Regarding Getting Paid From Another Country

[tharakaf]

Hey Guys,

Need some advice from you on the following;

I will be joining a SG company and working from home (will be in SL) for sometime before deciding whether to move to SG or continue here. In order to setup how I get my salary I need to know the following;

1. What is the type of Account I need to create myself?
2. What are/is the best bank for this and why (right now I work with HSBC, Combank, Sampath and HNB)?
3. What do I need to setup the above account?
4. How can I withdraw money and what sort of charges will apply?
5. What do I need to consider with the current exchange issue in SL?
6. Any idea about paying payee tax?
7. Any other advice ?

Thanks in advance.

 

[niranga1989]

owa danne na habai congratulaahionses

 

[Master malli]

Singa tika idala wren.

 

[tharakaf]

owa danne na habai congratulaahionses

Thank you machan

Singa tika idala wren.

Will be going for a short period of time machan, But my mind says that savings will be higher if I stay in SL for sometime. Anyways atleast till I make my mind up I need to figure out a way to get the money here without losing much.

 

[Master malli]

Thank you machan

Will be going for a short period of time machan, But my mind says that savings will be higher if I stay in SL for sometime. Anyways atleast till I make my mind up I need to figure out a way to get the money here without losing much.

SL vibe eka enna enna depressed tika dawaskta gihin waren..money save karala wadak ne bn..inna kale fun eke inna ona..api save karnwa lamai athal gannwa..

 

[NetFreak]

Congratulations

 

[saja]

moneygram ehe moko ?

 

[tharakaf]

moneygram ehe moko ?

Not sure how that works, but this is normally used to transfer money right? In my situation I need to give them a bank account for them to send my salary.

 

[saja]

fill a form -> sender provide money to transfer (no bank account) => sender whatapp or email the slip to receiver - > receiver goes to any bank supports moneygram withdram -> fill form add security number in the slip -> get cash

Not sure how that works, but this is normally used to transfer money right? In my situation I need to give them a bank account for them to send my salary.

 

[tharakaf]

fill a form -> sender provide money to transfer (no bank account) => sender whatapp or email the slip to receiver - > receiver goes to any bank supports moneygram withdram -> fill form add security number in the slip -> get cash

Not going to help me ban. It is a company that deposits to a bank account sort of the stuff we do in SL (company puts my salary to my account)

 

[apr80]

As per my experience, being a remote worker I can give you the answers as follows. But please do your own research as well.

What is the type of Account I need to create myself?
Create a PFCA account if you are getting paid in US dollars. I'm not sure it's available for SG$ though - Please check with the bank whether you can open PFCA for receiving SGDs.

What are/is the best bank for this and why (right now I work with HSBC, Combank, Sampath and HNB)?
I am getting the best rate with HNB. Not sure about other banks. Please check their buying rates for the corresponding currency that you getting paid and select the bank that provides a higher rate.

What do I need to set up the above account?
Job contract if you have or any other similar proof.

How can I withdraw money and what sort of charges will apply?
You can ask the SG employer to wire transfer money to your PFCA account. After that, you convert the money to your rupee account as needed. When you receive money from a wire transfer there will be a small amount deducted as charges. That's the only charge you have to worry about.

What do I need to consider with the current exchange issue in SL?
Better if you can find out whether you can maintain an account in SG bank and receive the salary to that account. Or else, you can ask your employer to send money through a service like Payoneer so that you have more control over your dollars.

Any idea about paying payee tax?
As I know when you receive your salary from the foreign currency you will not be needed to pay payee taxes. But I'm not an expert in giving advice about this. Please do your own research or ask from a tax adviser.

Any other advice?
Find out the digital nomad visa scheme if you wish to travel and work.

Good luck with your new role!

 

[lodbrok]

Open a Singaporean bank acc if possible and then do the money transfer by yourself. Probably you need a Singapore address to open an acc but check with them. Different countries use different regulations.

 

[dzero]

Hey Guys,

Need some advice from you on the following;

I will be joining a SG company and working from home (will be in SL) for sometime before deciding whether to move to SG or continue here. In order to setup how I get my salary I need to know the following;

1. What is the type of Account I need to create myself?
2. What are/is the best bank for this and why (right now I work with HSBC, Combank, Sampath and HNB)?
3. What do I need to setup the above account?
4. How can I withdraw money and what sort of charges will apply?
5. What do I need to consider with the current exchange issue in SL?
6. Any idea about paying payee tax?
7. Any other advice ?

Thanks in advance.

There are different type. I'm explaining about PFCA

1. Create PFCA (Personal Foreign Currency Account). First ask from SG company which currency they will use to deposit. So use that currency type with PFCA
2. In my understanding HSBC has highest exchange rate. And you can get money transfer instantly most of the time. Also DFCC too good. But bit less rate you will get. But both bank are easy to create a PFCA. With other banks, it might get difficult to open and I don't like either for other banks. (but that's just my opinion)
3. Just go to a branch. They will help. If you have contract letter just bring. It will make life easy
4. With DFCC you will get charge per month around 2 dollar something. Please ask from them. With HSBC also some charge can't remember (or might not with them). With DFCC you have to send an email with their online system after you get salary and next working day, they will transfer to your DFCC LKR account. With HSBC there is a probability get a card for that account and can get money from ATM and from online too, you can transfer money to your LKR account
5. Different rate per bank
6. As I know, you don't need to pay, since you are getting money from Foreign country up to some limit.
7.

