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Re: Singapore PR vs Canada PR, which one is better for the long term?

When I first moved to Singapore in 1996, my Chinese Singaporean landlord who rented me a room in his HDB said it best — Singapore is only good if you are rich.

Taxes seem low, but you have to consider indirect taxes when purchasing a car or a home. Again, if you are wealthy enough, these indirect taxes might not be significant compared to the tax savings.

For example, if you had a 7-figure annual salary or an 8-figure net worth, that would probably make Singapore a no-brainer… but a 6-figure annual salary and a 7-figure net worth… that would need careful evaluation, and would be heavily lifestyle dependent.

I would also point out that countries like Canada have retirement accounts where you can shelter your investments from tax and get a tax deduction, so your actual tax burden might be significantly less, depending how much you make.

Posted in PR, Citizenship, Passes & Visas for Foreigners

Re: Assessing my citizenship application chancess

❰❰ Quote:
Hello all,

I just received IPA for SC. Wanted to seek your kind guidance on time required till I receive my passport. As I have a business trip and 2 holidays coming up in July, October and Feb, would like to plan accordingly.

Do you think it can meet my travel dates for mid october?

thanks in advance.
❱❱

Congrats on your IPA.

However you still have to complete the 3-step Citizenship Journey before you can go through the renunciation process (I don't know how long that takes with China) and get the appointment to take your oath of allegiance.

You have to take the oath before you can apply for your pink IC and red passport. (The IC and passport will be sent to a post office for you to pick up within a week of application.)

This entire process will take between 3 and 4 months. So I think October may be out for you - or at the least a very tight timeline.

Posted in PR, Citizenship, Passes & Visas for Foreigners

Re: Gahmen fcked the market with their BS ABSD

From what I've seen, stuff located by a highly sought after school is still moving fairly quick, as long as it's not too old (< 20 years). Older stuff takes longer, but it eventually moves. That being said, things may get worse as the years go by because the condo supply keeps increasing.

IMO, people have put too much weight on tenure. First, you end up locking up more capital in one asset (need to weigh the opportunity cost of investing the difference). Second, while better than old leasehold, liquidity still declines, as many buyers just aren't interested in old units (repair issues, style, etc). Still, I don't doubt that it's even worse now with investor/landlord demand out of the picture.

Many people are probably better off with one unit and a portfolio of shares/bonds instead of multiple properties, although that's not a good justification for the policy itself.

Posted in Property Talk, Housing & Rental

Re: Gahmen fcked the market with their BS ABSD

❰❰ Quote:
I find it interesting that some locals don't realise how much of the private market was/is held by foreigners. Generally the reaction is "so?" - and then I explain how their condo may actually end up falling in value (or plateauing as they seem to be) without the approx 15% foreign buyer uptake (now down to 1 or 2%). Add on that Singaporeans (and PR) can no longer effectively build a private property portfolio as they fathers did (some of the old fellows here own 10 or 20) and the ABSD seems generationally unfair to me.
❱❱

Totally agree... ABSD is killing the market especially ccr and areas popular with foreigners. Its quite unfair. And furthermore locals have no opportunity to invest in more properties here given the high ABSD.

Posted in Property Talk, Housing & Rental

Re: Assessing my citizenship application chancess

Hello all,

I just received IPA for SC. Wanted to seek your kind guidance on time required till I receive my passport. As I have a business trip and 2 holidays coming up in July, October and Feb, would like to plan accordingly.

Do you think it can meet my travel dates for mid october?

thanks in advance.

Posted in PR, Citizenship, Passes & Visas for Foreigners