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Singapore is a city-state with an area of only 724.2 square kilometers. According to the 2019 Population Brief released by the Policy and Strategy Department of the Prime Minister's Office of Singapore, as of June 2019, the total population of Singapore reached 5.7 million, including 3.5 million citizens, 530,000 permanent residents and 1.68 million non-residents, including nearly 690,000 work permit holders. There are nearly 290,000 family permit holders and about 250,000 foreign domestic helpers. Singapore has a high literacy rate (96.5%), high home ownership rate (90.5%), low crime rate (549 crimes per 100,000 population), and low unemployment rate (about 2%, close to full employment). Singapore has a subtropical climate, with temperatures ranging from 25 to 32 degrees Celsius, abundant rainfall and high humidity. Singapore is one of the 10 members of the Association of Southeast Asian Nations (ASEAN) and a member economy of the Asia Pacific Economic Cooperation (APEC).
Strategic Advantage
Advantages of Singapore as an International Trade platform for Chinese EnterprisesThe economy is open and trade is free.Double Taxation Avoidance Agreement (DTA)
To date, Singapore has signed 86 double taxation avoidance agreements with other countries to help companies avoid double taxation and reduce withholding tax.Bilateral Free Trade Agreement (FTA)
Singapore has signed 23 bilateral (or multilateral) free trade agreements with major economies in the world, including major economies such as the US/EU/China, to help businesses explore markets.Investment Guarantee Agreement (IGA)
Singapore has signed a total of 42 investment protection agreements, which provide protection and guarantee for Singapore enterprises to invest and operate in the countries under the agreement and reduce investment risks.Free Trade Agreements (FTAs)
Singapore has 23 regional and bilateral free trade agreements. Through free trade agreements, Chinese enterprises can enjoy many preferential policies in import, export and investment.Excellent Infrastructure
Singapore's excellent infrastructure and geographical location provide comprehensive services for the global business development of Chinese enterprises.Low Financing Cost
Singapore has convenient financing and relatively low financing cost. The interest rate of trade financing is lower than 2%.Advantages of Singapore as a cross-border investment platform for Chinese Enterprises• Singapore has no exchange controls, other than anti-money laundering laws;
• Singapore has 23 regional and bilateral Free Trade Agreements (FTAs) that allow Chinese companies to tap into international markets through Singapore's multiple trading networks;
• Singapore has more than 80 comprehensive Double Tax Avoidance Agreements (DTAs) that give Chinese companies a tax advantage in Singapore;
• Singapore has 42 IIA – Investment Guarantee Agreements;
• Income earned overseas is sent back to Singapore in the form of dividends, which are tax-free if certain specified conditions are met;
• Singapore has no capital gains tax or capital gains tax.Investment Opportunity
Singapore is one of the world's leading petrochemicals centres, with a world-class complex on Jurong Island Petrochemical hub, with more than 95 of the world's largest oil, petrochemical and specialty chemical companies operating on the island.Singapore is the world's busiest logistics hub, with 17 of the top 25 global third-party logistics companies (3PLs) setting up bases here. Singapore is also the world's busiest container re-export port, with 200 shipping companies linking it to 600 ports in 123 countries. Singapore's Changi Airport has strong air capacity and currently serves more than 100 airlines.Singapore is a world pioneer in the ICT industry. More than 80 of the world's top 100 software and IT services companies already have operations in Singapore. Over the past few years, a number of leading digital media companies have set up shop here, including Japanese video game company Koei, Lucas Film, Electronic Arts and Ubisoft, Europe's largest game studio.Singapore is Asia's first choice for life and leisure experimentation. The top ten global consumer goods companies have set up regional headquarters in Singapore; The top five global fragrance and fragrance companies all position Singapore as the R&D and manufacturing base in Asia; Christie's and Sotheby's, two of the world's largest auction houses, Have set up Southeast Asian art centers in Singapore.Download the documentation for more details