Know the Important Facts Before Investing in Singapore
Why Invest in This Part of the World
|
Asia's Changing Role in World Trade
Asia covers about 8.8% of the total surface area of Earth, is in fact the largest continent on Earth. It is also the largest continent by population, consisting of 49 countries with an estimated population of about 4.5 billion out of about 7.3 billion. It is about 2.5 times larger than whole of Europe and America combined. While some Asian countries are still facing economy and political challenges, these countries are currently undergoing rapid growth and industrialization spearheaded by China and India, the two fastest growing major economies in the world. Over the years, with rapid economic growth and large trade surplus with the rest of the world, Asia has accumulated over US$4 trillion of foreign exchange reserves - more than half of the world's total. Asian Development Bank (ADB) reports, by 2050 an additional 3 billion Asians could enjoy living standards similar to those in Europe today. According to a leading International Monetary Fund (IMF) economist, Anoop Singh, Asia is set to become an increasingly important engine of growth in the future. Indeed with the rapid grow in the region, the number of billionaires surpassed North America for the 1st time in 2012. More than 40% of the total billionaires or 608 billionaires came from Asia. North America and Europe had 440 and 324 billions respectively. In additional, the World Bank predicted that China may become the largest economy in the world by 2030, while India may become the 2nd largest economy in the world by 2035. |
|
Why Singapore
Spurred by continual innovation across various industries and pro-business policies, Singapore is the ideal investment destination to move into the Asian Markets.
Our History
Singapore was founded in 1819 as a British trading colony. In 1819 when the main island was colonized by the British East India Company it was a fishing village sparsely populated by indigenous Malays and Orang Lauts staying mainly at the mouth of the Singapore River. It later became one of British empire's most important commercial and military centers. The British used Singapore as a strategic trading outpost for spice.
During the World War II Singapore was occupied by the Japanese Empire, however it was reverted to the British rule in 1945 and was later part of the merger which established The Federation of Malaysia in 1963. Two years later it left the federation and became an independent republic on August 9, 1965. The new republic was admitted to the United Nations on September 21 that same year.
Singapore is one of the smallest country with about 750km2 of surface area and a population of slightly more than 5.2 million people in Asia. Some refer the modern Singapore as the “little red dot”, but Singapore’s presence in the world today is larger than that nickname. In fact, Singapore is a bustling cosmopolitan city with a landscape populated by gardens, high rise buildings and offers a world-class living environment. One interesting fact you’ll discover about Singapore is that it is a place where people of different cultures, ethnicities and beliefs coexist. Besides the vibrant multicultural experience, there is more you can discover about Singapore.
The modern Singapore subsequently became one of the world's most prosperous countries with strong international trading links (its port is constantly one of the world's busiest in terms of tonnage handled) and with per capita GDP equal to that of the leading nations. Singapore's GDP per capita was less than U$320 in the 1960s. The GDP per capita has grown to one of the world's highest at US$62,000 by 2010s, with about 110,000 millionaires in Singapore.
Our History
Singapore was founded in 1819 as a British trading colony. In 1819 when the main island was colonized by the British East India Company it was a fishing village sparsely populated by indigenous Malays and Orang Lauts staying mainly at the mouth of the Singapore River. It later became one of British empire's most important commercial and military centers. The British used Singapore as a strategic trading outpost for spice.
During the World War II Singapore was occupied by the Japanese Empire, however it was reverted to the British rule in 1945 and was later part of the merger which established The Federation of Malaysia in 1963. Two years later it left the federation and became an independent republic on August 9, 1965. The new republic was admitted to the United Nations on September 21 that same year.
Singapore is one of the smallest country with about 750km2 of surface area and a population of slightly more than 5.2 million people in Asia. Some refer the modern Singapore as the “little red dot”, but Singapore’s presence in the world today is larger than that nickname. In fact, Singapore is a bustling cosmopolitan city with a landscape populated by gardens, high rise buildings and offers a world-class living environment. One interesting fact you’ll discover about Singapore is that it is a place where people of different cultures, ethnicities and beliefs coexist. Besides the vibrant multicultural experience, there is more you can discover about Singapore.
The modern Singapore subsequently became one of the world's most prosperous countries with strong international trading links (its port is constantly one of the world's busiest in terms of tonnage handled) and with per capita GDP equal to that of the leading nations. Singapore's GDP per capita was less than U$320 in the 1960s. The GDP per capita has grown to one of the world's highest at US$62,000 by 2010s, with about 110,000 millionaires in Singapore.
Singapore Solid Foundation
Trust
Singapore is attuned to the needs of businesses and the need to protect innovation and invention in order to expand business opportunities. Singapore is known for quality, reliability, productivity, rule of law and more importantly the enforcement of intellectual property rights. The government keeps its tax rates and law competitive and takes a strategic and holistic approach towards attracting businesses and investment into Singapore. Hence, businesses looking to set up in Singapore can expect integrity, utmost respect for intellectual capital and a pro-business environment.
