Singapore at a glance – October 2022

These emails 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.

October 2022

  1. The basic company tax rate in Singapore is 17%, but some income is exempt from tax.
  2. Singaporean companies must always have one local resident director.
  3. The population of Singapore is nearly 6m – about the 60th highest in the world (out of about 200 countries).
  4. Singapore GDP per capita has typically been in the top 10 in the world.
  5. The total area of Singapore is 728 sq. kilometres (about 280 sq. miles).
  6. Singapore is the only country other than China where the majority of inhabitants are ethnic Chinese.
  7. Singapore does not tax capital gains.
  8. Early Singapore was called ‘Temasek’.
  9. All Singapore companies must have a local company secretary.
  10. The Singapore Companies Act 1967 is similar in very many ways to the Australian Corporations Act 2001 and the UK Companies Act 2006. But with a number of surprising differences.

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. 

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