AsiaBiz Services

Singapore’s importance as an international maritime center is growing in importance with the economic center of gravity shifting towards east and the resultant spike in trade volumes.Singaporehas a strategic location along the confluence of major global shipping routes and is a world leader in terms of shipping container volume.Singaporegovernment also extends very attractive incentives to [...]

“ACRA’s new guidebook for company directors will enlighten the aspiring directors as well as existing company directors on their statutory obligations and streamline the compliance measures. This will become an indispensable handbook for all entrepreneurs in Singapore,” Says Rikhil Bakhda, of  Asiabizservices Pte. Ltd., a Singapore based and corporate services agency.” Accounting and Corporate Regulatory [...]

Even when half the world crumbles during the 2008 global economic crises, Singapore’s stability remains unperturbed though its economic growth slowed at 1.1% rate following the global economic sluggishness of the same year. In 2009, the government implemented a resilience package amounting to S$20.5 billion to help Singaporean residents and citizens retain their job and [...]

Among the different business structures allowed to incorporate in Singapore, the is deemed the most popular. Stipulated on the Companies Act, a limited company may be limited by guarantee or shares. It is registered as a private should it compose of not more than 50 shareholders and if in its Articles of Associations, the right [...]

Incorporating a company in Singapore provides several advantages especially when it comes to taxation and the limit on business-related liabilities and debts.  However, it is important to note that this business entity has also some disadvantages which must be considered. Here’s a rundown of the advantages and disadvantages of Singapore company  incorporation, according to AsiaBiz Services, [...]

The rental rates for residential units are scaling the peaks in property prices, with rents for condominiums boosting a price hike of 5.8 per cent over the first half of 2010. The Urban Redevelopment Authority (URA) has release data showing the surge in median rentals of non-landed residential properties to $32.41 per square metre (PSM) [...]

Research firm IDC has projected that the Singapore government’s spending for information and communication technology (ICT) is set to grow by 3.5 per cent annually to US$1.5 billion (S$2.1 billion) in 2003. The Infocomm Development Authority of Singapore (IDA) added that it has plans to invest S$1.1 billion in about 350 ICT tenders for this [...]

The Government will refine and tighten the current processes of granting and citizenship to foreigners, in response to growing concerns by segments of the Singaporean population over the dramatic increase in the inflow of immigrants. Deputy Prime Minister Wong Kan Seng said the Government has recently reviewed its immigration policies and will refine the criteria [...]

Lynette Khoo once again in her article “Where One Director wears Three Committee Hats” which appeared in the Straits Times May 11th 2010 reviewed the pros and cons of directors sitting in more than one or three committees. According to a study conducted by Singapore Management University, close to one quarter of Singapore listed companies [...]

General Personal tax Information – for Individuals (Foreigners): The amount of income tax that you have to pay depends on your tax residency in Singapore. Top marginal resident tax rate of 20% kicks in at S$320,000 of taxable income.  Non-residents are taxed at the flat rate of 15% or the resident rates whichever results in a [...]