Singapore

Operating a business

Setting up a company

Legal business entities

Different types of companies	Number of partners/shareholders	Maximum and/or minimum capital	Liabilities	Registration fees
Company Limited by Guarantee.	Minimum 2.	No minimum capital.	Liability is limited to the amount of guarantees	They vary according to the capital amount. About SING$ 600
Company Limited by Shares and Guarantee.	Minimum 2.	No minimum capital.	Liability is limited to the amount of guarantees	Minimum SING$ 1200. Maximum SING$ 35000.
Private Company or Sendirian Berhad (Sdn Bhd)	Minimum 2. Maximum 50 shareholders.	No minimum imposed by the law, in practice, capital is SING$ 25,000	Liability is limited to the amount contributed.	Minimum SING$ 1200. Maximum SING$ 35000.
Public Company or Berhad (Bhd)	No minimum	No minimum capital.	Liability is limited to the amount contributed.	Minimum SING$ 1200. Maximum SING$ 35000.
General Partnership	Minimum 2. Maximum 20	No minimum capital.	Liability is unlimited.	About SING$ 600.
Limited Partnership	Minimum 2. Maximum 20.	No minimum capital.	At least one person has an unlimited liability. Other partners' liability is limited to the amount they contributed.	About SING$ 600.
Sole Proprietorship	1 only person.	No minimum capital.	Liability is unlimited.	About SING$ 600.
Unlimited Company	Minimum 2.	No minimum capital.	Liability is unlimited.	About SING$ 600.

Business setup procedures: The company's founders in Singapore have to register the company's name and pay registration fees. Investors have then to register their company with the Registry of Companies and Businesses (RCB) which delivers a registration certificate.
The competent organization: Registry of Companies and Businesses (RCB)

Working conditions

Legal weekly duration: 8 hours per day and 40 hours per week with one-hour lunch break.
Retirement age: 62 years
Working contracts: However the nature of contract depends on the type of contract which could be of following types: Annual hours contract, casual workers contract, fixed-term contract, home-workers contract, job sharing contract, flexi-time contract, part-timers contract, self-employed workers contract.

Cost of labor

Minimum wage

Singapore has no minimum wage law.

Average wage

Approximately US$ 22000 per year.

Social contributions

Social security contributions paid by employers: For non-government employees: 14,5% to 5% (depending upon age)

For government employees: 10,875% to 3,75% (depending upon age)
Social security contributions paid by employees: For non-government employees: 20% to 5% (depending upon age)

For government employees: 15% to 3,75% (depending upon age)

Social partners

Bargaining power

Trade Union Act does not allow the unionization of government employees and uniformed personnel. The act also restricts the Trade Unions' right to select the leader and whom to employ.

Most of the Trade Unions are part of National Trade Union Congress (NTUC) which is closely associated to the government. The government grants renewable licenses to trade unions on yearly basis and strictly controls them.

Unions

National Trade Union Congress (NTUC)

Unionization rate

25 % (Approximately)

Labor regulation bodies