| |
Singapore welcomes all forms of enterprise and investment. We have made the process of setting up and running a business as streamlined as possible.
Much of the information you need about doing business in Singapore is available online. Here is a quick guide to some of the key issues.
|
| |
1. Registering a business
Every business must be registered with the Accounting & Corporate Regulatory Authority (ACRA). This includes any individual, firm or corporation that carries out business for a foreign company.
A foreign company that wants to set up a branch in Singapore will need to appoint two local agents to act on its behalf. These agents must be Singapore residents, that is, either citizens or permanent residents, or foreigners with employment or dependant passes. Information on registering a branch of a foreign company is available here.
Special licenses are needed for a handful of businesses, mostly financial activities such as banking, insurance and stock broking. For a small number of items, such as cigars and firecrackers, you will need a license before you can manufacture them in Singapore.
A step-by-step guide to registering a business or company in Singapore is provided at the business.gov.sg website.
If you are a foreigner
A foreigner who is not a Singapore permanent resident and who wants to engage in any business, profession, occupation or any form of paid employment in Singapore with a minimum monthly income of more than S$2,500 will need an employment pass. You can find out more about employment passes at the Ministry of Manpower's website. You can also visit the Work Pass Division at the Ministry of Manpower, 18 Havelock Road Singapore 059764. You can also call the Employment Pass hotline at Tel: (65) 6438 5122.
|
| |
| |
 |
| |
2. Setting up a not-for-profit Non-Governmental Organisation (NGO)
Non-Governmental Organisations (NGOs) that are not-for-profit can be legally set up as either a society with the Registry of Societies or a company limited by guarantee with the Accounting & Corporate Regulatory Authority (ACRA).
NGOs with charitable objectives are eligible to apply for incentives under the Charity Status and the Institution of Public Character Status within 3 months of incorporation in Singapore. Details of the conditions, application process and the application forms can be found on the Inland Revenue Authority of Singapore website.
Other forms of support for setting up of NGOs in Singapore are available. Please contact EDB at (65) 6832 6832 for details.
|
| |
 |
| |
3. Finding business premises
Businesses have a wide choice of space for their operations. All manner of office space can be found - from three-storey walk-up former shophouses in the conserved parts of town to towering office blocks with high-speed lifts and far-reaching views.
Factory space ranges from vacant plots of land to ready-built low-rise and high-rise units, workshops and warehouses.
There are also a number of business parks and specialised industrial parks, within and beyond Singapore, including:
(A) BUSINESS PARKS:
(B) SPECIALISED INDUSTRIAL PARKS:
Petrochemicals:
Wafer Fab:
Woodlands
Advanced Display:
Biomedical:
Logistics:
- Airport logistics at Changi
- Chemical Logistics at Jurong Island
Food:
(C) OVERSEAS INDUSTRIAL PARKS:
(D) TECHNOPRENEUR PARKS:
- The Enterprise @ jurong east
- iAxil @ Singapore Science Park
- Technopreneur Centre @ Ayer Rajah
- Phase Z.Ro @ one-north
- Technopreneur Centre @ Bukit Merah - Suntec City
- Technopark @ Chai Chee
|
| |
| |
 |
| |
4. Financial assistance and other incentive schemes
A number of programmes have been established by the government and the private sector to help companies improve efficiency, strengthen capabilities and exploit new opportunities in every aspect of their business.
Some cater to the needs of startups and local enterprises, while others are designed for large global companies that want, for example, to base their regional headquarters in Singapore.
|
| |
| |
 |
| |
5. Recruiting staff
Singapore has a talented workforce that is ranked among the world's best for productivity, work attitude and technical skills. Workers speak English proficiently, are dedicated, hardworking, and keen to upgrade their skills and knowledge. A host of worker-training and scholarship programmes ensures that skills are constantly growing.
Our doors are open to foreign talent, too. It takes no more than two weeks to get employment passes for foreign staff. When a specialist or manager comes to Singapore for a short-term project, the approval can come in just three working days.
Full details of the various kinds of employment passes, as well as dependency passes for family members, are available at the Ministry of Manpower site.
Find out about Singapore's labour market, employment laws, recruitment services, and worker training and staff development schemes here.
|
| |
| |
 |
| |
6. Taxation
Singapore's tax rates are low for both corporations and individuals. The aim is to attract foreign investment, and encourage entrepreneurship, risk-taking and business development.
A guide to the tax system is available here.
A Goods and Service Tax (GST) of 7% is payable on the supply of goods and services, excluding financial services and the sale or lease of residential properties. The GST is also payable on goods imported into Singapore.
Information about GST is available here.
|
| |
| |
 |
| |
7. Living in Singapore
Singapore is one of the most welcoming cities in Asia for expatriates. It is safe and orderly; living standards are high; and there is much choice for entertainment and sport. More than a dozen schools cater to the education needs of expatriate children:
To facilitate your entry and stay in Singapore during the business exploration and confirmation period, you may wish to make use of the various immigration schemes under the Global Investor Programme:
- Multiple Journey Visa
- Social Visit Pass for Entrepreneurs
- EntrePass
Find out more about life in Singapore at these websites:
|
| |
|  |
|
