Doing Business in Singapore
Published on 09/04/2020 DOING BUSINESS IN SINGAPORE Brought to you by: KNAV Services LLP, Singapore specialises in assurance (external and internal), taxation, international transfer pricing, valuation and business advisory services. Allinial Global is an association of legally independent accounting and consulting firms who share education, marketing resources, and technical knowledge in a wide range of industries. We're independent accounting firms coming together to support the success of independent client companies. We'll go wherever we need in the world to secure the highest quality solutions to our clients' business needs. Allinial Global member firms have the flexibility to find not just a good solution to your business challenges, but the best solution for you - whether it's locally or internationally. Doing Business in Singapore Introduction CAPITAL: SINGAPORE POPULATION Total Population: 5,638,676 Natural Increase: 0.5% Density: 7,953 Inhabitants/km² Urban Population: 100.0% Population of main cities: Singapore is a city state (5,469,700) Ethnic Origins: About 74% of Chinese origin, 13% of Malay origin, 10% of Indian origin and 3% of other origins. (Statistics Singapore) Official Language: English, Mandarin Chinese, Malay, Tamil. Other Languages Spoken: Hakka, Cantonese, Teochew, other Chinese dialects. Business Language(s): English is the most commonly spoken language. It unites the different ethnic groups and business community. Religion: Buddhism, Islam, Taoism, Hinduism, Christianity and other religious communities, including Jews, Sikhs, Jains, etc. National Currency: Singapore Dollar (SGD) COUNTRY OVERVIEW Area: 719 km² Type of State: Singapore is officially a Republic based on parliamentary democracy. Type of Economy: High-income economy.
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