Yes, foreigners earning income in Singapore are subject to income tax, with rates determined by their tax residency status (determined by the number of days spent in the country). Non-residents are taxed at flat rates (15-24%), while residents pay progressive rates ( 0 % − 24 % 0 % − 2 4 % ).
The answer is: yes. That's because the United States applies citizenship-based taxation, meaning that US expats have to file their taxes yearly to the IRS, regardless of where they live. For many years, countless US expats weren't aware of their tax obligations.
Tax treatment of non-residents. As a non-resident: You will be taxed on all income earned in Singapore; You may claim deductions on expenses and donations to save tax.
Singapore is often seen as a tax-friendly jurisdiction, but it is not a place for illegal tax evasion. While it offers tax efficiency, the country enforces strict compliance with global standards like the OECD's Exchange of Information (EOI) and the Foreign Account Tax Compliance Act (FATCA).
Non-resident individuals employed for not more than 60 days in a calendar year in Singapore are exempt from tax on their employment income derived from Singapore. This exemption does not apply to a director of a company, a public entertainer or a professional in Singapore.
Singapore's personal income tax rates for tax resident individuals are progressive, meaning individuals with higher income are taxed at a higher rate. The current highest personal income tax rate is at 24%.
All retirement benefits including gratuities and pensions are taxable unless they are specifically exempted under the Income Tax Act.
In addition to the standard Buyer's Stamp Duty (BSD), foreigners must pay an Additional Buyer's Stamp Duty (ABSD) of 60% on property purchases, making ownership significantly more expensive compared to Singaporeans and Permanent Residents.
Retiring in Singapore as a foreigner is a bit more complicated than it is in other Southeast Asian countries, but it's still possible if you pursue one of the following routes: Apply for a visa that allows long-term residence, such as an employment pass, EntrePass, or the Global Investor Programme.
Yes, U.S. citizens living abroad generally must file U.S. taxes on their worldwide income, creating a risk of double taxation, but mechanisms like the Foreign Earned Income Exclusion (FEIE) and the Foreign Tax Credit (FTC) help avoid paying taxes twice on the same earnings by allowing exclusion or credit for taxes paid to foreign countries. These tools, claimed by filing a U.S. return (Form 1040), significantly reduce or eliminate U.S. tax liability for many expats.
Yes, Americans can move to Singapore, but they need a valid work pass (like an Employment Pass for professionals or S Pass for skilled workers) sponsored by a Singaporean employer to live and work long-term, as visa-free entry is only for short visits. The process involves securing a job first, meeting salary and qualification criteria (like the COMPASS framework for EPs), and then applying for the appropriate permit through the Ministry of Manpower (MOM).
(3) 183 days or more in a calendar year
If you stay or work in Singapore for 183 days or more in a calendar year, your income will be taxed at resident rates for individuals.
Permanent Residents (PRs): 5% on first property, 30% on second property, and 35% on third and subsequent properties. Foreigners: 60% on any property purchase.
If you're not UK resident, you will not have to pay UK tax on your foreign income. If you are UK resident, you'll normally pay tax on your foreign income.
The country that has the highest taxes is the Ivory Coast (60%), according to statistics platform Data Panda's 2025 survey. Other countries with high taxes are Finland (56%), Japan (55%), Austria (55%), Denmark (55%), Sweden (52%), Aruba (52%), Belgium (50%), Israel (50%), and Slovenia (50%).
Costly rent prices
As well as rent, the cost of living in Singapore is very high. Recent data from 2024 ranks the city-state as the second most expensive place to live in the world. ⁶ Owning a car in the city is extremely costly, with most expats taking advantage of the efficient public transport system to get around.
General Benchmarks. One survey estimated that ~S$1 million in savings is needed to retire “comfortably” in Singapore. In terms of monthly spending, retirees today spend anywhere from S$1,200 (basic) to S$3,500 (comfortable) per month. As of 2023, an average retiree spends approximately S$2,000 per month.
According to Salary.sg, an income comparison website using data from the IRAS Annual Report FY2021/2022, you needed to earn S$191,000 annually to be in Singapore's top 10% of earners. To be in the top 1% of earners in Singapore, you would need to earn S$696,000 annually.
Singapore is often debated as a tax haven due to its low corporate tax rates, extensive double tax treaty network, and business-friendly policies. However, it is not a traditional tax haven like the Cayman Islands or Bermuda.
Singapore's income tax system is progressive, which means that the more you earn, the more you will be taxed. The idea is to find many different things you can either write off or claim tax relief for.