April 3, 2015
Singapore is a city, state, and country located in Southeast Asia and is officially the Republic of Singapore. The city-state and island country lies off the southern tip of the Malay Peninsula. The country comprises the main island and approximately 50 smaller islands. The main island is linked to the southern tip of Malaysia by a causeway and bridge. Being a country that consists of multinational communities, Singapore has varieties of languages. English is the official language for business and education.
Singapore was once a British colony. Its laws and customs have their roots in the British system combined with Chinese, Malay, and Indian culture, customs, and practices. Singapore has a blend of 3 races-Chinese, Malay, Indian-living and working in harmony. Singapore is a hi-tech, wealthy city-state, also known for the conservatism of its leaders and its strict social controls.
Singapore is a high-tech English-speaking banking center with sophisticated state-of-the-art banking systems and Internet connectivity. The currency there is the Singapore dollar (SGD) The Singapore dollar (SGD) converts to 0.73 U.S. dollar.
Foreigners and expatriates who wish to work in Singapore are required to possess permitted passes from the Ministry of Manpower (MOM). The work permit passes are varied based on the worker’s situation. Standard passes include working permit, S Pass, Employment Pass, and Personalized Employment Pass. The type of pass granted is based on the candidate’s salary range and their skills and knowledge. Pass holders may apply for permanent resident status if they decided to make Singapore their permanent home.
Singapore’s income tax tables are a graduated scale based on taxable earnings. The tax rates range from 0-21%. Income tax filing is simple, automated, and web-based. There is no income tax deducted from an employee’s monthly salary payments. Employees pay their own income taxes.
There are many choices of accommodation for short term and long term stays available in Singapore including hotels, condominiums, and apartments. Singapore provides one of the most (if not the most) advanced transportation system in Asia including Metropolitan Rail Transportation (MRT), bus, and taxi.
Please read more on Country Fact Pages located on our website. As always, our goal is to continue to make it as easy as possible for Western and European businesses to join-and succeed in the thriving Asia markets, and to expand our clients’ reach, and in turn, help to grow their operations at home.
For questions about Tiger-Consulting’s HR, Payroll, and Business support services in Asia, contact sales@Tiger-Consulting.net Custom quotes are free of charge.
Founder & CEO, Tiger-Consulting