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Finance in Singapore

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Finance in Singapore

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Banking Singapore has a number of local and international banks that offer commercial banking services.

All banks handle travellers cheques and change foreign currencies. ATMís can be found in most shopping malls. British nationals who have been granted employment passes can make an application to open a bank account. For information on how to open an account and what documents are required please refer to individual banksí websites.

Compulsory Social Security Savings Plans

British nationals who are working and have permanent residence (PR) status in Singapore are required to contribute to the Central Provident Fund (CPF).

Singapore Taxation

British nationals are liable to pay taxes in Singapore on all income accrued in, or derived from Singapore. The extent of your tax liability will depend on your tax residency status. For more information please go to the Inland Revenue Authority of Singapore (IRAS) website.

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