Page 8 - Doing Business in Singapore

OVERVIEW OF SINGAPORE

Extensive Network of Trade Agreements
Singapore has an extensive network of Free Trade Agreements (FTAs) in Asia. These include bilateral FTAs
and ASEAN regional FTAs (refer to “Singapore within ASEAN” section of this guide for more details) with key
economies such as Australia, China, India, Japan and the United States.

Excellent Connectivity and Infrastructure
Singapore is one of the world’s top transportation hubs for sea and air cargoes. Connected to more than 600 ports
in over 120 countries, Singapore is the busiest port in the world in terms of shipping tonnage, with an average of
130,000 vessel calls annually.

Singapore’s Changi Airport is among the world’s busiest international airports, serving more than 100 airlines
that fly to some 400 cities in about 100 countries and territories worldwide. Air freight movements at the airport
totalled 1.23 million tonnes in 2022.

There is also a wide range of state-of-the-art convention centres, exhibition halls and meeting venues in
Singapore for various needs. Some major venues include Suntec Singapore Convention and Exhibition Centre,
Singapore EXPO, and Raffles City Convention Centre.

Relatively Hassle-free Immigration Processes for Foreign Investors
Eligible investors who wish to set up a business in Singapore may apply for the Singapore permanent residence
status through the Global Investor Programme (GIP). For more information about the GIP, visit:
https://www.contactsingapore.sg/gip.

Issued to eligible foreign entrepreneurs who wish to start a new business in Singapore, the EntrePass has a
validity period of up to one year for a new pass or first renewal and two years for subsequent renewals. For more
information about the EntrePass, visit: www.mom.gov.sg.

Contributed by:
RSM
8 Wilkie Road
#03-08 Wilkie Edge
Singapore 228095
Tel: +65 6533 7600
Fax: +65 6538 7600
Email: MKTG@RSMSingapore.sg
Website: www.RSMSingapore.sg

Doing Business in Singapore