Singapore has one of the highest rates of literacy in the world and there is a continuous demand for high quality publications ranging from newspapers, magazines, periodicals, and books.
Moreover, factors such as a strong IP protection regime, ease of business set up, and availability of human resources makes it an ideal hub for the publishing industry. As a result, Singapore is a thriving hub for both international as well as home-grown publishing companies. Some notable industry players that have set up operations in Singapore include Reed Elsevier, McGraw-Hill Education, Cambridge University Press and local big wigs such as World Scientific Publishing, Marshall Cavendish, and SPH Magazines.
Singapore Tourism Board (STB) forecasts tourism receipts to be in the range of S$22.0 to $22.4 billion (0 – 2%) and international visitor arrivals in the range of 15.2 to 15.7 million (0 – 3%) for 2016.
Global economic growth may be hampered by the slower growth momentum of the Chinese and US economies as well as uncertainties such as ongoing reforms in China and the impact of the normalisation of the US monetary conditions. Increasing regional competition will also pose challenges to Singapore’s tourism sector.
Given the attractive and lucrative business potential this sector has to offer, increasing number of individuals and foreign institutions are striving to tap the market by setting up academic or non-academic private schools, kindergartens/nurseries, childcare centres and other related services.
With the aim of streamlining the education industry and its diverse players, the Singapore Government has laid down certain regulations and statutory requirements for entrants to this sector. Overall, Singapore schools offering private education are classified into the following broad groups
The import of certain “sensitive” goods into Singapore are subject to the control of Controlling Agencies and are known as controlled goods. This article provides an overview of the licensing requirements for importing controlled goods into Singapore.
The following goods are subject to control by relevant authorities in Singapore and require an import permit or authorization from the relevant government agencies. According to the Singapore Customs Department, a broad list of controlled goods includes the following
The construction industry is one of the key pillars of Singapore’s economy. The country has witnessed a strong construction demand over the last few years owing to large scale public sector projects such as the construction of MRT lines, public housing projects, building of business parks as well as private sector projects such as the construction of private residential property, shopping malls, hotels, etc.
According to official figures, there was a 20% y-o-y increase in Singapore’s construction demand from S$27.2 billion in 2016 to S$27-34 billion in 2016. The authorities anticipate a total construction demand in the range of S$27.2 billion to S$27-34 billion for the year 2016.
The spa industry is an important part of Singapore’s health and wellness sector and is one of the few businesses to have demonstrated resilience during the economic crisis. Singapore’s spa industry is reported to be valued at S$140 million a year and this figure is growing year-on-year. Record high tourist arrivals and the growing affluence of individuals has given an impetus to the spa industry in Singapore.
Spa-goers are loosening their purse strings and are spending thousands of dollars on exotic treatments and multiple-treatment packages. Singapore’s spa market not only caters to women but is also seeing a rise in the number of men who are willing to pamper themselves with luxurious treatments.
An employment agency in Singapore is a company that helps other companies with their recruitment and staffing needs, normally acting as the middle party between employer and potential employee.
An employment agency could be engaged in placement of local as well as foreign candidates starting from junior level positions to top-level executives. With Singapore encouraging foreigners from executive and middle-management levels to manual laborers to work in the country, there are numerous small and big placement agencies and head hunting firms to help Singapore companies meet their staffing needs.
Retail outlets are shops or stores where business owners sell merchandise directly to consumers. According to the latest retail sales index released by the Singapore Department of Statistics, Singapore’s retail sales excluding automobiles increased 0.3% year-on-year in December 2016.
According to EnterpriseOne, Singapore’s retail sector comprised of 20,300 retailers, 115,500 workers and grossed S$40.7 billion in 2008, the year of the Great Recession. This article provides information on how to setup a retail outlet in Singapore. Kindly note that the information provided here is for general guidance only and is not meant to replace professional advice.
With over 5000 shipping companies contributing about 7% of the GDP, Singapore is a leading International Maritime Centre, connected to more than 600 ports in over 120 countries. Given its reputation as a premier global port, Singapore is the preferred choice for many wanting to establish shipping or maritime business operations.
For most small to medium sized companies, uncertain of the legal requirements, setting up a shipping company is often viewed as a daunting process. This guide acts as a reference, providing you with a starting point on the minimum legal requirements that you need to be aware of while setting up your shipping/maritime business operations in Singapore.
