An Introduction to Doing business in Singapore 2021 - Preview

6 AN INTRODUCTION TO DOING BUSINESS IN SINGAPORE 2021 Table of Contents Preface 04 Part 1 | Corporate Establishment and Set-Up Process 07 What are my options for investment? 08 Business structures 09 Digital banking services 15 Fast track patent program 17 Solving legal disputes 19 Singapore’s free trade agreements 20 Part 2 | Singapore’s Tax Regime 25 Corporate taxation 26 Transfer pricing 31 Tax incentives for setting up a business 33 Singapore’s DTA network 44 Part 3 | Human Resources 47 Employment Act 48 Important amendments to the Employment Act 49 Employee leaves and vacations 53 Employment permits 55 Global Investor Program 65 SGUnited jobs and skills package 69 Social insurance 72 Termination of employment 73 Part 4 | Audit and Compliance 75 Auditing and compliance requirements 76 Accounting standards 78 Annual reports 79 Penalties for non-compliance 80