'No capital gains, best food': Entrepreneur explains why Singapore feels like paradise with tax savings, lifestyle perks

For Meng To, a tech entrepreneur who moved from Canada to Singapore two years ago, the city-state isn’t just a new address, it’s “a paradise.”

Having recently renewed his Singapore visa for three more years, To shared a glowing account of life in the Lion City, painting a portrait of a place where tropical weather, efficient services, and significant tax savings converge to create what he describes as an enviable lifestyle.

“I just renewed my Singapore visa for 3 years. It’s a paradise here,” To wrote on X, summing up his contentment in a single sentence.

One of the biggest draws for To is Singapore’s attractive tax regime. “5-15% income tax for high income (100k to 500k). No capital gain tax, 9% sales tax, no-tipping culture,” he noted, comparing it favorably with his tax-heavy life in Canada. “2 years ago, I sold everything and moved to Singapore from Canada. I was paying over 150k in taxes every year (50%+). I had a huge house, a swimming pool, a small boat but could only enjoy most of them in the summer.”

Even though rent in Singapore can rival prices in San Francisco, To argues that tax savings easily offset the costs. “So Singapore has extremely expensive rent, comparable to SF. BUT the money we’re saving in taxes more than makes up for it. The more you make, the more you save. If you invest, you pay no tax on gains.”

Beyond the financial perks, To is captivated by Singapore’s seamless digital systems. “The first year, I was shocked that I only had to pay 5k in taxes. LOL. No paperwork, bc taxes are pretty much auto-reporting. Log in, report, pay, done! ID using Singpass is crazy efficient. PayNow QR code scan & pay is frictionless.”

Quality of life, for To and his family, has soared since moving. “English speaking and top schools for our kids. Best medical system I've experienced. 26-32º all-year with warm rains. Can swim every day,” he enthused.

His praise extends to the healthcare system, contrasting it sharply with his Canadian experience. “Medical is so so good. For stuff like dental, general sickness like fever, pains, chiro, it’s basically same-day or drop-in 15-min. They typically cost 50-100 SGD a visit without insur coverage. In Quebec, we were def fighting for an appointment, calling at multiple places, getting appointments in 1-3 days and costing 150 CAD. Yes, healthcare was free, but only if you’re okay waiting 20 hours in a hospital or days before getting an appointment EVEN for private ones.”

Food has been another delight for To. “Best food on earth (except Japan). So many Japanese restaurants/groceries! Food is cheaper (hawker centers) and higher quality (a LOT from Japan & Australia) than what we had in Canada… Don Don Donki is insane… You can find Wagyu almost as easily as organic food. Japanese strawberries, Muscat from Korea, China, incredible salmons, teas. My kids are obsessed with salmon and mentai since moving to SG.”

And even the furnishings in Singapore have charmed him. “Furnitures are incredibly unique, tasteful and with high-quality materials like ceramic and wood. I was shocked at the quality for cheaper prices than Ikea!”

For To, Singapore’s magic lies in its balance of efficiency, luxury, and warmth. “Lately, we started feeling like we already retired (living next to water, with palm trees, hot weather and amazing amenities), but we’re so full of energy and I’ve never worked so hard (as you’ve seen with Aura and DreamCut).”