper app will give youeverything you could possiblyneed, such as the nearest busstops and MRT stations.

CityMapper (citymapper.com/singapore), available foriOS and Android

Get this app for...Finding the perfect home

Scoring an apartment thatdoesn’t break the bank isprobably the first priorityon your checklist. Thankfully,there are websites like 99.co to make the process easier. Pick from condominiums, HousingDevelopment Board flats andlanded properties, and call ortext agents and homeownersvia the app.

99.co (99.co), availablefor iOS and Android.

Get this app for… Putting the pedal to the metal

Bike-sharing is a fun and eco-friendly way to get around.Sign up for a prepaid packageand the Mobike app maps outthe closest ride to you. All youneed to do is find the bike andscan the QR code. Ofo bikesare also available islandwide.You can opt for a one-time ridewith no deposits or choose amonthly pass. While there areseveral taxi apps to choosefrom, you’ll still need ride-sharing app, Grab. It offersfeatures such as an inbuiltdigital wallet that you can useto pay for food and shopping.

Mobike (mobike.com.sg), Ofo(ofo.com) and Grab (grab.com/sg),available for iOS and Android.

Get this app for…Friend-dating

Love to socialise? There’s a groupfor that. With your apartmentsorted, you’re going to needa crew to chill with. Meetupis a lovely service that lets youjoin groups and find people whovibe with you, from pub crawlersand brisk walkers, to amateurbadminton players andphotographers.

Meetup (meetup.com), availablefor iOS and Android.

Get this app for…Staying connected

Several public places in Singaporehave free WiFi. It’s fast, safe andexactly what you need if you’re ona limited data plan. Download theWireless@SG app, register yournumber and watch as manyYouTube videos on the go asyou want.

Wireless@SG (imda.gov.sgwireless-sg), available for iOS and Android

#LifehackSuper useful apps every newbie inSingapore needsMoving to a brand new country canbe both exciting and daunting in equalparts, but we’ve got your back with thisall-essential list

0 2 | H O N E Y C O M B E R S | W O R L D F I R S T

TopTenTips

FROM OURDOCTORS:

REMEMBER

01Wash your

hands frequently

02Protect open

wounds

03Drink plenty of

water and add onminerals or sea salt

04Protect yourself

from the sun

05Protect yourself

from mosquito bites

06See a doctor

if you arehaving a feverfor more than48 to 72 hours

07Do not take any

anti-inflammatorymedication without

medical advice

08See your familydoctor at least

six weeks beforeyou travel forvaccinations

09Check your

health insurance

10Go on

regular medicalcheck-ups

Looking for a trusted healthcare practitioner in a new country canbe stressful.

Thankfully, Singapore’s medical facilities and standards rival any in the world. Complete Healthcare International (CHI) offers a full range of familymedical services, health screenings, vaccinations and travel advice thatyou can rely on.

CHI has been formed by a group ofexperienced doctors (GPs), nursesand staff who come from diversebackgrounds and countries but areprofessionals with the common aimof providing a high standard ofhealthcare for the whole family.

Together, we can work towards healthy lives for you and your family so you can live the way you want and be the best that you can be.

Keepinghealthy inSingapore


Office hours

Good news, the working day mostlystarts a little later at most officesin Singapore. The not-so-good news?This means the day can end a littlelater too, so ditch any happy hourplans; the bar will have to wait. Ifyou’re sitting at your desk and it’sall gone completely quiet, sneak apeek at the clock and we’ll bet it’slunchtime. Tumbleweeds roll throughthe office between 12 and 2pm, aslunch is a social time that takesworkers out of the office for thefull hour at least.

Dress code

“Wear what you want” is the generalfashion maxim in this town, and withinreason. Unless you are told otherwise,the office dress code is usually smartcasual but on the side of caution, gosharp during your first few monthsat work. Oh, and with the office airconditioning running high, thosewith jackets on can still stay cool.

Everything you need to know about workingin Singapore

Before you put up that desk photo ofyour dog or head to the water cooler for

a chat, here are a few local rules thatyou might want to take note of

Business cards

Two hands are better than one in theRed Dot – you can’t just flick yourbusiness card across with one hand.Here in Singapore, manners really domatter and the card-pass is the firstthing you must learn, because you’regoing to be doing it a lot. Grasp thecard carefully between the thumb and finger of both hands and proffer it forward, then get ready to receive one back in the same manner.

