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I moved to Singapore a decade ago, and I can definitely recommend it. If you'd like to try this, all the relevant visa information is available from the Singap

by lokedhs 10y ago

I moved to Singapore a decade ago, and I can definitely recommend it. If you'd like to try this, all the relevant visa information is available from the Singapore Ministry of Manpower: http://www.mom.gov.sg/passes-and-permits http://www.mom.gov.sg/passes-and-permits I think the OP could possibly be able to get the EntrePass, if he sets up a local company in Singapore and makes sure his work is billed to it. Singapore corporate taxes are probably lower than where he's from, so it would likely be better to do that anyway.

CyberDildonics 10y ago
He is talking about moving but still working in the US, Singapore's taxes have nothing to do with it.
- deleted 10y ago
  [deleted]
- lokedhs 10y ago
  It does. If you live and work in a country (even if it's for a foreign company) you can be sure that country wants you to pay taxes. That said, Singapore taxes are very low, so it's likely a much better deal than paying the taxes in your home country (unless you're a US citizen, in which case everything becomes a lot more complicated, to the point where many banks in most countries won't even give you an account).
crdb 10y ago
EntrePass has been catch 22'ed a few years ago. In order to even apply, you need to have investment from a limited list of approved investors. On top of that, you need to hire a certain number of people within a certain amount of time, and there are a bunch of other rules to be able to keep it. The "standard" way would be to incorporate, capitalise the entity with around 40,000 USD, prove that the business will be a business (and not you buying a visa) with letters of intent from prospective customers and a detailed business plan, try and set things up so that you're not the shareholder AND the director AND the visa holder, and then apply for an Employment Pass (EP) under your own business. That EP will be yours if you have received a high enough salary for the past X months (they ask for your salary history for years), if you have set yourself a high enough salary that you'll need to pay out every month, and - in many cases these days - the Ministry of Manpower (MOM) will probably still ask you for "manpower projections" which I think is a euphemism for "prove to us you'll hire a few locals". Oh yeah, and budget another 3,000 USD or so for the advice from Corporate Service Providers (CSPs) after your initial round of DIY applications get rejected for no reason given. The whole process should take you 6-12 weeks. Whilst a Singaporean applies for a company online for a few dollars and gets it done in a week. Once you've jumped through those hoops, yes, things are pretty good. Low taxes, extremely efficient government that treats you like a customer, rule of law, low cost of living (compared to Western large cities, not Bangkok or Beijing), great weather, international community, easy travel to dream locations, and so on. I wouldn't want to be anywhere else. But it's not a pain-free process the way say, Hong Kong was before 2014.
eru 10y ago
> Singapore corporate taxes are probably lower than where he's from, so it would likely be better to do that anyway. Wouldn't Americans still pay Uncle Sam?
- lokedhs 10y ago
  Yes, but based on discussions I have had with Americans here there is apparently a deductible so that at least not all of your income is taxed.

by lokedhs 10y ago

CyberDildonics 10y ago

He is talking about moving but still working in the US, Singapore's taxes have nothing to do with it.

deleted 10y ago
[deleted]
lokedhs 10y ago
It does. If you live and work in a country (even if it's for a foreign company) you can be sure that country wants you to pay taxes. That said, Singapore taxes are very low, so it's likely a much better deal than paying the taxes in your home country (unless you're a US citizen, in which case everything becomes a lot more complicated, to the point where many banks in most countries won't even give you an account).

crdb 10y ago

EntrePass has been catch 22'ed a few years ago. In order to even apply, you need to have investment from a limited list of approved investors. On top of that, you need to hire a certain number of people within a certain amount of time, and there are a bunch of other rules to be able to keep it. The "standard" way would be to incorporate, capitalise the entity with around 40,000 USD, prove that the business will be a business (and not you buying a visa) with letters of intent from prospective customers and a detailed business plan, try and set things up so that you're not the shareholder AND the director AND the visa holder, and then apply for an Employment Pass (EP) under your own business. That EP will be yours if you have received a high enough salary for the past X months (they ask for your salary history for years), if you have set yourself a high enough salary that you'll need to pay out every month, and - in many cases these days - the Ministry of Manpower (MOM) will probably still ask you for "manpower projections" which I think is a euphemism for "prove to us you'll hire a few locals". Oh yeah, and budget another 3,000 USD or so for the advice from Corporate Service Providers (CSPs) after your initial round of DIY applications get rejected for no reason given. The whole process should take you 6-12 weeks. Whilst a Singaporean applies for a company online for a few dollars and gets it done in a week. Once you've jumped through those hoops, yes, things are pretty good. Low taxes, extremely efficient government that treats you like a customer, rule of law, low cost of living (compared to Western large cities, not Bangkok or Beijing), great weather, international community, easy travel to dream locations, and so on. I wouldn't want to be anywhere else. But it's not a pain-free process the way say, Hong Kong was before 2014.

eru 10y ago

> Singapore corporate taxes are probably lower than where he's from, so it would likely be better to do that anyway. Wouldn't Americans still pay Uncle Sam?

lokedhs 10y ago
Yes, but based on discussions I have had with Americans here there is apparently a deductible so that at least not all of your income is taxed.