 

[nikdw]

Open a Singaporean bank acc if possible and then do the money transfer by yourself. Probably you need a Singapore address to open an acc but check with them. Different countries use different regulations.

Singapore bank account cant opens while living in another country.

 

[NaiRobi]

Congratulations

 

[tharakaf]

As per my experience, being a remote worker I can give you the answers as follows. But please do your own research as well.

What is the type of Account I need to create myself?
Create a PFCA account if you are getting paid in US dollars. I'm not sure it's available for SG$ though - Please check with the bank whether you can open PFCA for receiving SGDs.

What are/is the best bank for this and why (right now I work with HSBC, Combank, Sampath and HNB)?
I am getting the best rate with HNB. Not sure about other banks. Please check their buying rates for the corresponding currency that you getting paid and select the bank that provides a higher rate.

What do I need to set up the above account?
Job contract if you have or any other similar proof.

How can I withdraw money and what sort of charges will apply?
You can ask the SG employer to wire transfer money to your PFCA account. After that, you convert the money to your rupee account as needed. When you receive money from a wire transfer there will be a small amount deducted as charges. That's the only charge you have to worry about.

What do I need to consider with the current exchange issue in SL?
Better if you can find out whether you can maintain an account in SG bank and receive the salary to that account. Or else, you can ask your employer to send money through a service like Payoneer so that you have more control over your dollars.

Any idea about paying payee tax?
As I know when you receive your salary from the foreign currency you will not be needed to pay payee taxes. But I'm not an expert in giving advice about this. Please do your own research or ask from a tax adviser.

Any other advice?
Find out the digital nomad visa scheme if you wish to travel and work.

Good luck with your new role!

Hey Thank you machan for the wishes and thank you for spending your time to answer. Think I learned a lot from it.

Open a Singaporean bank acc if possible and then do the money transfer by yourself. Probably you need a Singapore address to open an acc but check with them. Different countries use different regulations.

Thank you Machan, Need to check if this is possible.

There are different type. I'm explaining about PFCA

1. Create PFCA (Personal Foreign Currency Account). First ask from SG company which currency they will use to deposit. So use that currency type with PFCA
2. In my understanding HSBC has highest exchange rate. And you can get money transfer instantly most of the time. Also DFCC too good. But bit less rate you will get. But both bank are easy to create a PFCA. With other banks, it might get difficult to open and I don't like either for other banks. (but that's just my opinion)
3. Just go to a branch. They will help. If you have contract letter just bring. It will make life easy
4. With DFCC you will get charge per month around 2 dollar something. Please ask from them. With HSBC also some charge can't remember (or might not with them). With DFCC you have to send an email with their online system after you get salary and next working day, they will transfer to your DFCC LKR account. With HSBC there is a probability get a card for that account and can get money from ATM and from online too, you can transfer money to your LKR account
5. Different rate per bank
6. As I know, you don't need to pay, since you are getting money from Foreign country up to some limit.
7.

Hey thank you machan for spending time reply. Appreciate it. Think I learned something from you. I already work with HSBC might be able to check with them.

Singapore bank account cant opens while living in another country.

Anyway of figuring this out?

---

Congratulations

Thank you machan
------ Post added on Dec 25, 2021 at 8:37 AM

 

[nikdw]

Hey Thank you machan for the wishes and thank you for spending your time to answer. Think I learned a lot from it.


Thank you Machan, Need to check if this is possible.


Hey thank you machan for spending time reply. Appreciate it. Think I learned something from you. I already work with HSBC might be able to check with them.

Anyway of figuring this out?

---

Thank you machan
------ Post added on Dec 25, 2021 at 8:37 AM

just give a call ocbc or DBS bank. It will take while but you can get a direct answer. i don’t think you can fake the address in Singapore. Everything verified online. i Have no idea any other way.

 

[kj1]

Hey Guys,

Need some advice from you on the following;

I will be joining a SG company and working from home (will be in SL) for sometime before deciding whether to move to SG or continue here. In order to setup how I get my salary I need to know the following;

1. What is the type of Account I need to create myself?
2. What are/is the best bank for this and why (right now I work with HSBC, Combank, Sampath and HNB)?
3. What do I need to setup the above account?
4. How can I withdraw money and what sort of charges will apply?
5. What do I need to consider with the current exchange issue in SL?
6. Any idea about paying payee tax?
7. Any other advice ?

Thanks in advance.

Machan why don't you visit there open the bank account with your job offer letter.then manage it from sri lanka.it's pretty easy.you can withdraw money from you visa,master etc card from any atm.also if you really want good exchange rate use a service like wise.if you want even better rates visit singapore every quater get the damm dollars in cash come to sri lanka and sell them in hetti widiya.thank me later.