Knowledge
Besides the multi-cultural nature of Singapore's workforce, the city is also able to attract global talent and is paving the way to drive its leadership position in key knowledge-intensive industries. Singaporean workforce is highly educated, motivated and productive. It is also proficient in English - the language of international business. In additional, Singapore has a sizable pool of skilled technicians, engineers and R&D researchers supplied by Singapore's world class research institutions, universities and polytechnics.
Connected
Singapore's unparalleled connectivity and infrastructure paves the way for businesses more extensive and better market access and trade flows. She is a global transportation hub with the most extensive and comprehensive network of trade agreements. Including are Free Trade Agreements (FTA) in Asia and 35 Investment Guarantee Agreements (IGA) designed to help protect investments made by Singapore-based companies in other countries against non-commercial risks. Singapore's container ports are one of the busiest in the world, offering a choice of 200 shipping lines with links to some 600 ports in 123 countries. Changi International Airport is linked to some 280 cities in 60 countries, with about 6,900 weekly flights. Besides offering convenience and effective connectivity for passengers and cargo, the airfreight centre is ale a 24-hour, one-stop hub for storing, moving and repackaging of goods without the need for documentation and custom duties. This has drawn some 6,000 logistics service providers to Singapore.
Life
Quality of life for employees are just as important. Singapore offers the best quality of life in Asia and is one of the best places to live in the world.
Trust
Singapore is attuned to the needs of businesses and the need to protect innovation and invention in order to expand business opportunities. Singapore is known for quality, reliability, productivity, rule of law and more importantly the enforcement of intellectual property rights. The government keeps its tax rates and law competitive and takes a strategic and holistic approach towards attracting businesses and investment into Singapore. Hence, businesses looking to set up in Singapore can expect integrity, utmost respect for intellectual capital and a pro-business environment.
Knowledge
Besides the multi-cultural nature of Singapore's workforce, the city is also able to attract global talent and is paving the way to drive its leadership position in key knowledge-intensive industries. Singaporean workforce is highly educated, motivated and productive. It is also proficient in English - the language of international business. In additional, Singapore has a sizable pool of skilled technicians, engineers and R&D researchers supplied by Singapore's world class research institutions, universities and polytechnics.
Connected
Singapore's unparalleled connectivity and infrastructure paves the way for businesses more extensive and better market access and trade flows. She is a global transportation hub with the most extensive and comprehensive network of trade agreements. Including are Free Trade Agreements (FTA) in Asia and 35 Investment Guarantee Agreements (IGA) designed to help protect investments made by Singapore-based companies in other countries against non-commercial risks. Singapore's container ports are one of the busiest in the world, offering a choice of 200 shipping lines with links to some 600 ports in 123 countries. Changi International Airport is linked to some 280 cities in 60 countries, with about 6,900 weekly flights. Besides offering convenience and effective connectivity for passengers and cargo, the airfreight centre is ale a 24-hour, one-stop hub for storing, moving and repackaging of goods without the need for documentation and custom duties. This has drawn some 6,000 logistics service providers to Singapore.
Life
Quality of life for employees are just as important. Singapore offers the best quality of life in Asia and is one of the best places to live in the world.
|
|
|
Airport
Changi Airport is about 20 km. from the Central Business District. The airport is linked by two expressways -- the East Coast Parkway and the Pan Island Expressway -- to other parts of Singapore, providing easy access by taxi, public bus, or car. Travel time to the city is about 25 minutes by car or taxi, 45 minutes by bus.
Visa
Visitors entering Singapore must have passports valid for six months from the time of their arrival. Visas are not required for stays of up to two weeks for Commonwealth citizens, British passport holders, and citizens of the Republic of Ireland.
Currency
The Singapore dollar (S$) is divided into 100 cents. Foreign exchange facilities area available at the airport, hotels, large department stores, and authorized money changers.
Credit Cards
Major international credit cards such as Visa, Diners Club, Bankard, MasterCard, and American Express are accepted in major establishments.
Tipping
Tipping is actively discouraged by the government. It is prohibited in the airport and not encouraged in hotels that already charge a 10% service charge, as well as restaurants that charge GST. However, bellboys are generally tipped $1 per luggage. You are not obliged to tip taxi drivers.
Useful Numbers
Police 999
Ambulance 995 (toll-free)
Airport Coach Service (AIRBUS) 542-1721 or 542-1732
Electricity
220-240 volts, 50 cycles. Wall outlets are for three- or two-pronged plugs. If your appliances are dual-voltage, you'll need only an adapter.
Health Risks
Singapore is generally epidemic-free, but hepatitis is not uncommon and may be caused by contaminated seafood and street food. Singapore's water is clean and safe to drink from the tap, and need not be boiled.
Business Hours
Most private offices are open weekdays from 9 a.m. to 5 p.m. and Saturdays from 9:00 a.m. to 1:00 p.m.
Banks are open on weekdays from 9:30 a.m. to 3 p.m.; Saturdays from 9:30 a.m. to 1:00 p.m.
Malls are generally open the whole week from 10:00 a.m. to 10:00 p.m.
Time Zone
GMT + 8 hours, same as Hong Kong
Climate
Tropical; warm and humid, with only slight variations between 23°-31°Celsius. There are two main seasons: the Northeast Monsoon (from December to March) and the Southwest Monsoon (from May to September), separated by two shorter inter-monsoon periods. There are no distinct wet or dry periods.