Networking

Building networks by joining aprofessional or business associationis a great way to make new contacts,meet other like-minded people andlearn from those experienced in doingbusiness in Asia. The internationalbusiness chambers in Singaporeprovide regular networkingopportunities and informativebusiness events, and are anexcellent source of information.

PUBLIC HOLIDAYS

IN 2019

1 JANNew Year’s Day

5-6 FEBChinese New

Year

19 APRGood Friday

1 MAYLabour Day

19 MAYVesak Day

5 JUNHari Raya Puasa

9 AUGNational Day

11 AUGHari Raya Haji

27 OCTDeepavali

25 DECChristmas Day

Singapore’s eclectic blendof religions means theholidays are a real mix.

0 4 | W O R L D F I R S T

Insurancesolutions

You can choose to buy local health insurance, or aninternational plan from either a homegrown insurancecompany or a non-Singapore insurer.

Depending on the plan, international health insurance can protect you in one or several regions, or even worldwide.

Most healthcare insurance in Singapore starts witha basic medical package, with add-ons available formaternity charges, dental, optical, health screeningsand so on.

The International Exclusive by AXA is an expatriateinsurance plan that gives you access to the best possible medical care, whether you live in Asia or are travellingabroad. It provides an annual coverage of S$4.5 milliona year for hospitalisation expenses, as well as outpatient treatment that covers general practitioner and specialist consultations, prescribed drugs, diagnostic testsand vaccinations.

Additionally, International Exclusive coversmaintenance of non pre-existing chronic conditions,allows cashless hospital admission upon approval,and provides international emergency medicalassistance such as evacuation and repatriationservices, 24 hours a day, 365 days a year.

As an expat in Singapore,


The guide togrocery shoppingin Singapore

Once you’ve settled into yourbrand new home, the next big

question is going to be: “What arethe best grocers and supermarkets

in Singapore?”

Supermarkets

NTUC FairPrice(fairprice.com.sg) runs over100 supermarkets across theisland and has everything youneed. Its slightly more upmarketsister, FairPrice Finest, stocksmore international brand andoffers great organic an freshproduce. Cold Storage(coldstorage.com.sg) offers avast selection of quality meats,bakes and fresh produce. Youcan find a carefully curatedselection of high end foodbrands at Market Place, asupermarket chain with storesdowntown. If you’re after bigsavings and great value, headto a Giant Hypermart(giantonline.com.sg) ora Sheng Siong store(shengsiong.com.sg).

Wet markets

Wet markets in Singaporecan be a fun grocery shoppingexperience. The name is derivedfrom their perennially wet floorsdue to vegetable washing andfish cleaning. Here you’ll be ableto get your hands on almostanything, from preservedgoods to live crabs and frogs.We like Tiong Bahru Wet Market(30 Seng Poh Road) for its wideselection of tropical fruit, and theflorists here are a godsend. Thebustling, vibrant Chinatown WetMarket (Chinatown Complex,335 Smith Street) is the placeto score delectable crustaceansand spices. Tekka Market (665Buffalo Road) is the island’slargest indoor wet market,and its butchers are secondto none.

Specialty stores

If you have specific dietaryrequirements, specialtystores like Super Nature(supernature.com.sg), BrownRice Paradise (mybrp.com.sg)and Little Farms (littlefarms.com)are places to get gluten-free foodstuff and more.

Online grocerystores

Let your fingers do the walkingand check out Honestbee(honestbee.com). As one ofSingapore’s largest onlinegrocery sites, it offers a mind-boggling range of products fromsupermarkets and specialty storesaround Singapore. Shopping onHonestbee is an absolute breeze as they’ll deliver right to yourdoorstep within the next hourof your order confirmation(whenever there’s a slot available).Other online grocery stores totake note of? RedMart(redmart.com) is a one-stop forall of your necessities. For thefreshest meat and fish, imported

Wine

Once you’ve seen the prices ofwine in Singapore, you’ll needa glass of vino to recover!Merchants Wine Cellar(merchantsofsingapore.com.sg)stocks boutique wines fromAustralia and NZ – direct fromboutique winemakers, so thismeans excellent prices on yourfavourite labels.

Tip: 24-hour supermarkets canbe found all around the island,

like the NTUC FairPrice atTanjong Pagar Plaza and both

Cold Storage and NTUC FairPrice outlets at Holland Village.

