Getting Started in Singapore
For individuals who are interested in starting a business in Singapore, two of the earliest questions asked will be:
- What type of business structure should I adopt that best matches the goals
of my company?
- What are the general steps needed for company formation?
Singapore Budget 2012 Highlights
Some of the key measures announced in this year's Budget are as follows:
- A reduction of the foreign worker dependency ratio ceilings from 65% to 60% for manufacturing sector and 50% to 45% for the services sector
- Several measures to help SMEs restructure, attract local employees, and grow. These include enhancements to Special Employment Credit to attract and retain older workers; a one-off SME cash grant to help offset higher business costs; enhancements to several schemes including the Productivity and Innovation Credit scheme, the Renovation and Refurbishment Deduction Scheme and the Merger and Acquisition Scheme
- An increase in the employer and employee CPF contribution rates for workers aged above 50, which was widely anticipated
- A doubling of the Earned Income Relief for those aged above 55, and also for handicapped workers
Good Practice Checklist for a local agent of a branch
This checklist serves as a guideline to help local agents carry out responsibilities as the local agent of a foreign company.
Directors' Good Practice Checklist
This checklist serves as a guideline to assist directors in their duties at respective companies.
Business Articles & Resources
Links to articles & resources for your benefit pertaining to key government policies and regulations that will affect your business.
What's Next after Representative Office – Some Considerations
A Representative Office (RO) allows a foreign company to test out Singapore's business environment before committing to long term investments. It is subject to a 3-year tenure and a limited scope of activities. The following explores some common questions posed by ROs upon the expiry of tenure.
GST Quick Alerts
Accounting and Corporate Regulatory Authority (“ACRA”)
Launches New Initiatives
As you may have already heard of or be aware, ACRA has recently announced the introduction of three new initiatives to encourage voluntary compliance amongst companies and to strengthen its regulatory regime. The three initiatives are:
If you have any questions regarding the above measures, please do not hesitate to contact us.
Singapore Budget 2008 - Incentives & Updates
The Singapore government’s 2008 budget introduced several new incentives and schemes, and amended existing ones. Here are some of the key changes unveiled in the Singapore Budget 2008.
Contact the FMG team if you have any questions regarding these new incentives & updates introduced in Singapore budget 2008.