Are you a foreign company thinking of setting up a presence in Singapore? You have chosen an ideal location as Singapore is known to be one of the easiest places to do business. Here is a guide on where to find the information to help speed up your move to Singapore.
Interested to use Singapore as a launchpad to enter the regional market? You may wish to set up a Representative Office (RO) to assess the viability of doing business in Singapore and the region before establishing a permanent establishment here.
You may wish to refer to these useful links:
If you are a foreign entrepreneur keen on starting a business in Singapore, you can apply for an EntrePass from the Ministry of Manpower (MOM).
Non-resident employees will need a valid work pass or permit, such as an Employment Pass, S Pass or Work Permit.
Singapore has an edge in human resource with a strong pool of local talent as well as a capable international workforce.
Find out more about Singapore’s labour market, fair employment practices and where to recruit employees at the Ministry of Manpower website.
Tax is payable on both Singapore and foreign-sourced income, with limited exemptions applicable to the latter. Corporate tax is set at 17% and personal income tax ranges from 0%–20%. Individuals and local tax resident companies can benefit from tax incentives and Avoidance of Double Taxation Agreements (DTAs).
Learn more at the IRAS website.
Enterprise Singapore’s Global Trader Programme provides a concessionary corporate tax rate to trading companies with substantial operations in Singapore on their qualifying trading income for three or five years.
Well-established players engaged in international trading with a wide trading and distribution network are welcome to apply.
You can also check out this curated guide on professional services firms (including accounting, corporate secretarial, human resources, legal and real estate firms) for help when expanding your business into Singapore and Southeast Asia.