Tip: Need vino in a hurry?Order online from Bottles XO(bottlesxo.com) – this wine

delivery service will get you yourfix in less than an hour, with nominimum order or delivery fee.

from Australia and New Zealand,make your next spot TheFishwives (thefishwives.com).


More than just a search portal, 99.co’s blog(www.99.co/blog/singapore) is a one-stop resourcefor all property related content covering propertyguides to property analysis. Updated daily, it is agreat way to keep up-to-date with Singapore’sproperty climate, news and trends.

Questions on agent commissions or rentaldeposits? 99.co’s Property Community onFacebook (www.facebook.com/groups/yourpropertycommunity) is a free-to-joincommunity consisting of new and experiencedhomeowners, renters, property agents and key

opinion leaders. This is an excellent platform to reach out to fellow renters and buyers and have your questions answered by the community! 99.co has presence in Singapore, Jakarta, Surabaya, and Bandung and today boasts the largest set of property listings in both countries.

Don’t forget to download the 99.co appor visit www.99.co to surf properties onthe go and stay up to date with newlistings added daily!

Founded in 2014, 99.co (www.99.co) is the largestproperty portal in Singapore with over 150,000residential listings. With a unique map-basedsearch engine and smart property filters,landing your dream home can now be afast, transparent, and fuss-free experience.

Keeping up-to-datewith Singapore’sproperty climate


Sports inSingapore:Clubs and Teams to check outJoining a sports club is a great wayto meet new people and maintainan active lifestyle. Here are someof the most popular team sportsin Singaporew

Sports inSingapore:Clubs and teams to check outJoining a sports club is a great way to meet new people and maintain an active lifestyle.Here are some of the mostpopular team sportsin Singapore

Basketball

Looking to join anamateur team or toplay a friendly gameof basketball? BBAXN(bbaxn.com) is aplatform for basketballenthusiasts searchingfor some hoop actionin Singapore. The siteprovides a detailed listof information fromcourt rentals to friendlymatches around theisland. Alternatively,grab a bunch of palsand start your ownrecreation team. There are numerousoutdoor basketballcourts, like the onesat Ministry ofEducation’s Co-Curricular ActivitiesBranch (CCAB) alongBukit Timah.

DragonBoat Racing

If there’s one sportthat encapsulatesperseverance andthe sheer power ofteamwork, it’s gotto be dragon boatracing. To see thesport in its full glory,check out the trainingand races organisedby Singapore DragonBoat Association(sdba.org.sg). Feelfree to approach anyof the membersafterwards aboutits recreational andcompetitive activities.

Football

Whether you want toplay it, watch it or beton it, there’ll besomewhere on theisland to ease your footycraving. Singapore’sprofessional league,S.League (sleague.com),organises frequentmatches, a great way tosuss out the scene here.For amateurs, get yourinformation fromMinistry of Football(ministryoffootball.com.sg),a comprehensive onlineforum listing friendlies,major amateur leaguesand teams lookingfor players.

Rugby

Despite its lack ofrecognition in theinternational scene,Singapore has asurprisingly vibrantand active local rugbycommunity. You’ll beable to find a mix ofmen’s and women’steams, along with clubsthat play rugby unionand seven-a-sidematches. If you fancya bit of training, get intouch with theWanderersRFC(singaporewanderers.com).If you’re looking formore action, hit up theSingapore Rugby Union(singaporerugby.com)for more details.


Becoming an expat involves a lot of organisationand there are various things you may not haveconsidered, including managing your finances.Do you have funds in your bank account backhome that you want to transfer to your localaccount in Singapore? Or perhaps you havemortgage payments to make on a property overseas?

Whatever your reason for sending moneyinternationally is, there are a few things toconsider before you do:

• Transferring with your bank could mean you losea chunk of your funds in bad exchange rates andhidden fees.

• Don’t underestimate the powerof personalised service.

• You’ll find better value with an independent money transfer company, like WorldFirst,rather than with the banks.

In fact, WorldFirst offer exchange rates thatare up to three times cheaper than the localand international banks, and when you’resending a big sum of money internationally,it can make a huge difference.

Visit worldfirst.com for more information,or speak to one of our friendly currencyspecialists on +65 6805 4380.

Don’t forget to refer Expat101 toget S$25 off your next transfer!

Aside from the mountain of administrative tasksthat come with moving abroad, you’ve probably been

buzzing from the novelty of starting a new life chapter.But what happens when the thrill wears off and reality sets in?

