No Expatriate Retirement Visa To move to Singapore for the long term, you will need to acquire permanent residence in the country. Unfortunately, Singapore does not offer the retirement visa option. Foreigners can retire in Singapore, but they have to go a different path. If Singapore is your planned retirement destination, start early by finding work there.
After all, it's a business hub, and for anyone working in the healthcare sector, it might be a little easier to find work, as Singapore is currently focused on building its reputation in that industry. Other strong industries in the city-state include finance and international business. Singapore does not offer a specific retirement visa, but it has several options for retirees to obtain a residence permit. There are no retirement visas available to live in Singapore and it is very difficult for people to retire here.
In the past, it was possible to apply for a long-term visit pass; however, that visa is now only available to holders of work passes and S-passes. One option is for retirees to try to obtain an investment visa. However, that requires significant investment in Singapore and demonstrable business experience. Find out what the minimum retirement age is and what to do if you think you have been wrongfully terminated because of your age.
Citizens living in Singapore with Social Security retirement benefits alone, someone with a pension or other retirement fund could live comfortably in Singapore during retirement. However, like other major cities, expats should beware of pickpockets, theft of unattended property, and theft of wallets. The conventional wisdom is not to make big purchases or make drastic decisions during the first year of retirement. We provide valuable information, interaction and resources to expats around the world at no cost.
We had been saving and planning for retirement for decades, but this was a quality-of-life decision, not purely financial. If you're considering Lion City, as Singapore is sometimes called, as your retirement destination, it's wise to partner with a financial planner to help you realize your dream of retiring in Singapore. Under the Retirement and Reemployment Act (RRA), the minimum retirement age is 63. When it comes to retirement, you may now need to plan in case you survive the average life expectancy and set aside a little more for your future. JPARA Financial Advisory is a boutique licensed financial advisory firm that represents the interests of its clients through insurance, risk products, wealth management and investment advice for local and expatriate markets here in Singapore.
