Singapore is one of the most attractive destinations in Asia for U.S. retirees. It offers world-class amenities, modern conveniences and cultural vibrancy. Singapore is globally renowned for its efficient infrastructure, well-regulated financial environment, and excellent health care, education and career opportunities.
Singapore attracts people from all walks of life with its potential to deliver an exceptional quality of life. About two million expats worldwide have made their way to Singapore, forming part of the island nation’s diverse identity. Singapore offers a cosmopolitan atmosphere, where many cultures, cuisines, languages and lifestyles coexist harmoniously. English is the common language, providing a seamless transition for retirees seeking comfort and security. A high cost of living matches Singapore’s high quality of life; however, costs of living are flexible, tax rates are reasonable and health care is affordable.
From navigating visa options to understanding the cost of living in this dynamic city, here’s what U.S. expats need to know about retiring in Singapore.
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Singapore Is Extraordinarily Diverse
Despite its small size, Singapore is a mosaic of linguistic, religious and ethnic diversity. Cultural diversity and harmony are key aspects of Singapore’s identity and are seen as crucial to the nation’s success. Modern Singaporean society combines Western, Chinese, Malay and Tamil cultures. Everywhere you go in Singapore, you’ll find evidence of its great diversity — from the varied languages spoken in everyday life to the locals’ style of dress.
One of the most enjoyable aspects of Singapore’s diversity is its gastronomic scene. It’s a foodie’s paradise, and on any given night, you can indulge in dishes from Malay, Indonesian, Filipino, Thai, Japanese, English, Portuguese or Korean culinary traditions — often in a single location. Hawker centers, open-air markets where food vendors of various origins gather to sell their goods, are the heart of Singapore’s culinary scene.
Contributing to Singapore’s diversity is a massive community of expats worldwide. The high quality of life, including excellent health care, education, infrastructure and a strong economy, attracts expats here. As a new arrival, you’ll have no trouble socializing because the community is not only big, it’s well-organized with all kinds of activities that foster connection.
From fellow expats to locals, most Singaporeans speak English. English is the common language and holds official language status alongside Malay, Mandarin and Tamil.
Singapore Has a High Cost Of Living
Singapore’s high quality of life comes at an equally high cost. This is one of the world’s most expensive cities for expats. The average person’s monthly budget can range from $2,500 to $4,500 or more, depending on their lifestyle. Luxury and high-end living options are available for those who can afford them, but Singapore is more than just a playground for the wealthy. Average retirees can carve out a comfortable lifestyle by tuning their choices to their budgets.
Housing is the biggest expense for a Singaporean. The most affordable accommodation options are often government-subsidized apartments available through Singapore’s Housing and Development Board, as well as housing outside the city center. Condominiums in buildings with amenities like shared pools and gyms are more expensive, while the most expensive housing option is a landed property, like a house or bungalow.
Food can be an inexpensive indulgence in Singapore. High-quality, even Michelin-starred cuisine is available from hawker centers for as little as $5 to $10 per plate. Restaurant prices tend to be higher; again, luxury and ultra-high-end dining experiences are available for those who can afford them.
Getting around Singapore is affordable using public transportation. The average fare for a single Mass Rapid Transit journey is about $1.50. Taxi rides can add up, although ride-sharing apps tend to be slightly more affordable. In terms of entertainment, there are plenty of free and low-cost activities available, including parks and gardens, museums and community events. Many Singapore residents travel abroad to lower-cost nations like Vietnam, Thailand and Indonesia for inexpensive vacations.
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Health Care In Singapore Is Excellent
Singapore has the best health care system in the world, according to the 2025 Legatum Prosperity Index. It’s known for its efficiency, affordability and high-quality services. Singapore offers universal health coverage through a mixed financing system. MediShield Life is the universal basic health insurance that all Singapore citizens and permanent residents must have. It covers big hospital bills and specific outpatient treatments. MediSave, also mandatory for citizens and permanent residents, is a medical savings scheme that helps cover out-of-pocket payments.
Singapore’s private health care system is also well-developed, and many expats rely on private and employer-provided insurance to access care. Across the country, the medical infrastructure is world-class. Hospitals and clinics use state-of-the-art technology and have highly skilled staff who speak English.
Singapore Has Strict Laws
Singapore is highly safe. Living here enables you to put concerns about theft, crime and random violence out of your mind. Part of the reason Singapore is so safe is that it enforces strict laws and regulations about crime and behavior. Singapore is famous for banning the import and sale of chewing gum. It also controls things like jaywalking and littering, smoking in public and seatbelt use in cars. It takes a very serious approach to crimes like drug use and trafficking, with punishments as severe as the death penalty. Anyone moving to Singapore should familiarize themselves with Singapore’s laws.
Car Ownership Is Unnecessary for Most Residents
The average American is used to a car-based lifestyle. When you move to Singapore, you’ll most likely shift to a car-free lifestyle, which has many benefits. The public transportation system in Singapore is excellent. It includes buses, Mass Rapid Transit, Light Rail Transit, taxis and ride-hailing apps. You can travel across the island and get anywhere using public transportation. There are also well-maintained walking and cycling paths that connect various areas.
Having your own car is not only completely unnecessary in Singapore; it’s extremely expensive and considered a luxury. Car ownership is highly regulated to control the number of vehicles on the road and avoid congestion on this tiny island. Prospective car owners need to buy a certificate of entitlement to register, own and use a car on Singapore’s roads for 10 years, which costs upwards of $70,000. They also face high taxes and import duties.
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You’ll Need to Pay Taxes, but Rates Are Reasonable
As a resident of Singapore, you’ll need to pay taxes on any income that accrues in or is derived from Singapore. If your income is derived from sources outside of Singapore, it’s only taxable if it’s received in Singapore through a partnership. Income tax rates are reasonable compared to Europe and North America, levied at graduated rates that range from 0% to 24%.
Residency Can Be Difficult to Obtain
Singapore is a beacon of modernity and economic success, so it attracts a lot of people. Because of this and its high population relative to its small land area, immigration is tightly controlled. You’ll need a strong professional background and financial standing to gain residency in Singapore, assuming you don’t have a family connection to the country and you’re not moving to study there. A job offer from a Singaporean company can make you eligible for permanent residency through an employment pass or S pass. The global investor program may be your best residency option if you’re not seeking employment. This is a residence-by-investment program for high-net-worth individuals, and the minimum investment amount is about $1.8 million.
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How to Retire in Singapore originally appeared on usnews.com