Sending moneyto an overseasbank account


Founded in 1993, the Singapore Repertory Theatre (SRT) is one of the leading English-language theatre producers and presenters in Singapore and Asia. SRT offers a relaxing evening out at the theatre where you can sit back and enjoy quality theatre performances. We offer a wide range of plays and musicals, from original musicals like Forbidden City: Portrait of an Empress, to critically acclaimed plays thatinclude The Pillowman, Hand to God and Disgraced. SRT’s Shakespeare in the Park series at the picturesque Fort Canning Park has enthralled

over 250,000 patrons with stunning sets and contemporary interpretations of the Bard’sbest-loved plays. The Little Company, a divisionof SRT, produces plays and musicals written, designed and performed specifically for childrenby professional actors. We have staged original musicals such as Chicken Little and Red Riding Hood that have played to full houses.

To find out what’s on at SRT, check outwww.srt.com.sg today!

Get your dose of culture


1. Certificate of Entitlement (COE)

Anyone who registers a new vehicle in Singapore must first obtain a Certificate of Entitlement(COE) in the selected vehicle category. The COE represents the right to vehicle ownership and theuse of limited road space for 10 years. Heads up,the COE prices fluctuate quite a bit but is now ata low – cars up to 1,600cc and 130bhp closed at$30,284 (from $32,339) and the COE for carsabove 1,600cc or 130bhp is $32,279 (downfrom $33,377).

2. Loans and installments

Chances are, you won’t have the full amount incold hard cash to pay the car dealership but thatis why we have loans and payments in installments. For cars with an Open Market (OMV) of less than $20,000, the maximum loan tenure is seven years and capped at 70% of the car price but if your OMV is higher than $20,000, the maximum car loan is capped at 60% of the car price.

3. Road tax

On top of COE, there is also the mandatoryroad tax all vehicle owners must have beforetheir vehicles can be used on the road. Mostroad taxes are renewable either yearly or on

Buying a car in Singapore? Here’s what you needto know

Owning a ride is a huge responsibility herein SG, but we did the homework for you...

It’s true that cars in Singapore can cost up to six times more than they do in othercountries, but if you still prefer your very own ride, here’s the low-down on the details

a six-monthly basis. But do note: car ownersmust tick off prerequisites like getting amotor insurance coverage and passingthe vehicle inspection.

4. Car insurance

You can always take the cheaper optionby taking a basic auto insurance, but whyscrimp on something you’ve already splurgedon? A comprehensive car insurance on theother hand includes coverage on fire, theft, death or injury to other parties, damagesand medical costs and more, dependingon the provider.

5. Parking fees, petrol and miscellaneous costs

Because there is a space constraint, parking fees in Singapore can be steep. Most drivers will obtain season parking at car parks near their homes, or pay for season parking at their offices. Then you have to factor in parking at malls and on weekends, and buying parking coupons – it’s going to set you back at least $150 per month or more on parking. On top of that you have to set aside money on petrol every month and the essential car servicing.

Check out COE bidding updates ataas.com.sg/resources/coe


Here are some of the top reasonswhy The Entertainer Singaporeis a must-have app:

Dining out is one of Singapore’sobsessions, but that just meansyou’ll get to save even moremoney with The EntertainerSingapore which enablessubscribers to enjoy one-for-onedeals on mains ata whole bunchof restaurants.

It’s super easy to share your appwith your family and friends. Allthey need to do is download theapp on their phone, then sign inwith your account login detailsto have access to all your offers.Beyond dining, you will also getaccess to discounts at attractions,fitness outlets, beauty salonsand more.

popular dining spots within the Intercontinental Bali Resort,Sofitel Bali Nusa Dua Resortand many more.

Participating merchants inSingapore include: BedrockBar & Grill, Fat Cow, Bounce,Harry’s, WaveHouse, PizzaExpress, Famous Amos, Dean& Delucca, Burger Joint NewYork, Jurlique Spa, Jamie’s Italian, Singapore Cable Car, SingaporeWake Park and Nail Culture – and the list goes on.

Offers are Buy One Get OneFree, valid seven days a week(excluding public holidays) andall year long from Januaryto December!

You will get access to additionalmonthly offers and new merchantoffers added throughout the yearin all categories. If you think afriend would like an offer, youcan use the Ping feature, whichallows you to send 10 offers toyour family and friendsthroughout the year.

