Republic of Singapore
Capital: Singapore HDI: 0.901 (9th)
Language: English, Mandarin, Malay, Tamil
GDP (PPP): $445.2 billion
Currency: Singapore Dollar
Population: ~ 5.7 million
This island micro nation off the coast of Malaysia is known as an Asian Tiger economy due to its rapid economic ascendance. Located at the crossroads of global shipping and trade, the port of Singapore is the second busiest in the world; the economy is thus heavily reliant on high quality exports. Singapore is one of most developed and economically free countries on the face of the earth, with one of the highest qualities of life and high GDP per capita. Singapore was ranked first by the World Bank in ease of doing business and one of the least corrupt nations on earth. Due to the stable political environment, government fiscal responsibility, status as a global financial hub, and low taxes, Singapore is a popular destination for foreign investment.
Singapore Overview – World Bank
Singapore is a high-income economy with a gross national income of $54,040 per capita (Atlas Method), as of 2013. The country provides the world’s most business-friendly regulatory environment for local entrepreneurs and is ranked among the world’s most competitive economies
Singapore Economy – overview
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries.
Industry Trends & Business Climate
Conducive Pro-Business Environment
Taking into account other factors, including business licensing, taxes, credit legal rights and investor protection, Singapore has about the most business-friendly regulation in the world.”
Why Choose Singapore
In addition to a unique and fascinating lifestyle and culture, Singapore has a tremendous amount to offer the international business community.
Establishing a Presence
Business Types – Type of Business Entities in Singapore
Of all the choices you make deciding on incorporating an entity in Singapore, one of the most important is the type of business structure (i.e. legal entity) you choose for your business. Your decision can affect how much you pay in taxes, image and perception of your business among your clients and suppliers, the amount of paperwork your business is required to do, the personal liability you face, ability to borrow money, and the ability to expand your business
Business Types – Decide on a business structure for Singapore
In general, government approval is not required for foreigners to do business in Singapore and 100 percent foreign ownership is permitted.
Business Registration Requirements – Singapore Company Registration
This guide provides a detailed overview of company registration requirements, procedure, and timeline for registering a company in Singapore. As with most other jurisdictions, Singapore has a set of initial and ongoing regulatory compliance requirements for starting and operating a company. Therefore, both local as well as foreign entrepreneurs are advised to engage the services of a professional firm for this purpose.
Business Registration Requirements – Guide to Registering a Business in Singapore
Step by step guide to company registration in Singapore
Singapore Personal Income Tax Rate
The Personal Income Tax Rate in Singapore stands at 20 percent. In February 2015, the government announced, for those with a chargeable income above SGD320,000, the marginal tax rate for the additional income will go up by 2 percentage points to 22 percent. It will apply starting with income earned in 2016, and on taxes to be paid in 2017. Personal Income Tax Rate in Singapore averaged 20.25 percent from 2004 until 2015, reaching an all time high of 22 percent in 2004 and a record low of 20 percent in 2006. Personal Income Tax Rate in Singapore is reported by the Inland Revenue Authority of Singapore.
Singapore Personal Income Tax Guide
Personal income tax rates in Singapore are one of the lowest in the world. In order to determine the Singapore income tax liability of an individual, you need to first determine the tax residency and amount of chargeable income and then apply the progressive tax rate to it.
Singapore Goods and Services Tax
The current rate of the Goods and Service tax (GST/VAT) is 7%
Corporate – Singapore Corporate Tax Rate
The Corporate Tax Rate in Singapore stands at 17 percent. Corporate Tax Rate in Singapore averaged 20.84 percent from 1997 until 2015, reaching an all time high of 26 percent in 1998 and a record low of 17 percent in 2010. Corporate Tax Rate in Singapore is reported by the Inland Revenue Authority of Singapore.
Corporate – Paying Taxes in Singapore – Doing Business
This World Bank site provides a detailed summary of the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as administrative burden in paying taxes.
Singapore Sales Tax Rate
The Sales Tax Rate in Singapore stands at 7 percent. Sales Tax Rate in Singapore averaged 6.60 percent from 2006 until 2015, reaching an all time high of 7 percent in 2008 and a record low of 5 percent in 2007. Sales Tax Rate in Singapore is reported by the Inland Revenue Authority of Singapore.
Visa Requirements for Entry into Singapore
This site list the countries from which visitors to Singapore will require a visa
Republic of Singapore – Visa Regulations Singapore
Tourist visa requirements
Work Permits – Visa Requirements for Entry into Singapore
This site list the countries from which visitors to Singapore will require a visa
Work Permits – Work passes and permits – Ministry of Manpower
All foreigners who intend to work in Singapore must have a valid pass (commonly known as a work visa) before they start work.
Singapore: Public Transportation – TripAdvisor
Singapore has great public transportation. The MRT trains can get you close to any destination that you may want to visit.
