These 10 points are designed for those investing into Singapore and those who have plans to do so. We aim to keep the points short and sweet, and to merely list snippets of relevant but easy to read information.
June 2025
- There will be no hard cap on how long a migrant worker can work in Singapore from 01 July 2025. Currently, work permit holders can be employed here for a limit of 14 to 26 years – this limit will be removed.
- Singapore company law is strongly based on English/UK company law. In that sense is resembles the company law of other common law jurisdictions such as Australia, Malta, Cyprus, Hong Kong, New Zealand and many other jurisdictions.
- Non-Singaporean sourced income can be exempt for tax in Singapore – for Singaporean resident individuals and companies.
- Singapore was under British colonial rules for 144 years, starting from 1819 when Sir Stamford Raffles founded modern Singapore.
- Malaysia vs Malaya and where does Singapore fit in? Malaya refers to the Malay Peninsula, once being several British-controlled states. It gained independence in 1957 as the Federation of Malaya. Malaysia was formed in 1963 when Malaya, Singapore, Sabah, and Sarawak united to create a new country. However, Singapore separated and became an independent nation on 09 August 1965.
- The primary Singaporean tax legislation is the Income Tax Act 1947. In 1947 Singapore was not an independent nation – it was then still a British Crown Colony.
- Singapore has a beneficial ownership register, designed to aid in combating money laundering. Its purpose is to list the persons ultimately controlling Singapore entities. Officially termed: the Register of Registrable Controllers (RORC).
- Companies must maintain an updated RORC. The beneficial owners are known as Controllers. It is only available to law enforcement agencies.
- Singapore has an extensive network of comprehensive double tax treaties – with about 90 countries.
- Foreign dividends received in Singapore by resident individuals, except those received via a partnership in Singapore, are tax-exempt.
This message is not given in the form of an opinion, legal opinion or tax advice. If any of the information provided is of interest or relevance to you or your company we would strongly recommend you contact us or another qualified professional for specific advice.