Business in Singapore
Doing Business in Singapore
DOING BUSINESS IN SINGAPORE
1
CONTENTS
3 4 11 FOREWORD INTRODUCTION - Getting to know Singapore OVERVIEW OF LEGAL ENVIRONMENT - Legal Framework - Handling Civil Disputes - Employment - Immigration - Competition Act - Singapore's Free Trade Agreement (FTAs) STARTING A BUSINESS BANKING RELATIONSHIP IN SINGAPORE - Introduction to the Financial Landscape in Singapore - Banking in Singapore - Business Credit Facilities - Business Protection TYPES OF BUSINESS ORGANISATIONS - Sole Proprietorships and General Partnerships - Limited Liability Partnerships - Limited Partnerships - Companies - Joint Ventures - Foreign Companies - Representative Offices - Incorporating a Company - Annual Requirements for Companies - Registration of a Foreign Company - Registration of a Limited Liability Company (LLP) - Comparison of Sole Proprietorships, General Partnerships, LLPs and Companies FINANCIAL REPORTING AND AUDITING - The Accounting Profession - Regulation of the Accounting Profession - Accounting Records - Financial Reporting Standards - Companies Act Requirements LISTING IN SINGAPORE - The Singapore Advantage - Timeline to IPO - Professional Help to Pave the Way - Costs Involved in a Listing Exercise SINGAPORE’S EMPLOYMENT LANDSCAPE - Employment Standards and Regulations - Employee Rights WORKING IN SINGAPORE - Types of Employment Passes - A Summary of Levy Changes for S Pass/ Work Permit - Statutory Board Contributions 42 TAXATION IN SINGAPORE - Introduction - Income Tax - Taxes on Individuals - Taxes on Corporation - Productivity and Innovation Credit ("PIC") - Tax Incentives - Dividend Payment - Transfer Pricing - Withholding Tax - Double Tax Agreements - Goods and Services Tax - Stamp Duty - Property Tax - Customs and Excise Duties - Estate Duty and Gift Taxes - Exchange Control BUSINESS AND RESIDENTIAL PREMISES - Office Space - Typical Office Lease Terms - Industrial Space - Typical Industrial Lease Terms - Residential Accommodation -
DOING BUSINESS IN SINGAPORE
1
CONTENTS
3 4 11 FOREWORD INTRODUCTION - Getting to know Singapore OVERVIEW OF LEGAL ENVIRONMENT - Legal Framework - Handling Civil Disputes - Employment - Immigration - Competition Act - Singapore's Free Trade Agreement (FTAs) STARTING A BUSINESS BANKING RELATIONSHIP IN SINGAPORE - Introduction to the Financial Landscape in Singapore - Banking in Singapore - Business Credit Facilities - Business Protection TYPES OF BUSINESS ORGANISATIONS - Sole Proprietorships and General Partnerships - Limited Liability Partnerships - Limited Partnerships - Companies - Joint Ventures - Foreign Companies - Representative Offices - Incorporating a Company - Annual Requirements for Companies - Registration of a Foreign Company - Registration of a Limited Liability Company (LLP) - Comparison of Sole Proprietorships, General Partnerships, LLPs and Companies FINANCIAL REPORTING AND AUDITING - The Accounting Profession - Regulation of the Accounting Profession - Accounting Records - Financial Reporting Standards - Companies Act Requirements LISTING IN SINGAPORE - The Singapore Advantage - Timeline to IPO - Professional Help to Pave the Way - Costs Involved in a Listing Exercise SINGAPORE’S EMPLOYMENT LANDSCAPE - Employment Standards and Regulations - Employee Rights WORKING IN SINGAPORE - Types of Employment Passes - A Summary of Levy Changes for S Pass/ Work Permit - Statutory Board Contributions 42 TAXATION IN SINGAPORE - Introduction - Income Tax - Taxes on Individuals - Taxes on Corporation - Productivity and Innovation Credit ("PIC") - Tax Incentives - Dividend Payment - Transfer Pricing - Withholding Tax - Double Tax Agreements - Goods and Services Tax - Stamp Duty - Property Tax - Customs and Excise Duties - Estate Duty and Gift Taxes - Exchange Control BUSINESS AND RESIDENTIAL PREMISES - Office Space - Typical Office Lease Terms - Industrial Space - Typical Industrial Lease Terms - Residential Accommodation -