Business Etiquette Singapore harbors a conglomeration of cultures, each having their own customs. Though this led to conflicts in the past, today, the nation enjoys racial harmony and a common thread of business customs. Greetings – In Singapore, shaking hands is common at business and social meetings. A firm handshake is ideal both before and after… Continue reading Business Etiquette
Digital Economy Singapore’s digital economy is on the forefront of a major growth surge with increased national expenditure on artificial intelligence, thereby making it the second most digitally competitive country (2019). The nation’s investments in the digital realm indicate that Singapore aims to capitalize on this era of digitalization. Internet Penetration Rate – Singapore has a… Continue reading Digital Economy
Foreign Direct Investment FDI by sector – Singapore was the fourth largest recipient of Foreign Direct Investment (FDI) inflows in the world (2020) at US$ 2,141.8 billion with financial and insurance activities being the largest recipient. This was an increase of 11.3% versus 2019. The chart below describes the way the FDI has been divided across… Continue reading Foreign Direct Investment
Taxation Structure Corporate Income Tax (CIT) – The headline tax rate for foreign-sourced income is at a minimum of 15%, the company will have to pay the higher at the tax rate between Singapore and its resident country. Given that Singapore’s resident CIT of 17% is lower than most countries on a global scale, and is… Continue reading Taxation Structure
Ease of Doing Business and Corruption Ease of Doing Business Ranking – Singapore’s global rank of 2nd in its ease of doing business is a clear indicator of Singapore’s positive business environment. Singapore has maintained a top 3 ranking consecutively for the past 13 years, which highlights its strong and stable capabilities in terms of enforcing contracts,… Continue reading Ease of Doing Business
Government Structure and Society Singapore is a sovereign republic that applies a presidential system of government. The state’s political structure is modelled after the Westminster system which separates the executive, legislative and judiciary powers. The judiciary’s function is to independently administer justice and is protected by the Constitution. It comprises of the Supreme Court, State Courts and Family… Continue reading Government & Society
Demographic Advantage Singapore is the 20th smallest country in the world and has a population of 5.7 million people resulting in the 3rd highest population density in the world. Though the declining growth rate is at 0.47%, Singapore is named the most expensive city for five years in a row and plans to accommodate this growth through timely land reclamation. Due to the small… Continue reading Demographic Advantage
Historical Background Singapore has a long history of being colonized by the British. Though it did not play a major role in World War I, it was militarized under the Allied Forces in World War II. As a nation with flourishing trade, natural resources and ability to satisfy military and industry needs, Singapore became a… Continue reading Historical Background
COUNTRY HIGHLIGHTS Singapore > Country Highlights COUNTRY HIGHLIGHTS ABOUT SINGAPORE Map of Singapore Geography An island city-state off the tip of the Malay Peninsula Total Land Area 733 sq km/ 283 sq mi Main Geographical FeaturesTerritory consists of one main island, and >60 satellite islands and islets Capital Singapore GDP in US$ (Billion) Global Ranking… Continue reading Country Highlights
