Singapore is an island, one state, one town: neat and clean like a little Switzerland of Southeast Asia. After independence in 1965, leaving the English yoke then distancing himself from the Malaysian Federation, the country decided to maximize its outstanding market position in the Strait of Malacca. And developing certain values to their paroxysm: economy, security, cleanliness, materialism. The city is now considered the most expensive in the world.
Official Name: Republic of Singapore
Type of government: Parliamentary unicameral
Head of State: Mr Tony Tan, President of the Republic (since August 2011)
Head of government: Lee Hsien Loong, Prime Minister (since 12 August 2004).
Area: 716 km²
Capital: Singapore (Singapore is a city-state)
Official languages: English, Mandarin, Malay, Tamil
Current language: English
Currency: Singapore dollar (SGD)
National Day: August 9
Singapore is situated at the entrance of the Straits of Malacca, on the southern tip of the Malay Peninsula, which is separated by the Straits of Johor. Its area of 716 km² is divided between a main island about 42 km (east-west) about 23 km (north-south) and about sixty islands, about twenty uninhabited.
Separated from Malaysia by the Straits of Johor, barely a kilometer wide, it is connected to the mainland by a road and rail embankment, the “Causeway”, and a bridge at Tuas. In the south, the Singapore Strait separates the Indonesian Riau Archipelago. The highest point of the island, the Bukit Timah Peak, is 165 meters above the level of the sea.
The city-state has an equatorial climate, hot and humid all year round (average temperature around 30 ° C). It rains frequently there, the most precipitation falling between October and February (North East monsoon). The time difference is 7 hours in winter and 6 in summer. A decision of the 2008 International Court of Justice has recognized Singapore’s sovereignty over the islet of Pedra Branca / Pulau Batu Puteh located at the entrance of the South China Sea. See the website of the House of Foreigners and the site Travel advice
Population: 5.4 million inhabitants
Density: 7,540 h / km²
Population growth: 1.6%
Life expectancy: 81.2 years
Literacy rate: 96.1%
Religions: Buddhism, Taoism, Islam, Christianity, Hinduism
Human Development Index: 0.895 (18th ranking UNDP 2013)
GDP: 307.1 billion USD in 2014
GDP per capita: 55 182 USD in 2013
GDP PPP per capita: 77 000 USD
growth rate: 3% in 2014 (projected growth between +2 and + 4% in 2015)
Unemployment rate: 2%
Inflation rate: 1%
Budget balance: deficit of 0.13 billion SGD 0.03% of GDP in 2014
trade surplus 28 billion USD
Major customers: Malaysia, China, Hong Kong
Main suppliers: China, Malaysia, USA
Share of main sectors in GDP (2012):
industry: 24% (manufacturing and construction)
Services: 66% of which financial activities and business services (26.7%) and logistics and communication activities (26.8%)
Exports from France to Singapore: 5 billion EUR in 2014
French imports from Singapore: 2.8 billion EUR in 2014
trade surplus for France: 2.2 billion EUR in 2014
Amount of total trade, 7.8 billion EUR in 2014
Market share in France: 2.2% in 2013
(Sources: DGTRésor, Ubifrance, Department of Statistics, Singapore)
See the website of the Directorate General of the Treasury
Consular Section of the Embassy of France in Singapore
French community in Singapore: 11722 8 April 2015 (doubling since 2007)
Singaporean community in France: 400 persons on a voluntary basis with the MFA
Main income sources
Strengths / weaknesses
– With France
Barriers to entry
Source : www.diplomatie.gouv.fr
Good to know
The Singapore dollar (ISO 4217: SGD) is the currency of Singapore since the end of the monetary union between Malaysia, Singapore and Brunei in 1967. The Monetary Authority of Singapore has ensured its stability since 1971. In 2012, the total currency in circulation was 29 billion Singapore dollar. External assets in its Currency Fund backs all issued Singapore currency in circulation to maintain public confidence.
The Euro to Singapore dollar exchange rate converts at 1.54 on May the 30th, 2016.
Where to go?
How to settle there?
To do business
Personal income tax
Singapore applies a progressive rate:
|Chargeable Income (SGD)||Income tax rate (%)||Gross tax payable (SGD)|
|First 20,000 $
Next 10,000 $
|First 30,000 $
Next 10,000 $
|First 40,000 $
Next 40,000 $
|First 80,000 $
Next 40,000 $
|First 120,000 $
Next 40,000 $
|First 160,000 $
Next 40,000 $
|First 200,000 $
Next 120,000 $
|First 320,000 $
Above 320,000 $
Corporate Income Tax
Singapore applies a flat rate of 17 % on the companies taxable income.
Tax exemptions are offered.
Start-up companies are exempted from tax
– on the first 100,000 $
– 50 % on the next 200 000 $
This is valid for three years.
All companies may receive a partial tax exemption:
– 75 % on the first 10,000 $
– 50 % on the next 290,000 $ of chargeable income
Furthermore to support the increasing cost of business, all companies will be granted a rebate of:
– a 30 % rebate up to a maximum of 30,000 $ for the year 2015
– a 50 % rebate up to a maximum of 20,000 $ for the years 2016 and 2017
GST (Goods and Services Tax)
The current GST rate is 7%.
It applies to almost all transactions and on imported goods.
Registration to GST is mandatory for all activities generating over one million Singapore dollars per year.
Exemptions to GST:
- Sale and rental of unfurnished houses
- Financial services
Taxes on properties
Properties are taxed at an estimated rental value. They are subject to a progressive rate from 0 to 16 %.
|Type||In service||On order|
|Gulfstream G550 (AEW)||4|
|KC 130 B/H||5|
|KC 135 R||4|
|AH 64 D||17|
|S 70 (Marine)||6|
(Source : https://flightglobal.com/)