Confidus Solutions logotype

Confidus Solutions

Singapore

The ISO code of Singapore is SG according to the ISO 3166 standard. The local name of the country is the same as its English name. Singapore capital city is Singapore. People in Singapore speak the English, Tamil, Malay, and Standard Mandarin languages. On 31 August 1963, Singapore emerged as a sovereign political entity. In the year 08/31/1963, Singapore emerged as a sovereign political entity. The largest city in Singapore is Singapore.

Singapore is located in the UTC +08:00 time zone, which is also called Singapore Standard Time or SST. The internet country code top-level domain (ccTLD) for Singapore is .sg. Other domains assigned to Singapore are .新加坡, .சிங்கப்பூர், .asia. The International dialing code for Singapore is 65. People in Singapore drive on the left side of the road. Total land area of Singapore is 697 km² (approx. 269 mi²). Singapore is not a landlocked country. It means that is is bordered by at least one major body of water.

A view in Singapore

Singapore is located in Asia. Singapore is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.

Currently Singapore faces various issues, including industrial pollution, limited natural fresh water resources, limited land availability presents waste disposal problems, seasonal smoke/haze resulting from forest fires in Indonesia.

Doing business in Singapore

We offer various corporate services in Singapore jurisdiction. These services can serve both, people coming from Singapore and foreigners. If you plan on doing business in Singapore you might be interested in contacting us.

To find out about starting your business in Singapore click on company formation in Singapore.

To find out how to open a bank account in Singapore and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Singapore.

Choose preferred service below or continue reading to find out more about Singapore.

Company formation Bank account (Corporate)Available banks Bank account (Private)

Demographics of Singapore

The total population of Singapore is 5,791,901 people. In Singapore, the population density is 7697 people per square kilometer (20,023 per square mile). Because of this statistic, this country is considered to be very densely. The ethnic diversity is diverse according to a fractionalization scale which for Singapore is 0.3857. Singapore has approximately 2543638 foreign immigrants. The median age is approximately 33.8 years. In Singapore, 74.18 in every 100 people use internet. Singapore has a Human Development Index (HDI) of 0.901.

The majority religion of Singapore is Buddhism, Singapore is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Singapore.

Culture of Singapore

People in Singapore speak the English, Tamil, Malay, and Standard Mandarin languages. According to data on inbound tourists in Singapore, 11,899,000 tourists arrive in the country each year. The first McDonalds in Singapore was opened on 20 October 1979, and it was located in Liat Towers, Orchard Road. One of the most popular national dishes of Singapore is chilli crab. To read more click on culture of Singapore.

Geography of Singapore

Singapore is considered to be a large nation because of its total area. Its total land area is 697 km² (approx. 269 mi²). Singapore is located in Asia. Its capital city is Singapore. Singapore has no land borders.

The highest point of Singapore is Bukit Timah, with its official height being 164 m (538 ft). Including land mass and EEZ, the total area of Singapore is approximately 1,764 km² (~681 mi²). The most notable natural resources found in Singapore are fish, deepwater ports.To read more click on geography of Singapore.

Economy of Singapore

The currency of the country is Singapore dollar. The symbol used for this currency is $, and it is abbreviated as SGD. 2% of population in the country are unemployed. The total number of unemployed people in Singapore is 115,838. Each year, Singapore exports around $410.3 billion and imports roughly $373 billion. The Gini Index of the country is 46.4. Singapore has a Human Development Index (HDI) of 0.901.The Global Peace Index (GPI) for Singapore is 1.49. Singapore is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are electronics, chemicals, financial services, oil drilling equipment, petroleum refining, rubber processing and rubber products, processed food and beverages, ship repair, offshore platform construction, life sciences, entrepot trade.

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Singapore is $454,346 billion. Each year, consumers spend around $9,367 million. The ratio of consumer spending to GDP in Singapore is 0%, and the ratio of consumer spending to the world consumer market is 0.027. The corporate tax in Singapore is set at 17%. Personal income tax ranges from 0% to 22%, depending on your specific situation and income level. VAT in Singapore is 7%, and it is known as Goods and Services Tax. To read more click on economy of Singapore.

Infrastructure of Singapore

Infrastructure quality in Singapore is rated to be at 4.28. It indicates a good quality - roads, railroad, ports and other facilities are adapted and regularly maintained to handle high levels of traffic at all times, as well as most probably there are special facilities for handling high intensity and/or special traffic or vehicles (e.g. motorways a.k.a. autobahns and deepwater ports).

In Singapore, 100% of the population has access to electricity. There are 1,960,000 internet hosts in Singapore. Singapore has 9 airports nationwide.

The logistics performance index of Singapore is 4. It indicates a good performance - the logistics system is well prepared and organised, shipments mostly arrive on time and do not suffer damage, and the infrastructure is ready to handle even unpredictably big amounts of traffic as long as it is not overwhelming.

Tracking possibilities for shipments are rated at 3.9. It indicates a good performance - the tracking systems provide detailed and up-to-date information about most of the parameters of shipments, as well as often transcend national (both political and linguisitc) barriers and may be qualified as international shipment tracking systems.

The number of road motor vehicles per 1000 inhabitants in Singapore is 364. To read more click on infrastructure of Singapore.

Politics of Singapore

Singapore, is a unitary parliamentary constitutional republic. With regard to political and civil freedoms, Singapore is 2. Citizens in Singapore experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Singapore, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Halimah Yacob.

According to the World Bank Group, the government effectiveness index of Singapore is 2.19. This indicates that the government of Singapore is very effective. Citizens enjoy highly effective social, public, and civil services, and the overall morale in Singapore is high. Government actions are efficient and expeditious, and dangerous situations are highly unlikely as a result.In Singapore, the legislative power is vested in a Parliament. The Global Peace Index (GPI) for Singapore is 1.49. The strength of legal rights index for Singapore is 8. Overall, it is considered to be rather adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available. Singapore is a member of the United Nations (UN). On 21 September 1965, it joined the UN as a full member state. Singapore is a member of the World Bank. To read more click on politics of Singapore.

Environment of Singapore

Singapore emits 4.3 metric tons per capita of CO2. 20 km² of Singapore's territory is covered in forests. and forest land comprises 3% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Singapore is 364. To read more click on environment of Singapore.

Company formation in Singapore

The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Singapore.

When establishing a company in Singapore, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Singapore that will affect the establishment and growth of one's business. Contact us or click on company formation in Singapore to read additional information when setting up a business.

Bank account opening in Singapore

With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Singapore. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.

When considering opening a bank account in Singapore, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Singapore or contact us.