Singapore has a population of approximately 5 million individuals many of them foreigners working here. Among these there are Chinese, Malay and Indian but European citizens also. Singapore has a sound employment policy and English as common work language. Singapore companies are renowned for providing a fair labor environment. The workforce in Singapore is renowned worldwide for its competency and the ability to relate to both Western and Asian business cultures. There are over 110,000 expats working in Singapore at the moment and about 7,000 multinational companies carrying out business activities.
The Ministry of Manpower and the Singapore Workforce Development Agency work together every year to publish an annual labor market guide for those coming to work in Singapore. Each year the Ministry of Manpower also draws out a Strategic and Skills-in-Demand List that is regularly updated. Among the most developed Singapore industries seeking employees currently are the aviation industry, the manufacturing sector, the pharmaceutical field and the chemical industry based on the city-state’s trading activities with other countries.
In order to obtain a job in Singapore foreign citizens must apply for an employment pass. In order to apply for the work permit in Singapore, foreign citizens must have a sponsor that is usually the company hiring them. Singapore offers an employment pass scheme to foreign citizens concluding employment contracts with Singapore companies based on the salaries they receive.
For detailed information about how to apply for employment passes foreign citizens are invited to ask our specialists in company formation in Singapore.
The Singapore labor force usually works on a five-day work week, based on a 44-hours schedule. The minimum annual leave days granted to Singapore employees start with 14 and increases based on the time the employee has in the company. Singapore labor contracts also contain provisions about two to three week of paid sick leave. Salaries are competitive and employees may also benefit from other facilities provided by the companies they work for. One of the most attractive incentives for foreign workforce is the Singapore taxation system that applies low personal income tax rates.
If you want to open a company or hire personnel you can contact our company incorporation agents in Singapore.