Singapore

Gateway to the World ▪ Dynamic ▪ Conducive ▪ Cosmopolitan ▪ Safe ▪ Vibrant Lifestyle

Ideal Place for Your Business

With its strategic location within Asia, Singapore is your gateway to the region's resources, talents and markets of 500 million people in the Southeast Asia and 2.8 billion in Asia - all within no more than a seven-hour flight away. These are emerging and fast growing markets with an enormous appetite for consumer goods and innovative products, and in need of a wide range of services. Extending beyond the region, Singapore links you to the world with its comprehensive network of FTAs.

For more information on Singapore's Strategic Business Location, please click here.

Singapore welcomes foreign investment, particularly in the services sector and in areas that develop technological, management and labour skills. Multinational corporations are viewed as valuable contributors to economic growth.

The following are several reasons why Singapore is one of the most conducive environments to do business in the world:

	There are generally no restrictions on the foreign ownership of businesses, although some types of businesses require special licenses from the government, such as banks, finance companies, insurance and stock broking firms. A few manufactured items also require licenses.
	Capital, profits, dividends and royalties may be freely imported or repatriated.
	Low corporate and personal tax rate. Corporate Tax A company, whether incorporated locally or overseas, is considered to be resident in Singapore if its control and management are exercised in the country. Regardless of where it was incorporated, tax is charged on income accrued in or derived from Singapore or received in Singapore from outside the country. The 2002 budget cut the corporate income tax rate from 24.5% to 22% for assessment year (YA) 2003 and to 20% by YA2005. Personal Tax An individual who is present or employed in Singapore for 183 days or more during the calendar year preceding a year of assessment is treated as a resident for that year of assessment. Income derived from sources outside Singapore is taxable only if a resident individual receives it in Singapore. Both residents and non-residents must pay tax on income accrued in or derived from Singapore. The top rate was cut from 26% to 22% for YA2003 and will be further reduced to 20% by YA2005 with corresponding cuts in all income bands.   Chargeable income (S$) Tax rate 2003 (%) 0-20,000 0 20,001-30,000 4 30,001-40,000 6 40,001-80,000 9 80,001-160,000 15 160,001-320,000 19 >320,000 22 For more information on taxation in Singapore, please click here.
	Relaxed immigration facilitation for entry and stay for foreign investors, entrepreneurs and business executives who plan to set up and conduct businesses in Singapore. Multiple Journey Visa To facilitate the frequent entry of business executives form visa-requiring countries into Singapore whether to explore business opportunities or to attend to your business and investment. Multiple visits, each lasting up to 30 days, are allowed to during the validity period of visa (renewable up to 5 years) with no need for a separate visa application for each visit. Social Visit Pass To enable you to stay in Singapore for 6 months, renewable up to 1 year, to explore business opportunities, conduct feasibility studies or complete negotiations. EntrePass To facilitate the entry and stay of entrepreneurs who are ready to start a new business. Issued upon submission of a sound business proposal for an initial validity period of 2 years and renewable for as long as the business remains viable. The EntrePass also allows your immediate family to live in Singapore while you start and grow your business here. Permanent Resident for Investors If you are committed to investing or setting up a business of at least S$1 million, you may apply for permanent resident for yourself and your immediate family.
	Government offers a wide range of investment incentives, notably tax concessions, both to promote new investment in favoured industries and services and to encourage existing enterprises to upgrade. No distinction is made between foreign and local investment capital in the granting of these concessions. For more information on investment incentives in Singapore, please click here.

Ideal Place for You and Your Family

Singapore is one of the safest and cleanest cities in the world with a longstanding socio-political stability, extensive and efficient network of public transportation, world-class healthcare and excellent education systems. What is more, Singapore's multi-racial and multi-religious society offers an exciting and mix of cultures, all manner of digital-age entertainment and an unending array of culinary temptations-a delightful cosmopolitan city to live in with a vibrant lifestyle for you and your family.

For more information on living in Singapore, you may visit Expat Singapore website at http://www.expatsingapore.com.

If you plan and want to know more about how to setup a business in Singapore, please contact us now @ 6533 7393.

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