What does the ASEAN consumer think and feel about the economy? How has spending and financial behaviour changed? Get the latest highlights from the region’s barometer of consumer sentiments.
What does the ASEAN consumer think and feel about the economy? How has spending and financial behaviour changed? Get the latest highlights from the region’s barometer of consumer sentiments.
Explore key business trends and sentiments today.
View reportyou are in UOB ASEAN Insights
Located at the heart of Southeast Asia, Singapore is one of the top trade and financial hubs in the region. The country remains the largest recipient of Foreign Direct Investments (FDI) in ASEAN, and is recognised for its ease in doing business, developed infrastructure and stable sociopolitical climate.
Steps | Details |
Choose a business structure and register with the Accounting and Corporate Regulatory Authority (ACRA) | Submit a company name application via ACRA’s online business registration and filing portal Bizfile+. Proceed to incorporate your company once your application is approved. Required documents for incorporation:
Notes:
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Address key business needs and prepare business plan for incentive and schemes (Optional) | Recruitment, financing, and property acquisition. Business plan includes assistance required, corporate profile and business goals. |
Application for visas | EntrePass: Enables eligible foreign entrepreneurs to start and operate a new business. Global Investor Programme (GIP): Grants Singapore permanent resident (PR) status to investors with a substantial business track record, with an intention of driving investment growth. |
Start business | Commence business upon approval. |
Steps |
Choose a business structure and register with the Accounting and Corporate Regulatory Authority (ACRA) |
Address key business needs and prepare business plan for incentive and schemes (Optional) |
Application for visas |
Start business |
In Singapore, non-residents are subjected to an interest withholding tax rate of 15%, whereas for residents, the rate stands at 0%.
In term of standard corporate tax, the rate is at 17%.
Incentives that businesses receive are based on sectors, locations and company size – in various amounts and periods of time. Some of these incentives include:
International Headquarters (IHQ) Award, Pioneer Certificate Incentive (PC), and Development and Expansion Incentive (DEI)
Finance and Treasury Centre Incentive
Intellectual Property (IP) Development Incentive (IDI)
Global Trader Programme
Singapore Economic Development Board (EDB)
The Singapore Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry, is responsible for strategies that enhance Singapore’s position as a global centre for business, innovation, and talent.
Visit the EDB website
Enterprise Singapore (ESG)
Enterprise Singapore is a statutory board under the Ministry of Trade and Industry of the Government of Singapore championing enterprise development.
Visit the Enterprise Singapore website
This fact sheet is given on a general basis without obligation and is strictly for information only. Nothing in this fact sheet constitutes accounting, legal, regulatory, tax or other advice. This fact sheet is not intended as an offer, recommendation, solicitation, or advice to purchase or sell any investment product, securities or instruments. Although reasonable care has been taken to ensure the accuracy and objectivity of the information contained in this fact sheet, UOB and its employees make no representation or warranty, whether express or implied, as to its accuracy, completeness and objectivity and accept no responsibility or liability for any error, inaccuracy, omission or any consequence or any loss or damage howsoever suffered by any person arising from any reliance on the information in this fact sheet.
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