Essay about Business in Singapore

30732 Words Jul 5th, 2013 123 Pages
Doing Business in Singapore

DOING BUSINESS IN SINGAPORE

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CONTENTS
3 4 11 FOREWORD INTRODUCTION - Getting to know Singapore OVERVIEW OF LEGAL ENVIRONMENT - Legal Framework - Handling Civil Disputes - Employment - Immigration - Competition Act - Singapore's Free Trade Agreement (FTAs) STARTING A BUSINESS BANKING RELATIONSHIP IN SINGAPORE - Introduction to the Financial Landscape in Singapore - Banking in Singapore - Business Credit Facilities - Business Protection TYPES OF BUSINESS ORGANISATIONS - Sole Proprietorships and General Partnerships - Limited Liability Partnerships - Limited Partnerships - Companies - Joint Ventures - Foreign Companies - Representative Offices - Incorporating a Company - Annual Requirements for
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DOING BUSINESS IN SINGAPORE

a. Gross Domestic Product (GDP)
The diagram below illustrates the GDP contribution generated by each sector in 2010.

b. Singapore Trade Performance
Singapore’s high dependency on external markets and suppliers propels Singapore towards economic openness, free trade and free markets. Entrepot trade is largely practised in the economy of Singapore as exports are major source of revenue in Singapore economy, particularly in integrated circuits, information technology products, and refined petroleum products. Singapore government encourages outward orientation, thus no protectionist measures and barriers are implemented to the free flow of goods in and out of the country. About 99% of goods imported into Singapore are duty-free. Singapore’s top trading partners for 2010, and their respective share of its total trade, are shown in the chart below.

Singapore’s Key Trading Partners 2010
Share of Total Trade By Top Trading Partners (%)
Others 12.2% Malaysia* S$106.6 billion (11.8%)

Australia S$21.8 billion (2.4%) Philippines* S$22.3 billion (2.5%) India S$30.7 billion (3.4%) Thailand* S$31.3 billion (3.5%) Middle East S$36.3 billion (4.0%) Taiwan S$42.7

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