How to Set Up
Are you a foreign trading company thinking of setting up in Singapore?
Singapore may be the easiest place to do business, but going to the right place to find the right information definitely goes a long way to help move you along.
Setting up a Representative Office
If you are keen to explore the viability of doing business in Singapore or are interested in using Singapore as a launch pad into the Asia Pacific, you may wish to set up a Representative Office (RO) to assess the business environment in Singapore before setting up a permanent establishment. Register here.
If you’re a foreign entrepreneur keen to start a business in Singapore, you can apply for an EntrePass from the Ministry of Manpower (MOM). If your employees are non-residents, they need to hold a valid work pass – an Employment Pass, S Pass or Work Permit, depending on their skills, qualifications, job and salary. Find out more from the Ministry of Manpower website.
Singapore maintains an edge in human resource with a strong pool of local talent as well as a capable international workforce. You may wish to find out more about Singapore’s labour market, fair employment practices and sources to recruit employees at the EnterpriseOne and Ministry of Manpower websites.
Income tax is payable on both Singapore-sourced and foreign-sourced income received in Singapore, though exemptions may apply to certain foreign-sourced income. The corporate income tax rate is 17%, while the personal income tax rate ranges from 0% to 20%. Singapore tax resident companies and individuals can benefit from various tax reliefs, incentives and the extensive Avoidance of Double Taxation Agreement (DTA) network in place. Find out more at the IRAS website.
Global Trader Programme
IE Singapore’s Global Trader Programme
provides a concessionary tax rate to trading companies on their qualifying trading income.
Well-established players engaged in international trading with a wide trading and distribution network are welcome to apply.
Living in Singapore
Singapore has consistently been named Asia’s most liveable city1, testament to its safe environment, quality housing, renowned educational institutions, established healthcare services and excellent transport network.
The government’s pro-business stance and low personal income tax rates make Singapore an attractive place to work in, while the flourishing arts and cultural scene, together with over 3,000 hectares of parks and reservoirs, defines Singapore as the ideal place to relax and unwind.
1 Quality of Living Index, Mercer, 2011
News and Events
Upcoming industry events in Singapore