With the purchase of any productfrom The Entertainer Singapore,members will also enjoy exclusiveaccess to The EntertainerGetaways, a brand new appbooking engine which hasexclusive rates at over 550,000hotels worldwide. You can alsoshare the app with up to fourfriends and family. Love Bali?Then you wouldn’t want to missout on The Entertainer Bali 2018,which features offers to use whentravelling to Bali. Members canenjoy the best restaurants, spas,beach clubs, bars and cafesacross the island including KiloBali, Mandara Spa, Sangsaka, Cocoon, Chachara Bali, plus

How to get access to hundredsof offers

The EntertainerSingapore 2018 isan app giving you

access to over 1,700offers in restaurants,

bars, attractions,hotels, spas, gyms,

fitness studios,and retail outlets

in Singapore!


Meetingnew people:An expat 101

With so much happening in this busy city, there’s really noexcuse for lonesome living, especially for new Singapore expats!

From hot-desking to volunteering, there are social options for everyone

Join an expatclub or association

One great way to assimilateyourselves to a new environmentis to join an expat community,where you’ll meet both fellownewbies and long time residents.Some international clubs toconsider include: The AmericanClub (amclub.org.sg), whichboasts a diverse mix of members,The Hollandse Club(hollandseclub.org.sg), a sportsand family club, and The TanglinClub (tanglinclub.org.sg).Established in 1869, it’s one ofthe oldest and fanciest socialclubs in Singapore.

Sign up witha sports team

There’s no need to be super-fit tojoin an amateur sports team here.Fitness enthusiasts can sign upwith a running team or club( justrunlah.com), a cyclinggroup, boot camps or dragonboatracing teams (see pg 8) –there are loads of these groupson Facebook to check out.

Channel your innerculture vulture

If you are more at home behinda book than with a tall glass, whynot dip your toes into the artsand try your hand at museumguiding? You can learn to be adocent via Friends of MuseumSingapore (fom.sg), a non-profitorganisation that offers guidingservices to history, culture andart museums here.

Volunteer fora cause

Do a good deed and makefriends at the same time –we say that’s a win-win!Spread a little critter lovewith an animal charity,volunteer at a soup kitchen orlend your voice to a woman’srights in Singapore. All youhave to do is suss out volunteersessions on the SG Cares app(www.sgsingaporecares).

Hot-desk at aco-working space

There are plenty of co-workingspaces in Singapore, and mostof them host networking sessionsand workshops regularly. If you’relooking for a centrally-locatedoption, The Great Room(thegreatroom.co), WeWork(wework.com), The WorkingCapitol (theworkingcapitol.com)and The Hive (thehive.sg) topour lists.


Are you missing home or interested in learningmore about the US? Would you like your familyto experience American holidays and traditionswhile in Singapore? The American Associationof Singapore (AAS) is a great way to stay connectedwith the American community while plugging intolife on the Little Red Dot. AAS welcomes peoplefrom every nation. Join us to celebrate US culture,meet all sorts of folks, give back to our hostcommunity and have fun along the way.

AAS is the leading non-profit organisation thatenhances, promotes and celebrates Americanculture in Singapore. Through social events, charityoutreach, community gatherings, career supportand networking opportunities, we help expatsachieve a sense of belonging and connectionthroughout all of the stages of life in Singapore.From an early look see visit to initial touch-down,and then right on through until it is time to saygoodbye... we’ve got you covered.

AAS has been here for 100 years, pleasejoin us and be a part of the next 100!

Connect with the American community in Singapore!

Be part ofthe American

community


1880 is a members’ club born out of an idea thatconversations can and will make our world a betterplace. We believe that where diverse minds gather,great ideas bloom. Our club is an expression ofthis – a salon for creators and explorers to meet,connect and relax in good company and exceptional comfort. Our founding members have made 1880a platform for creating shared narratives among a diverse community of global citizens, sparking new connections, conversations, ideas and venturesdriving economic and social impact in anincreasingly fractured world. We havecomplemented our space and design with

Why youshould join amembers’ club

phenomenal food, drink and service by pullingtogether an unparalleled pool of talent, all expertsin their crafts, to create curated experiences forour members.

For more information about membership,say [email protected]


The British Chamber of Commerce is amember network of over 3,800 professionalsin Singapore; hosting events, activities andcontent relevant to various industries. Weprovide our members with connections andsupport, and organise events throughoutthe year, offering frequent and diverseopportunities for networking andknowledge exchange.

