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Singapore’s Gardens by the Bay

Singapore fact sheet

Singapore's extensive connectivity, competitive workforce, vibrant R&D ecosystem as well as trusted legal infrastructure strengthen its position as a global business hub.

About Singapore

5.8 million

5.8 million

Population size

35.6 years

35.6 years

Median age




Singapore dollar (SGD)

Singapore dollar (SGD)

Currency unit



Internet penetration rate



Mobile penetration rate

Further resources

International Headquarters (IHQ) Award, Pioneer Certificate Incentive (PC) and Development and Expansion Incentive (DEI)

  • Corporate tax exemption or a concessionary tax rate of 5 per cent or 10 per cent, respectively, on income derived from headquarters/qualifying activities.


Finance and Treasury Centre (FTC) Incentive

  • Reduced 8 per cent corporate tax rate on income derived from qualifying FTC services to approved network companies as well as qualifying FTC activities carried out on its account with funds obtained from qualifying sources.


IP Development Incentive

  • Reduced corporate tax rate of either 5 per cent or 10 per cent on a percentage of qualifying IP income derived by it during the incentive period.
  • Concessionary tax rate will also increase by 0.5 per cent at regular intervals.


Global Traders Programme

  • Reduced corporate tax rate of 5 per cent or 10 per cent on qualifying trading income for three or five years.
  • Qualifying trading income includes income from physical trading, brokering of physical trades and derivative trading income.

World Economic Outlook (October 2021); World Bank; UNESCO Institute of Statistics; International Labour Organization: Global Wage Report 2020–21: Wages and minimum wages in the time of COVID-19; Singapore Department of Statistics; Enterprise Singapore; Singapore Economic Development Board (EDB); Inland Revenue Authority of Singapore (IRAS)

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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