The intellectual property legislation in Singapore provides protection for all kind of intellectual work, including trademark which very important for companies that want to ensure the recognition of their products or services, copyrights which refers to the protection of literary work and even computer programs and patents which mainly apply in the industrial sector. Trademark and patent…
The retail industry in Singapore is one of the most developed sectors, accounting for a significant share of the city-state Gross Domestic Product. The number of retail outlets increased significantly during the last few years thanks to the development of the tourism industry. Among the most sold products in Singapore retail stores are electronics, cosmetics, clothing…
Singapore signed its first double tax agreement with Canada in 1976. In order to increase economic cooperation and provide for new advantageous tax conditions to Canadian and Singapore companies, the two states amended their convention in 2011 and enforced in 2012. The following taxes are covered by the Singapore-Canada double taxation treaty: - the income…
Banking - one of the most developed industries in Singapore Singapore is currently one of the most renowned financial center in the world, with a banking industry accounting for more than 10% of the city-state’s Gross Domestic Product. The financial sector employs only a small percentage of the Singapore workforce (approximately 5%) which also makes…
The food industry in Singapore described by our Singapore company formation advisers The food and beverage and the food processing industries are two of the most developed sectors of the Singapore economy as the Government has granted many incentives to foreign investors coming to set up restaurants and other types of establishments here. There are over 4,500 restaurants…
The hotel industry in Singapore The Singapore tourism industry registered a spectacular growth beginning with 2010 and together with it also flourished the hotel industry. Ever since, the hotel and the restaurant sectors registered an 8% growth. Also, in 2015 the number of tourists coming to Singapore reached a record number of 17 million which was a great…
Ways to start a business in Singapore The Singapore Company Law is very flexible with foreign investors allowing them to establish different types of companies or to purchase an already-made company, also known as a shelf company. Each type of company comes with its own advantages and the investor will usually decide upon the entity to use depending…
Singapore has modernized its intellectual property legislation in 1998 when the new Trademark Act was enabled. The new law meets all the requirements of the Paris Convention for the Protection of Intellectual Property. This is not the only international agreement on intellectual property rights Singapore has signed as the city-state wants to provide the best conditions for companies wanting to…
Who needs to file annual returns in Singapore? According to the Singapore Commercial Law, all companies are required to hold an Annual General Meeting of the shareholders and file annual returns with the Inland Revenue Authority (IRAS). The directors of the company are the ones submitting the annual returns (ARs). It is also the directors’ responsibility…
What is a Unique Entity Number of a Singapore company? The Unique Entity Number (UEN) was introduced in 2009 with the aim of facilitating the relations between legal entities and the Singapore governmental authorities. The UEN is a standard identification number and must be obtained by: - Singapore companies; - limited liability partnerships; - societies; - Singapore…
