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Invest FAQs ? how can i do ?what can i do it?

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date:Aug 08,2012 source: editorial staff:linan clicks:

 
How do I set up a business in Singapore?
Setting up a business in Singapore is easy. All businesses must be registered with the Accounting and Corporate Regulatory Authority (ACRA). Visit our Investors section on Doing Business in Singapore to find out all about registering your business, finding premises and recruiting talent for your company
 
What kind of government assistance and incentives are available?
The Singapore Economic Development Board (EDB) has a comprehensive list of incentive and development schemes to assist companies, including various financial and tax incentives. Young start-ups can approach SPRING Singapore which offers start-ups assistance in financing, capabilities and management development, technology and innovation, and access to markets.
 
How does Singapore select which industries to provide incentives to?
The Singapore Economic Development Board (EDB) has a comprehensive list of incentive schemes for companies. The evaluation is done based on the merits of the project and the strength of the application.
 
What sources of venture capital is available in Singapore?
Which organizations can I approach? There is a growing base of venture capital firms in Singapore. For a listing of venture capital firms in Singapore, you could refer to the Investor Relations Asia Pacific website.
SPRING Singapore also administers several schemes which provide government funding for seed capital. They include:
•SPRING Start-up Enterprise Development Scheme (SPRING SEEDS) – Dollar-for-dollar matching funding of up to S$1million, to be matched against investments third-party investor(s). The minimum third-party investment must be S$75,000
•Technology Enterprise Commercialisation Scheme (TECS) – a competitive grant to convert breakthrough technology ideas and proprietary IP into a promising business. The TECS is a competitive grant in which proposals are ranked based on the evaluation of both technical and commercial merits by a team of reviewers, and the best are funded. 
•Proof of Concept (POC) - For applicants who wish to develop proprietary ideas at conceptualisation stage - Up to 100% of qualifying costs for each project will be supported, up to maximum of S$250,000.
•Proof of Value (POV) - For applicants who are keen to carry out further research and development on a technology project, including the development of a working prototype - Up to 85% of qualifying costs for each project will be supported, up to maximum of S$500,000
 
What are the Free Trade Agreements (FTAs) Singapore has?
Singapore has 18 FTAs in place, covering key economies that represent about 60% of the global GDP. For the full list of FTAs, visit the Singapore FTA Network.
 
As an employer, what do I need to take into account for the remuneration of employees?
In addition to salaries, you will need to contribute towards your employees’ Central Provident Fund (CPF) accounts if they are Singaporean citizens or Permanent Residents. The CPF is a compulsory social security savings scheme that employers and employees contribute to. It is applicable only to Singapore citizens and Permanent Residents. Click here for more FAQs on CPF.
The current rate for employer’s contribution for employees aged 50 and below is at 16%. The employer’s contribution is capped at SGD 5,000 of the employee’s salary. Medical benefits are at the discretion of the employer, although insurance might be compulsory for certain high-risk occupations.
 
Will a small company be disadvantaged in terms of sponsoring Employment Passes (EPs) for its foreign employees?
No, it will not. There is no quota on the number of Employment Passes (EPs) a company can employ, and each EP application is assessed on its own merit.
 
Is there capital gains tax for companies in Singapore?
Capital gains are not subject to tax in Singapore.
 
How do I wind up my business and what implications should I be aware of?
To close down a company in Singapore, the relevant authorities such as the Accounting and Corporate Regulatory Authority (ACRA), Central Provident Fund (CPF), Inland Revenue Authority of Singapore (IRAS) and licensing bodies would need to be notified. Please refer to the ACRA website for details on the necessary documentation needed for winding up a business in Singapore.
 
What is the Global Investor Programme (GIP)?
The GIP is a scheme administered by Contact Singapore that helps ease the way for foreigners to set up businesses in Singapore. Under the scheme, foreigners can be considered for PR status if they invest a minimum sum in investment vehicles that focus on economic development.
 
How long would I have to invest in GIP-approved funds after getting PR?
Upon your investment in GIP-approved funds, Contact Singapore will hold the share certificates in custody for five years.
 
Is it possible to diversify my investment in different GIP funds?
You may select more than one approved GIP VC fund in which to invest. Please note that total investment amount must be S$2.5 million, and each VC fund has a minimum deposit amount.
 

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