8 Questions asked by Expatriates living in Singapore

8 Questions asked by Expatriates living in Singapore

4 December, 2022

Being an Expatriate living in Singapore has its pros and cons. Though most of us love the exciting expat life and pay lower income tax rates than some of our colleagues back home we are still faced with incredibly complex financial decisions that may make or break our time whilst working offshore. Below I have listed the most common questions asked by Expatriates living in Singapore:

  1. What is the most efficient savings and investment strategy? Should I be sending money home or saving and investing into an offshore tax efficient structure?
  2. Should I buy an investment property back home and if I do so what are the tax implications as a foreign investor? Is it worth it?
  3. Should I take out Life insurance via Singapore or back home ? Which product will best suit my circumstances?
  4. Should I continue to contribute to Pension and if I do so then what are the tax implications?
  5. Why are guardian agreements crucial to the safety of my children whilst residing in Singapore?
  6. Do I need two Wills? One for Singapore and the other for home?
  7. What is the most cost-effective way to exchange currencies and to send money home?
  8. Should I sell or retain my vested company shares and if I choose to retain my shares then what are the risks involved?

These are just some of the complex questions we face as Expatriates and in order to maximize our financial position whilst residing offshore it is crucial that we understand the implications of each decision.

Book a complimentary consultation with an Expatriate Specialist.

Sean Abreu, your trusted expat financial adviser at IPP, dedicated to financially helping fellow  expats living in Singapore

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