SINGAPORE
Considering Singapore as a potential location for your business is a smart choice. In 2017, Singapore has been ranked No.2 in the world for its ease of doing business by The World Bank.
Singapore offers many outstanding advantages:
Find the answers to your questions about how to set up or how to do business in Singapore here.
Business activities may be carried out through a Singapore incorporated company, a branch registered under the Singapore Companies Act, a sole proprietorship, a partnership or a limited liability partnership. Representative offices may also be established but conditions apply.
A corporation is generally liable for Singapore income tax on all income accruing in, or derived from Singapore, as well as foreign sourced income remitted or deemed remitted into the country.
GST is a tax on domestic consumption. It is a form of value-added tax, which applies to goods and services supplied in Singapore by businesses in Singapore, and to goods and services imported into Singapore.
Foreign nationals intending to enter Singapore to take up employment or to engage in business must obtain the relevant pass from the Ministry of Manpower.
Other indirect taxes are not significant except for excise duties mainly on tobacco and liquor, betting duties and various duties related to vehicle ownership.
In general, individuals are liable to Singapore income tax only on income accruing in or derived from Singapore.
A section about Singapore's Social Security.
