There are several tax benefits of Variable Capital Company (VCC). The favourable tax regime for Singapore corporates is applicable to Variable Capital Company. Singapore corporates enjoy a corporate tax of 17%, one of the lowest in the world. The same tax rate will be applicable to VCC. There is also no corporate gains tax which [...]
There are several key requirements of Variable Capital Company (VCC) that need to be fulfilled. The requirements of the Securities and Futures Act (SFA) will apply to the VCC as a fund. This also means that the VCC has to comply with Anti-Money Laundering/Countering the Financing of Terrorism procedures. The VCC will be regulated by [...]
The Variable Capital Company (VCC) is a new legal entity structure for investment funds to be domiciled in Singapore. There are several key features of the Variable Capital Company which we explain in this article. The VCC funds can be either open-ended or close-ended. There is no restriction on the type of fund strategies and [...]
Launched in January 2019, "Start Digital" is a new initiative by Infocomm Media Development Agency (IMDA) and Enterprise Singapore to encourage Small and Medium Enterprises (SMEs) to adopt digitalization in basic business functions. It is also part of the SMEs Go Digital program that aims to encourage digitalization for SMEs. In this initiative, five categories [...]
Singapore is encouraging its Small and Medium Enterprises (SMEs) to embrace digital technology. The $80 million SMEs Go Digital (SGD) programme was launched in 2017 to spur SMEs in transforming their business towards greater digitalisation. The programme received a boost in the recent Budget 2019 with further expansion in scope and initiatives. The scheme will [...]
Consumers are spoilt for choice when it comes to ride-hailing apps in Singapore. The biggest is Grab which has a significant market share, after Uber pulled out of Singapore. Besides Grab, there are other ride-hailing apps such as GoJek, Ryde, and TADA. The taxi companies in Singapore also has apps for customers to take their taxis. [...]
The taxis in Singapore do not charge an exorbitant price. They are affordable and offers a convenient mode of transport. The pricing is transparent as taxis operate by meters. There is an initial flag-down fare of $2.80 to $6. After that, there is a distance fare of around $0.22 to $0.30 per kilometre. There is [...]
Singapore is well served with a world-class public transport system. Being a city-state, the small land size makes also makes it convenient to travel around via public transport. Public transport in Singapore refers mainly to the bus and Mass Rapid Transit (MRT) subway system. For extra convenience, one can travel via a taxi or book [...]
Singapore offers four main types of work permits for trainees or students to work in the country: Training Employment Pass Work Holiday Pass (under Work Holiday Programme) Work Holiday Pass (under Work and Holiday Visa Programme) Training Work Permit Besides these work permits, there are other types of permits (long-term and short-term) for foreigners to [...]
The short-term work permits for foreign workers in Singapore: Miscellaneous Work Pass Work Permit for foreign worker Work Permit for foreign domestic worker Work Permit for confinement nanny Work Permit for performing artiste These are other permits available to foreigners are long-term or semi-permanent in nature. These include S Pass, Employment Pass, Personalised Employment Pass [...]
