The Reality of Moving to Singapore -Initial Costs, Taxes, and Visa Requirements Explained by an Expert

The Growing Popularity of Singapore Among Japanese Residents

In recent years, more Japanese celebrities, entrepreneurs, and families have been relocating to Singapore. At Sollys Design, our clients include not only corporate expatriates but also business owners, investors, and families moving for educational purposes.

To offer practical insight, we interviewed Mr. Masana Takahashi, Managing Director of Singa Management Consultants Pte Ltd, who specializes in immigration and company incorporation support. We discussed topics such as relocation costs, taxes, and what makes Singapore appealing today.

1. Why Are People Moving to Singapore?

Ishii:
Mr. Takahashi, what are the recent trends you’ve observed among new residents in Singapore?

Takahashi:
Over the past few years, living costs have risen, and visa conditions for Employment Pass holders have tightened. As a result, the number of corporate expatriates—especially in manufacturing—has decreased.

However, the number of business owners moving for their children’s education remains stable and continues to grow. Before the pandemic, people often moved for tax advantages or asset management. Now, many relocate because they value Singapore’s international education system and safe living environment.

2. Who Thrives in Singapore—and Who Struggles?

Ishii:
What kind of people adapt well to life in Singapore?

Takahashi:
Those with an open mind who can embrace cultural differences tend to thrive. Families who relocate to expand their children’s future opportunities often do well.

On the other hand, those who come purely for financial benefits may struggle. When people focus only on money, they may notice inconveniences or complain that “the food isn’t as good as in Japan.”
In contrast, those who come with curiosity—ready to enjoy what Japan doesn’t have—usually find Singapore comfortable and rewarding.

3. Businesses That Do Well in Singapore

Ishii:
Which types of businesses are easiest to establish successfully?

Takahashi:
Broadly, there are two categories:

1. Businesses from Japan that make sense to expand in Singapore

2. Online or service-based businesses that are not tied to a location

Examples include consulting services, software and SaaS development, online platforms, and investment or trading firms.
These models are scalable, borderless, and align well with Singapore’s business-friendly environment.

4. How Much Does It Cost to Relocate?

Ishii:
Many readers are curious about the cost of relocating. What’s a reasonable estimate for a family during the first six months?

Takahashi:
As a general guideline, families should prepare JPY 10–15 million (SGD 90,000–130,000). This covers rent, deposits, and initial living expenses.

Ishii:
For interior design, if you’re moving into an unfurnished three-bedroom apartment, expect JPY 3–30 million (SGD 27,000–270,000) for furniture and decor.
Of course, this varies depending on lifestyle and preferences.

For more details, see our related article: “Estimated Furniture Budget in Singapore – 2025 Update.”

5. Understanding Singapore’s Tax Advantages

Ishii:
Many people have heard that Singapore’s tax system is attractive. What are the key benefits?

Takahashi:
The tax system is simple, transparent, and stable. High-income earners especially benefit.

For instance, someone earning JPY 20 million in Japan could save about JPY 5 million in Singapore. Moreover, capital gains and dividends are generally tax-free.
Although living costs are higher, the low tax burden often offsets the difference, allowing individuals to focus on business and investment with peace of mind.

6. How to Handle Overseas Remittance Smoothly

Ishii:
When clients pay for furniture or relocation expenses, international transfers often take time. What’s your advice?

Takahashi:
Start early. Recently, banks in Japan have tightened reviews on overseas transfers.

• For small transfers, platforms like Wise work well, though they have limits around JPY 1 million.

• For larger amounts, apply through major banks at least one month in advance.

• For corporate accounts in Singapore, the screening process can take 2–3 months. Always arrange an introduction before visiting a branch.

• Offshore accounts are also available for high-net-worth individuals, even without Singapore residency.

For more information, see our reference article on offshore banking.

7. What Makes Singapore Special

Ishii:
You’ve lived in Singapore for many years. What do you personally value about life here?

Takahashi:
It’s an incredibly comfortable place to live and work.
Unlike in Japan, there’s little social pressure to “already know everything.” Conversations begin from mutual respect and curiosity.
Because of that, diversity and individuality are truly accepted. It’s a place where you can live authentically and freely.

Summary

Ishii:
Thank you, Mr. Takahashi. Today’s discussion made it clear that while relocating to Singapore requires careful financial planning, the benefits—education, taxation, and business environment—are substantial.

If you’re considering relocation, company setup, visa support, or accounting assistance, we highly recommend consulting Singa Management Consultants Pte Ltd. Mr. Takahashi and his team provide thoughtful, personalized guidance for each client.

Interview Partner

Singa Management Consultants Pte Ltd

Website: https://singapore-iju.com/
Company Incorporation & Tax Support: https://www.singacompanyservices.com