Clothing
In business settings, lightweight conservative clothing, like dress slacks, a long-sleeved shirt, and a tie will fit in well. Suits are reserved for important meetings and formal events. Businesswomen generally wear knee-length or longer skirts with blouses, and understated make-up.
Major Exports
Computer equipment, rubber and rubber products, petroleum products, telecommunications equipment.
Major Industries
Manufacture of electronic equipment; financial services; oil drilling equipment; petroleum refining; rubber processing and rubber products; production of processed foods and beverages; ship building and repair; biotechnology
Teledensity
14.4 persons per telephone
Government
Parliamentary. The parliament is unicameral; executive power nominally rests with the president but effectively lies with the prime minister and the Cabinet.
Geography
Singapore, a small island with over 60 surrounding islets, is located in Southeastern Asia. Its land area is about 750 square kilometers. It is linked to Malaysia by two causeway bridges, while Indonesia is just a quick ferry trip away. Thailand and the Philippines are a short plane ride away.
Ethnic Groups
Chinese (77%); Malay (14%); Indian (7%); others (2%)
Language
Malay is the national language. Chinese (Mandarin), Malay, Tamil and English are the official languages. English is the language of administration and widely used for business dealings. Singlish -- a Singaporean version of English that has its own grammar -- is also widely used.
Literacy
93% of total population
Religion
Buddhist, Muslim, Christian, Hindu, Sikh, Taoist, and Confucian
Changi Airport is about 20 km. from the Central Business District. The airport is linked by two expressways -- the East Coast Parkway and the Pan Island Expressway -- to other parts of Singapore, providing easy access by taxi, public bus, or car. Travel time to the city is about 25 minutes by car or taxi, 45 minutes by bus.
Visa
Visitors entering Singapore must have passports valid for six months from the time of their arrival. Visas are not required for stays of up to two weeks for Commonwealth citizens, British passport holders, and citizens of the Republic of Ireland.
Currency
The Singapore dollar (S$) is divided into 100 cents. Foreign exchange facilities area available at the airport, hotels, large department stores, and authorized money changers.
Credit Cards
Major international credit cards such as Visa, Diners Club, Bankard, MasterCard, and American Express are accepted in major establishments.
Tipping
Tipping is actively discouraged by the government. It is prohibited in the airport and not encouraged in hotels that already charge a 10% service charge, as well as restaurants that charge GST. However, bellboys are generally tipped $1 per luggage. You are not obliged to tip taxi drivers.
Useful Numbers
Police 999
Ambulance 995 (toll-free)
Airport Coach Service (AIRBUS) 542-1721 or 542-1732
Electricity
220-240 volts, 50 cycles. Wall outlets are for three- or two-pronged plugs. If your appliances are dual-voltage, you'll need only an adapter.
Health Risks
Singapore is generally epidemic-free, but hepatitis is not uncommon and may be caused by contaminated seafood and street food. Singapore's water is clean and safe to drink from the tap, and need not be boiled.
Business Hours
Most private offices are open weekdays from 9 a.m. to 5 p.m. and Saturdays from 9:00 a.m. to 1:00 p.m.
Banks are open on weekdays from 9:30 a.m. to 3 p.m.; Saturdays from 9:30 a.m. to 1:00 p.m.
Malls are generally open the whole week from 10:00 a.m. to 10:00 p.m.
Time Zone
GMT + 8 hours, same as Hong Kong
Climate
Tropical; warm and humid, with only slight variations between 23°-31°Celsius. There are two main seasons: the Northeast Monsoon (from December to March) and the Southwest Monsoon (from May to September), separated by two shorter inter-monsoon periods. There are no distinct wet or dry periods.
Clothing
In business settings, lightweight conservative clothing, like dress slacks, a long-sleeved shirt, and a tie will fit in well. Suits are reserved for important meetings and formal events. Businesswomen generally wear knee-length or longer skirts with blouses, and understated make-up.
Major Exports
Computer equipment, rubber and rubber products, petroleum products, telecommunications equipment.
Major Industries
Manufacture of electronic equipment; financial services; oil drilling equipment; petroleum refining; rubber processing and rubber products; production of processed foods and beverages; ship building and repair; biotechnology
Teledensity
14.4 persons per telephone
Government
Parliamentary. The parliament is unicameral; executive power nominally rests with the president but effectively lies with the prime minister and the Cabinet.
Geography
Singapore, a small island with over 60 surrounding islets, is located in Southeastern Asia. Its land area is about 750 square kilometers. It is linked to Malaysia by two causeway bridges, while Indonesia is just a quick ferry trip away. Thailand and the Philippines are a short plane ride away.
Ethnic Groups
Chinese (77%); Malay (14%); Indian (7%); others (2%)
Language
Malay is the national language. Chinese (Mandarin), Malay, Tamil and English are the official languages. English is the language of administration and widely used for business dealings. Singlish -- a Singaporean version of English that has its own grammar -- is also widely used.
Literacy
93% of total population
Religion
Buddhist, Muslim, Christian, Hindu, Sikh, Taoist, and Confucian
