How to Retire in Singapore: Costs, Visas and More

Singapore is a tiny country made up of 64 islands clustered around the end of the Malay Peninsula. Retiring in Singapore is an attractive prospect for many, thanks to its vibrant culture, world-class healthcare, and high standard of living. However, understanding the intricacies of how to retire in Singapore requires careful planning and consideration of several key factors. From the costs associated with living in one of Asia’s most dynamic cities to navigating the visa requirements, potential retirees need to be well-informed to make the transition smooth and successful.

A financial advisor can help make your dream of retiring in Singapore a reality.

Retirement in Singapore: Cost of Living and Housing

According to Numbeo, a cost-of-living database, life in the United States costs around 23% less than life in Singapore. ¹ On average, a one-bedroom apartment in a city centre in the U.S. costs $1,642, about 44% lower than in Singapore. A three-bedroom is even cheaper in the U.S. These cost $2,655 on average, approximately 54% lower than Singapore’s $5,841 rentals. Rentals outside of major cities are also cheaper in the U.S. by about a third.

Retirement in Singapore: How Visas Work

Singapore does not offer a specific retirement visa, but they have several options for retirees to obtain a residence permit.

First, if you worked in Singapore before the age of 50, you might have an option to continue your visa into retirement. If you want to move to Singapore after age 50, you can use the Singapore Entrepreneur Pass or the EntrePass, which requires that you start a company with paid-up capital of at least SGD 100,000 ($77,300 as of July 2026). ²

After two years of acquiring the EntrePass and permanent residency, you can apply for citizenship. However, you’ll need to show significant “financial merit” and a relation to a Singaporean citizen for government approval. ³

All other routes to a permanent resident visa in Singapore require being married to a Singaporean citizen, having a work pass or making a major investment in a Singaporean entity.

Retirement in Singapore: Healthcare

Singapore has some of the best healthcare in Asia. According to U.S. News and World Report, Singapore’s healthcare system is rated eighth in the world. ⁴ Singapore does not provide free healthcare to expats, ⁵ so retirees must have private healthcare insurance. Premiums range from thousands to tens of thousands of dollars per year depending on age, coverage, and health conditions. ⁶

Even with insurance, people may have to pay for expenses out of pocket, including elective procedures and deductibles. Even without full coverage insurance, a trip to the doctor can cost as little as $25.

The cost of medication in Singapore can vary. Typically, general practitioners and specialists will dispense medications after you’ve seen a doctor. In general, private insurance will cover the cost of medications.

Retirement in Singapore: Taxes

All citizens and residents of Singapore who work in the country must pay into the Central Provident Fund. Foreigners who do not work in Singapore do not have to pay into the Central Provident Fund, even if they are residents. There may be a tax on pension income depending on how much you receive.

U.S. Citizens generally must file a tax return each year. To avoid paying taxes twice, especially on pension income, it is wise to work with a financial planner and a tax professional who understands the intricacies of Singapore’s tax system. Income is taxed at a maximum of 24% in Singapore, ⁷ so you may want to change your tax status to Singapore if you earn over a certain amount.

Retirement in Singapore: Safety

According to the U.S. Department of State, personal crime in Singapore is very low. ⁸ Numbeo ranked it as the 22nd safest city in the world in 2025. ⁹ However, like other major cities, expats need to watch out for pickpocketing, theft of unattended property and purse snatching.

How a Financial Advisor Can Help You Plan for Retirement in Singapore

Retiring in Singapore means making decisions that go beyond investing. A financial advisor can help you coordinate your retirement, tax and relocation plans before you move.

An advisor can help you evaluate your residency options. Because Singapore does not offer a dedicated retirement visa, many Americans must qualify through another pathway, such as the EntrePass, the Global Investor Programme or family sponsorship. Each has different eligibility requirements, investment thresholds and long-term considerations.

Cross-border tax planning is another important consideration. Singapore does not tax capital gains, but U.S. citizens generally remain subject to U.S. taxes on worldwide income. A financial advisor can help coordinate retirement withdrawals and work with your tax professional to account for the rules in both countries.

An advisor can also help you estimate how much retirement income you’ll need based on Singapore’s housing, healthcare and living costs. They can also help you manage currency exposure, review your investment strategy and determine whether changes to your retirement accounts or estate plan make sense before your move.

Bottom Line

Retiring in Singapore offers a unique blend of modern amenities and cultural richness, making it an attractive destination for many. However, understanding the financial and logistical aspects is crucial for a smooth transition. The cost of living in Singapore is notably high, with housing and healthcare being significant expenses. It’s essential to budget carefully and consider options like the Central Provident Fund (CPF) for financial security. Ultimately, retiring in Singapore requires thorough planning and a clear understanding of both the financial commitments and visa requirements.

Tips on Affording Retirement

• Consider talking with a financial advisor before moving abroad. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
• While many Americans would find it difficult to retire to Singapore on their Social Security benefits alone, it may be possible to do that if you also had a pension. Use a Social Security calculator to see what you can expect to receive from Uncle Sam in retirement.

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