Page 6 - Doing Business in Singapore
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OVERVIEW OF SINGAPORE
Singapore’s financial services sector is governed by various Acts and regulations, such as:
Monetary Authority of Singapore Act
The Monetary Authority of Singapore (MAS) Act gives MAS the full authority to regulate the financial services
sector in the country.
Banking Act
The Banking Act regulates banks and related financial institutions and their activities, including the credit card and
charge card business of banks and other institutions, among others.
Securities and Futures Act
The Securities and Futures Act regulates activities and institutions in the securities, futures and derivatives
industry, including leveraged foreign exchange and derivatives trading.
Regulations against Money Laundering and Financing of Terrorism
A member of the Financial Action Task Force, Singapore has established strict regulations to fight money
laundering and the financing of terrorism.
Payment Systems (Oversight) Act
The Payment Systems (Oversight) Act provides for the oversight of payment systems and stored value facilities,
as well as related matters.
For more information on the Acts and regulations above, visit: http://statutes.agc.gov.sg or www.mas.gov.sg
Singapore Quick Facts
2022 Metrics
Land Area 733.1 sq km
Total Population 5.63 million
GDP S$643,546 million
Per Capita GDP S$114,165
Total Trade S$1,365.4 billion
Tourist Arrivals 6.3 million
Foreign Direct Investment in Singapore (2021) S$2,479.0 billion
Source: Singapore Department of Statistics
SINGAPORE’S ATTRACTIVENESS AS AN INVESTMENT DESTINATION
Singapore’s position as an attractive destination for foreign investors is due to factors such as:
▪ Political and Economic Stability ▪ High Literacy Rate
▪ Corporate Governance and Transparency ▪ Extensive Network of Trade Agreements
▪ Pro-business Environment ▪ Excellent Connectivity and Infrastructure
▪ Competitive Tax Rates ▪ Relatively Hassle-free Immigration
▪ Robust Intellectual Property Regime Processes for Foreign Investors
Doing Business in Singapore
