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Doingbusiness

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Submitted By ductam1690
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Doing Business in Singapore

Updated as of 8 September 2006

Pioneer Management Services Pte Ltd
4 Shenton Way #04-01 SGX Centre 2, Singapore 068807 Telephone: +65 6327 6266 Facsimile: +65 6327 3855 Email: pioneer@singnet.com.sg Website: www.pioneerassociates.com.sg

CONTENTS
Page 1 1.1 1.2 1.3 1.4 1.5 1.6 Introduction Geography and History Population Political System Languages Currency Economy 1 1 1 1 2 2 2-3

2 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9

Business Entities and Accounting Companies Branches Representative Offices Sole Proprietorships Partnerships Limited Liability Partnerships Joint Venture Audit and Accounting Requirements Record and Filing Requirements

3 3 3-4 4 4 4-5 5 5 5 6

3 3.1 3.2 3.3

Finance and Investment Exchange Control Sources of Finance Investment Incentives

6 6 6-8 8

CONTENTS
Cont’d 4 4.1 4.2 4.3 4.4 Employment Regulations and Social Security Contributions Employment Passes and Dependent’s Passes Engagement and Dismissal Trade Unions Social Security Contributions Page 8 8-9 9 9 10

5 5.1 5.2 5.3 5.4 5.5

Taxation in Singapore Companies Individuals Expatriates Indirect Taxes Other Taxes

10 10 - 14 15 - 18 18 - 19 19 - 20 21

Appendices 1 2 3 4 5 Tax incentives Withholding tax rates Corporate tax rates Personal income tax rates Personal tax reliefs 22 - 28 29 - 30 31 32 33

Doing Business in Singapore

1 1.1

INTRODUCTION Geography and History The Republic of Singapore is located at the southern tip of the West Malaysian Peninsula and consists of the island of Singapore and more than 50 smaller islands, most of which are uninhabited. The main island is 42 kilometers from east to west and 23 kilometers from north to south with an area of about 700 square kilometers. Singapore was founded in 1819 as a trading post for the East India Company and was a British colony. It gained self-rule in 1959 and

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