Expanding into
Singapore
Expanding into Singapore – which is characterised by a highly-educated and skilled workforce, complex employment and tax laws, a strong infrastructure network linking to the rest of Asia and beyond, and leading sectors in professional services, energy, biotechnology, tourism and medical tourism, and ICT– can bring excitement to the possibilities, but also significant stress to ensuring the entity with the country’s rigorous legal structures and laws.


Get the Support You Need
Global Expansion is a step to make for any business, regardless of your goal. But the opportunities that can come with an expansion can be stimulating as well as intimidating and confusing, especially when you consider all of the registration procedures that need to be done and the documentation required.
Going at it without the proper support can increase the costs, time and risks involved.
The legwork and potential red tape can be worked through more efficiently and cost-effectively with the support of a Professional Employer Organisation (PEO) such as Bradford Jacobs, primarily through our Employer of Record (EOR) framework.
It can be best utilised when businesses are just beginning their expansion process and require more information before incorporating an entity and fully establishing themselves in that market.
Hiring Staff
in Singapore
The economy of Singapore is a highly developed free-market economy. The World Economic Forum has ranked Singapore’s economy as one of the most open in the world (Global Enabling Trading Report, 2012), the 3rd-least corrupt (Corruptions Perception Index, 2018) and the 2nd most pro-business country in the world by the World Bank (Ease of Doing Business, 2021).
Singapore has low tax rates and the second-highest per-capita GDP in the world regarding purchasing power parity (PPP). Alongside the business-friendly reputation, state-owned enterprises play a substantial role in Singapore’s economy. The Asia-Pacific Economic Cooperation (APEC) is headquartered in Singapore.
The Singaporean economy is a significant foreign direct investment (FDI) outflow financier globally. Singapore has also benefited from the inward flow of FDI from global investors and institutions due to its highly attractive investment climate and stable political environment in recent years.
The country’s main exports include electronics, chemicals, and services. Singapore is the regional hub for wealth management. Water is scarce in Singapore, and a sizeable percentage of water is imported from Malaysia; therefore, it is defined as a precious resource.
Singapore also relies on an extended concept of intermediary trade to entrepôt trade by purchasing raw goods and refining them for re-export, such as in the wafer-fabrication industry and oil refining.
One of the five founding members of ASEAN, Singapore is also the headquarters of the Asia-Pacific Economic Cooperation (APEC) Secretariat, the Pacific Economic Cooperation Council (PECC) Secretariat, and is the host city of many international conferences and events. Singapore is also a member of the United Nations, World Trade Organization, East Asia Summit, Non-Aligned Movement, and the Commonwealth of Nations.
In Singapore, small and medium enterprises (SMEs) are defined as companies with a turnover of less than SGD 100 million or employ 200 or fewer employees.
SMEs in Singapore make up 99% of all enterprises and support 72% of total employment. 80% of SMEs are locally owned, whilst 20% are foreign-owned. SMEs also contribute nearly half of Singapore’s GDP (SingStar, 2021).
In 2021, almost 75% of the GDP nominal value added by Singaporean SMEs was by the service industries and the goods-producing industries generated 25%.
The top 3 services industries for SMEs are wholesale trade (9%), finance and insurance (6%) and other service industries (8%), whilst the top 3 goods-producing industries for SMEs are manufacturing (3%), construction (9%), and utilities (2%).
China, USA, Malaysia, Indonesia and Japan
Hiring Staff
in Singapore
Singapore has low tax rates and the second-highest per-capita GDP in the world regarding purchasing power parity (PPP). Alongside the business-friendly reputation, state-owned enterprises play a substantial role in Singapore’s economy. The Asia-Pacific Economic Cooperation (APEC) is headquartered in Singapore.
The Singaporean economy is a significant foreign direct investment (FDI) outflow financier globally. Singapore has also benefited from the inward flow of FDI from global investors and institutions due to its highly attractive investment climate and stable political environment in recent years.
The country’s main exports include electronics, chemicals, and services. Singapore is the regional hub for wealth management. Water is scarce in Singapore, and a sizeable percentage of water is imported from Malaysia; therefore, it is defined as a precious resource.
Singapore also relies on an extended concept of intermediary trade to entrepôt trade by purchasing raw goods and refining them for re-export, such as in the wafer-fabrication industry and oil refining.
One of the five founding members of ASEAN, Singapore is also the headquarters of the Asia-Pacific Economic Cooperation (APEC) Secretariat, the Pacific Economic Cooperation Council (PECC) Secretariat, and is the host city of many international conferences and events. Singapore is also a member of the United Nations, World Trade Organization, East Asia Summit, Non-Aligned Movement, and the Commonwealth of Nations.
SMEs in Singapore make up 99% of all enterprises and support 72% of total employment. 80% of SMEs are locally owned, whilst 20% are foreign-owned. SMEs also contribute nearly half of Singapore’s GDP (SingStar, 2021).
In 2021, almost 75% of the GDP nominal value added by Singaporean SMEs was by the service industries and the goods-producing industries generated 25%.
The top 3 services industries for SMEs are wholesale trade (9%), finance and insurance (6%) and other service industries (8%), whilst the top 3 goods-producing industries for SMEs are manufacturing (3%), construction (9%), and utilities (2%).
China, USA, Malaysia, Indonesia and Japan
The Main Sectors of the Singapore Economy
The country focuses on the following key sectors, which all have a significant impact on the country’s economy:
The Main Sectors of the Singapore Economy
The country focuses on the following key sectors, which all have a significant impact on the country’s economy:

Commercial Laws in
Singapore
Commercial Laws in
Singapore