In Singapore, event management is a large industry and it is growing rapidly in step with Singapore’s position as a global business city. Singapore’s reputation as a Top International Meeting City and Top Convention City positions it as a preferred destination for meetings, conventions, exhibitions and other events.
The recent launch of the Integrated Resorts in Singapore is poised to accelerate its attractiveness as a convention location, at par with cities such as Las Vegas. With the government’s vision of expanding its sports, arts and entertainment sectors and its commitment to appropriate infrastructure developments, Singapore’s event management industry is set to become an even larger component of its economy.
Do you wonder how the small city state, has such a dynamic restaurant industry? The avid patronage of the locals, the curious palates of the tourists and the drooling taste buds of expatriates together have made the culinary kaleidoscope all the more colorful.
The favorite hobby of the nation is eating, to be more specific eating out and most of the young Singaporeans do not cook at home hence, a strong market for the restaurant business in Singapore. The market being receptive to a variety of cuisines, enterprising restaurateurs aspiring to launch their food business in Singapore will find the going smooth and safe provided they have an exciting menu, enticing taste and the right price coupled with courteous service.
A Travel Agency is a person or a company that arranges and organizes services related to travel and tours. In Singapore, a Travel Agent is any entity that provides travel and tour packages involving travel by air, sea or land.
Companies that provide transport only (such as taxi firms or trucks that move goods) are not included in this definition. This article provides you with a guide on how to start a travel agency and obtain a travel agent’s licence in Singapore.
The real estate market in Singapore has witnessed unprecedented growth in recent times. As a result, the real estate agency sector is fast emerging as a lucrative business option.
Under the current legislation, all real estate agencies must obtain a license from the Council of Estate Agencies (CEA) prior to commencing estate agency work, either for local or foreign properties, in Singapore. Individuals carrying out estate agency work in Singapore must be registered with the CEA through the estate agency that they work for.
The island state of Singapore boasts of a vibrant Food and Beverage (F&B) sector which constitutes more than 4,500 establishments and employs more than 70,000 staff.
Needless to say that this is a crucial element of the economy which actively promotes the travel and tourism industry. Singapore has a vast variety of F&B establishments to suit every pocket and palate. As part of establishing the city-state as the gastronomic capital in the region by 2010, the government of Singapore and the agencies governing the food industry are keen on promoting a flourishing industry where the spirit of innovation, process, and safety standards are constantly improved while the quality of service exhilarates the customers.
This information provides a detailed overview of company registration requirements, procedure, and timeline for registering a company in Singapore.
As with most other jurisdictions, Singapore has a set of initial and ongoing regulatory compliance requirements for starting and operating a company. Therefore, both local as well as foreign entrepreneurs are advised to engage the services of a professional firm for this purpose. When considering the registration of a new company or relocation of your existing company to Singapore, note that most Singapore companies are registered as private limited liability companies (commonly known as private limited companies).
Factors such as free enterprise, minimal restrictions on the import and export of goods, clean governance, attractive tax incentives, robust infrastructure, extensive free trade agreements and sophisticated logistics have contributed to the nation’s success in emerging as a centre for international trade.
With a vision to transform international trading activities to new heights, Singapore launched the Global Trader Programme (GTP) in June 2001 – an initiative that encourages global trading companies to choose Singapore as their regional/global base of operations, by providing concessionary rates of tax.
Singapore has long been known as an important ‘port of call’ for traders, especially those dealing between the eastern and the western time zones. According to the latest statistics by the World Trade Organization, Singapore is the 14th largest merchandise exporter in the world and has a trade to GDP ratio of 404.9.
If you plan to incorporate a Singapore trading company and start an import/export business, this guide will serve as a good starting point. About 3000 international and local logistics and supply chain management companies operate in Singapore.
When considering the registration of a new company or relocation of your existing company to Singapore, note that most Singapore companies are registered as private limited liability companies (commonly known as private limited companies).
A private limited company in Singapore is a separate legal entity and shareholders are not liable for the company’s debts beyond the amount of share capital they have contributed (hence the term limited liability). According to the Singapore Companies Act, any person (foreign or local) above the age of 18 can register a Singapore company.