Singapore

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Operating a Business in Singapore

Types of companies and capital (max/min)	Number of partners/shareholders and liability	Registration fees
Company Limited by Guarantee. No minimum capital.	Minimum 2. Liability is limited to the amount of guarantees	Around SGD 600
Company Limited by Shares and Guarantee. No minimum capital.	Minimum 2. Liability is limited to the amount of guarantees	Between SGD 1,200 and 35,000.
Private Company or Sendirian Berhad (Sdn Bhd) No minimum imposed by the law, in practice, capital is SING$ 25,000	Minimum 2. Maximum 50 shareholders. Liability is limited to the amount contributed.	Between SGD 1,200 and 35,000.
Public Company or Berhad (Bhd) No minimum capital.	No minimum Liability is limited to the amount contributed.	Between SGD 1,200 and 35,000.
General Partnership No minimum capital.	Minimum 2. Maximum 20 Liability is unlimited.	Around SGD 600
Limited Partnership No minimum capital.	Minimum 2. Maximum 20. At least one person has an unlimited liability. Other partners' liability is limited to the amount they contributed.	Around SGD 600
Sole Proprietorship No minimum capital.	1 only person. Liability is unlimited.	Around SGD 600
Unlimited Company No minimum capital.	Minimum 2. Liability is unlimited.	Around SGD 600

Business setup procedures: The company's founders in Singapore have to register the company's name and pay registration fees. Investors have then to register their company with the Registry of Companies and Businesses (RCB) which delivers a registration certificate.
The competent organization: Registry of Companies and Businesses (RCB)

Legal weekly duration: 8 hours per day and 40 hours per week with one-hour lunch break.
Retirement age: 62 years
Working contracts: However the nature of contract depends on the type of contract which could be of following types: Annual hours contract, casual workers contract, fixed-term contract, home-workers contract, job sharing contract, flexi-time contract, part-timers contract, self-employed workers contract.

Minimum wage: Singapore has no minimum wage law.
Average wage: The average monthly gross earnings in Singapore in 2007 was USD 2,500.
Social contributions: Social security contributions paid by employers: For non-government employees: 14,5% to 5% (depending upon age)

For government employees: 10,875% to 3,75% (depending upon age)
Social security contributions paid by employees: For non-government employees: 20% to 5% (depending upon age)

For government employees: 15% to 3,75% (depending upon age)

Social dialogue and involvement of social partners: Trade Union Act does not allow the unionization of government employees and uniformed personnel. The act also restricts the Trade Unions' right to select the leader and whom to employ.

Most of the Trade Unions are part of National Trade Union Congress (NTUC) which is closely associated to the government. The government grants renewable licenses to trade unions on yearly basis and strictly controls them.
Unions: National Trade Union Congress (NTUC)
Unionization rate: 25 % (Approximately)
Labor regulation bodies: Ministry of Manpower
Singapore National Employers' Federation (SNEF)

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