Telecom/IT – Singapore – Major Telecom Operators
More than 600 telecommunications licences have been awarded by Singapore’s telecom regulator, the Infocomm Development Authority; around 5% of these come under the facilities-based operator category. The boom in licensing over the last decade has been the result of a hugely liberalised market and government policy that has strongly supported a progressive regulatory regime. – See more at: http://www.budde.com.au/ Research/Singapore-Major-Telecom-Operators.html#sthash.7hcoq0AT.dpuf
Getting Around Singapore
Public and private transportation information
Telecom/IT – Singapore Telecom Market
Singapore’s telecom services market is a consolidated market dominated by three integrated players. The top three operators, SingTel, StarHub and M1, offering fixed, broadband, pay-TV and mobile services account for 98.0% of total service revenue
Labor Rules and Regulations – Employment and employee benefits in Singapore
A Q&A guide to employment and employee benefits law in Singapore.
Labor Rules and Regulations – About the Employment Act – Ministry of Manpower
The Employment Act is Singapore’s main labour law. It provides for the basic terms and working conditions for all types of employees, with some exceptions.
Social Insurance – Work injury compensation – Ministry of Manpower
The Work Injury Compensation Act (WICA) lets employees make claims for work-related injuries or diseases, without having to take legal action
Social Insurance – Singapore, a land without entitlements
A brief commentary on Singapore’s lack of entitlements
Cost of Living in Singapore
Cost of living information includes price indices for rent, food, utilities, transportation restaurants, clothing and more
Cost of Living in Singapore | Expat Arrivals
The cost of living in Singapore is on the rise. The Mercer Cost of Living Survey for 2014 ranked it the fourth most expensive city in the world, just after Hong Kong but well ahead of cities like London and New York.
Climate – Singapore Weather, Climate and Geography
Located just north of the equator, Singapore has a tropical climate and stays hot and humid throughout the year. Temperatures average around 31º C (88º F) during the day with little seasonal variation
Safety – U.S. Department of State: Singapore
US Department of State – Go to Safety and Security for updates from the Singapore government
Safety – Singapore: Health & Safety – TripAdvisor
Singapore is an extremely safe and clean city. You can travel to any parts of Singapore alone anytime of the year, regardless of gender. However, do keep a lookout for foreigners in Singapore, the locals are safe.
Education – Ministry of Education, Singapore
The Ministry of Education has been moving in recent years towards an education system that is more flexible and diverse. The aim is to provide students with greater choice to meet their different interests and ways of learning.
Education – Contact Singapore
As a nation whose only resource is its people, education in Singapore is taken very seriously. It is assuring to know that the quality of schooling here is among the best in the world
Business Etiquette in Singapore
The dos and don’ts of business etiquette in Singapore
Business etiquette in Singapore: What you need to know
Top tips for business etiquette
Climate of the World: Singapore
The main variable of Singapores climate is not temperature or air pressure, but rainfall. Singapores climate can be described as tropical climate, with an annual average temperature around 28°C, with daytime Temperatures of 35°C and more, and minima around 20°C. The area’s relative humidity is quite high, and range between 70 and 90 percent, the high humidity can make it quite uncomfortable.
2015 and 2016 public holidays
Demographics – Singapore Demographics Profile
Demographic information includes population, quality of life, health, sports, technology, energy and the environment
Demographics of Singapore – Wikipedia
This site is about the demographic features of the population of Singapore, including population density, ethnicity, education level, health of the populace, economic status, religious affiliations and other aspects of the population.
Holidays and observances in Singapore
Schedule of national holidays and observances
Importers – Singapore Customs
The IMPORT of goods into Singapore is regulated under the Customs Act and the Regulation of Imports and Exports Act as well as their relevant subsidiary legislations. The EXPORT of goods from Singapore is regulated under the Customs Act and the Regulation of Imports and Exports Act as well as their relevant subsidiary legislations. Generally, all goods (controlled or non-controlled) exported from Singapore are not subjected to GST and/or duty payment.
FTAs – Ministry of Foreign Affairs
Singapore has, since 1999, pursued a dual track of negotiating multilateral trade agreements as well as bilateral Free Trade Agreements (FTAs). Singapore’s key interest lies in establishing FTAs that are WTO-consistent, with WTO-plus commitments with our key trading partners, thus complementing the multilateral process of advancing global free trade.
Welcome to Singapore FTA Network
FTAs are superhighways that connect Singapore to major economies and new markets. With FTAs, Singapore-based exporters and investors stand to enjoy a myriad of benefits like tariff concessions, preferential access to certain sectors, faster entry into markets and Intellectual Property (IP) protection.
Housing and Rentals
Accommodation in Singapore
Accommodation in Singapore is of a high standard, and is available in a number of shapes and sizes.
From glitzy luxury hotels to quirky budget accommodation, there’s a bed somewhere in the city made just for you.
Singapore Travel Guide | Fodor’s Travel
The main island of Singapore is shaped like a flattened diamond, 42 km (26 miles) east to west and 23 km (14 miles) north to south. Near the northern peak is the causeway leading to West Malaysia—Kuala Lumpur is less than four hours away by car. It is at the southern foot where you will find most of the city-state’s action, with its gleaming office towers, working docks, and futuristic “supertrees,” which are solar-powered and serve as vertical gardens
Singapore – Lonely Planet
Long dismissed as little more than a sterile stopover, Singapore has reinvented itself as one of the world’s hotlist destinations.