KEY ADVANTAGES OF DOING BUSINESS IN SINGAPORE:
- Strategic Location: Singapore is a hub connecting Southeast Asia, China, India, and Oceania, providing access to over 600 million consumers.
- Ease of Doing Business: Singapore ranks among the top countries globally for ease of starting and operating a business, with efficient regulatory processes and low bureaucratic hurdles.
- Political and Economic Stability: Singapore offers a transparent, low-risk business environment with a strong legal framework and stable governance.
- Pro-Business Tax Environment: Competitive corporate tax rates (17%), extensive double-tax treaties, and incentives for foreign companies.
- Innovation and Technology Hub: Access to a highly skilled workforce, world-class R&D facilities, and government programs supporting tech startups and digital transformation.
- Connectivity & Infrastructure: Excellent transport, logistics, digital infrastructure, and world-class ports and airports.
HOW THE CHAMBER CAN HELP:
The Spanish Chamber of Commerce Singapore acts as the bridge for Spanish companies to enter and grow in the Singapore market. We provide:
- Market intelligence & business advice: Insights into regulations, market trends, sector opportunities, and competitive landscape.
- Networking & connections: Introductions to key local partners, government agencies, and other businesses.
- Events & trade missions: Participation in workshops, conferences, seminars, and business missions to Singapore and the region.
- Support in business setup: Guidance on company registration, taxation, permits, and licensing.
- Collaboration with regional institutions: Access to Singapore business associations, EuroCham Singapore, and government programs.
DOING BUSINESS IN SINGAPORE: PRACTICAL OVERVIEW
Company Registration:
- Singapore allows 100% foreign ownership of companies.
- Typical business entities include Private Limited Company (Pte Ltd), branch office, or representative office.
- Company registration is fast and largely digital via ACRA.
Taxation & Incentives:
- Corporate tax rate: 17%, with partial tax exemptions for new companies.
- Double Tax Treaties with over 80 countries.
- Incentives available for technology, innovation, and green projects.
Workforce & Talent:
- English is the main business language.
- Singapore has a highly skilled, multicultural workforce.
- Work visas are streamlined for foreign professionals through the Employment Pass (EP) and S Pass schemes.
Legal & Regulatory Framework:
- Transparent and predictable legal system based on English common law.
- Strong IP protection.
- Efficient dispute resolution mechanisms.