The chamber will be also joined by the Consular Section of the British High Commission. They are available to answer any questions thatBritish nationals may have and to offer guidance and support to any British nationals livingin Singapore.

For more information and to get involved,visit www.britcham.org.sgor contact [email protected]

All aboutThe BritishChamber ofCommerce


To arrange for a meeting or formore information, please contact: Presto Expat MotoringServices Pte LtdSales Hotline: 6732 7377Email: [email protected]

Presto Expat Motoring providesmotor vehicle solutions to expatsand helps them find the rightpre-owned vehicle. We willexplain the pros and consof buying versus leasing sothat you wi l l have a c learunderstanding of your optionsprior to making a decision. Inaddit ion, we wil l recommendoptions and assist in the entireprocess based onyour requirements.

Presto Expat Motoring’s services are buying, selling,renting and leasing as well asassistance with loan financing,insurance quotations andscrap/de-registration.

Presto Expat Motoring’s24-hour Car Concierge/

Vehicle Management ensuresthere is always someone onhand to assist and includes:

• Vehicle Collection & ReturnService (Service, Repairs,

Inspection & Grooming)

• Roadside Assistance duringBreakdowns/Accidents

• Renewal Reminders of RoadTax and Insurance.

We aim to provide a one-stopshop for all your motoring needsand to deliver on our tag line“You Drive. We Delight”.

Motor vehicle solutions made easy


We have helped entrepreneurs,SMEs and multinationals fromacross the globe to start, runand grow their businessin Singapore.

Not only can we assist in settingup your business, we can helpsimplify the process by takingcare of your visa requirements.From work visas to permanentresidence and citizenship, we arefully licensed by the Ministry ofManpower (MOM) in Singaporeand can provide tailored advicebased on our years of expertise.

Our Complete Suiteof Services includes;

• Company setup

• Ongoing companyadministration

• Corporate secretarialservices

• Accounting andpayroll services

• Tax compliance

• Singapore escrowservices

• Process agent services

• Corporate trusts

• Succession planning

• Wills

We are the brand behind GuideMeSingapore.comwhere you’ll find more than2000 resources, countryguides and industry insightson doing business andliving here.

To find out how we can help,get in touch with us today formore information.Visit www.hawksford.com orcontact [email protected]

Come and talk to us at Expat 101 about everything from permanent residence in Singapore to why you need a will.

Setting upa business

in Singapore


As Singapore’s largest expatfinancial planning company,we help expats from all over theworld maximise their time herefinancially. Here are some of ourtop financial tips for newcomers:

Opening a bankaccount in Singapore

It would be ideal to have one account with an internationalbank and one with a Singapore bank. Local banks are convenient for GIRO payments and cashaccess as they have more ATM’s island-wide.

Having sufficient funds for deposits

As you may probably alreadyknow, these are needed for car rentals, children’s school fees, utility bills and housing.

Remember to inform yourcurrent life insurer that you

have moved. Your policymaybe rendered void by

the move, so do consider anew insurer if that happens.

Establishing anemergency fund

Moving to a whole new countryis a huge deal, so you’ll need abalance to cover up to six monthsof expenses (perhaps in anaccount separate to that whichcovers monthly outgoings).

Ensuring that you are sufficiently insured

If you travel frequently, you may want to consider a global policy.In addition, do check on theextent of the coverage if youremployer provides healthinsurance. Medical cost in Singapore are high and a fewdays of hospitalisation may resultin a bill that exceeds the payouts.

Having a Plan B incase of emergencies

When it comes to business, legal,and financial decisions, always besure that you have a safety net –one way to prep for anyunexpected emergencies is toensure that your will and powerof attorney are valid in Singapore.

If you would like to arrange acomplimentary consultation todiscuss your financial planningneeds, please email:[email protected]

Managing your finances


Overseas currency transfers up to 3x cheaper than the banks*

- Great exchange rates- Dedicated local relationship manager- Transfer online 24/7

Visit worldfirst.com/en-sg for more details

*Up to 3x cheaper’ based on public rates promoted on websites of DBS, UOB, OCBC, Citibank & Maybank.Compared between July & August 2018 on transfer volumes of under $50K & over $50k on USD/SGD,GBP/SGD & AUD/SGD.

expat survival guide: singapore - world first...online grocery stores let your fingers do the...

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