Singapore Country Resources

Singapore flag

About Singapore

Singapore is one of the world’s most business-friendly economies, offering a stable, transparent, and highly efficient environment for companies to grow. With low corporate taxes, a strong legal framework, and extensive trade agreements, it provides a seamless gateway to Southeast Asia’s fast-growing markets. The city-state is a global leader in financial services, technology, and logistics, supported by world-class infrastructure and a government committed to innovation and digital transformation. Its skilled, multilingual workforce and ease of doing business make it an ideal destination for multinational corporations and startups looking to scale in the region.

Singapore: Country Resources

Currency:

Singapore Dollar (SGD)

Capital:

Singapore

Language:

Malay | Tamil | English | Singaporean Mandarin

Ease of doing Business

Very Easy

Population Size

5.637M

VAT

7% (Goods and Services)

Singapore

Go global in Singapore

Our multinational clients trust us to take care of international payments and compliance for employees, contractors and freelancers working in Singapore.

You can use our Employer of Record (EoR) service to employ your team via our legal entity – onboarding your Top Talent quickly and with ease. 

Experience our world class service – for your business and your team.

We are currently updating our website with our expert local knowledge, please contact us for more info.

FAQ's

Singapore has a variety of public holidays that reflect its multicultural society. National holidays include New Year’s Day (January 1), National Day (August 9), and Labour Day (May 1). Additionally, there are numerous religious and cultural holidays such as Chinese New Year, Hari Raya Puasa (Eid al-Fitr), Deepavali, Vesak Day, and Christmas. Each holiday celebrates the diverse ethnic and religious groups in Singapore, contributing to the country’s rich cultural tapestry.

Salary and compensation in Singapore are governed by several key regulations including the Employment Act, the Employment (Part-Time Employees) Regulations, and the Retirement and Re-employment Act. These laws ensure the timely disbursement of wages, establish minimum entitlements, and provide guidelines for salary deductions and variable payments. The Employment Act mandates that employees must be paid at least once a month and within seven days after the end of the salary period. It also specifies provisions for overtime pay, rest days, and annual leave. Additionally, the Retirement and Re-employment Act requires employers to offer re-employment to eligible employees upon reaching retirement age. Employers must ensure compliance with these regulations to provide fair and equitable compensation for work performed.

  • Annual Leave: A minimum of 7 to 14 days of annual leave, depending on the length of service, as mandated by the Employment Act.
  • Sick Leave: Up to 14 days of paid outpatient sick leave and an additional 60 days of paid hospitalisation leave per year, provided the employee has worked for at least 3 months.
  • Maternity Leave: Up to 16 weeks of paid maternity leave for eligible female employees under the Employment Act and Child Development Co-Savings Act.
  • Paternity Leave: 2 weeks of paid paternity leave for eligible fathers under the Child Development Co-Savings Act.
  • Childcare Leave: 6 days of paid childcare leave per year for parents of children under 7 years old, and 2 days per year for parents of children aged 7 to 12, as stipulated by the Child Development Co-Savings Act.
  • Adoption Leave: 12 weeks of paid leave for mothers who legally adopt a child below 12 months old, under the Child Development Co-Savings Act.
  • Shared Parental Leave: Up to 4 weeks of the 16 weeks of maternity leave can be shared with the father, as long as the mother consents.
  • Unpaid Infant Care Leave: 6 days per year for parents of children under 2 years old.
  • Other Leave: Includes leave for public holidays, bereavement leave, and leave for personal emergencies, though these are typically at the discretion of the employer.

Employers in Singapore must comply with these regulations to ensure fair and equitable leave entitlements for their employees.

Employment in Singapore can be terminated for several reasons, including redundancy, underperformance, misconduct, and illness. Notice or pay in lieu of notice is generally required unless termination is due to misconduct. In cases of misconduct, termination must follow a disciplinary process that includes an investigation and a chance for the employee to respond to the allegations. Additionally, employees on medical leave or maternity leave are protected from dismissal during their leave period, and termination must not contravene the Employment Act or other relevant legislation.

Work Injury Compensation Insurance: Required for all employers to cover employees who suffer injuries or diseases arising from their work. This insurance provides compensation for medical expenses, loss of income, and other related costs.

Employees’ Compensation Insurance: Employers are mandated to provide coverage for employees who are injured or become ill due to work-related reasons. This insurance covers medical expenses and loss of income.

Central Provident Fund (CPF): While not insurance, it is a mandatory savings scheme where both employer and employee contribute to the CPF, which provides for retirement, healthcare, and housing needs.

There are no specific mandatory gratuity insurance requirements as in some other countries, but CPF contributions are a key component of employee benefits.

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