Singapore is a sovereign island-state located to the south of Malaysia. It is a highly developed country and boasts a free, competitive and business-friendly economy.
In 2015, Singapore’s population was estimated as 5,535,000 people. The majority of this population (over 74%) is descended from Chinese, Malaysian, Indian and Eurasian ethnicities.
In terms of weather, the city has a tropical rainforest climate. Singapore gets lots of rainfall (it rains almost every day) and the air is very humid throughout the year. The temperature doesn’t vary much and there’s a monsoon season from November to January. Thunderstorms are also common and provide a welcome relief from the heat.
Living in Singapore
Geographically, the city-state comprises of 63 islands and is divided into 5 main regions. The Central Region consists of Alexandra, Kallang, Chinatown, Marina Bay, Little India, Raffles Place, Singapore River and Toa Payoh. The East Region houses Bedok, Changi, East Coast, Tampines and Ubi.
Yishun, Mandai, Kranji, the Woodlands and the Central Catchment Nature Reserve can be found in the North Region. The North-East Region consists of Ang Mo Kio, Hougang, Seletar and Serangoon while Jurong West, Jurong East, Boon Lay, Clementi, Tengah and the Western Water Catchment are part of the West Region.
Choosing where to live depends on your preferences and way of life. Both Little India and Arab Street offer inexpensive and good accommodation. Boat Quay is situated on the Singapore River and is famous for its numerous eateries.
Orchard Road is a well-known shopping district and attracts a large number of tourists. China Town boasts budget guesthouses along with some upscale hotels. Several four and five star establishments can be found in Marina Bay.
The public transport in Singapore consists of the rail, bus and taxi services.
The Mass Rapid Transit (MRT) rail system runs on five main lines and has over 110 stations. The network is extensive and reaches almost every destination across the city. It’s supported by a Light Rail Transit system which connects the suburbs to the nearest MRT station.
Many people prefer using the bus service and right now there are over 4500 buses running in Singapore. Taxis are also popular because their fares are low.
The Changi Airport is the sixth busiest airport in Asia and manages both domestic and international air traffic.
Singapore offers a wide variety of leisure activities. The Singapore Botanic Gardens, the Fort Canning Park, Jurong Bird Park, Mandai Orchid Garden, the East Coast Park and the Sungei Buloh Wetland Reserve attract a large number of visitors every day.
In addition to world-class golf courses, the Formula One Grand Prix is also held in the city every September.
The Esplanade-Theatres on the Bay offers a host of international shows. The Singapore Chinese Orchestra schedules shows every two weeks while the Singapore Symphony Orchestra performs weekly at the Esplanade. A multitude of free concerts and performances can be viewed at the park and on the Esplanade’s concourse.
Working in Singapore
Singapore is a major economic centre in Asia. Its economy is run by several industries including IT, finance, banking, pharmaceuticals, chemicals, communication, electronics, biomedical sciences and oil drilling equipment.
1. Job Prospects
The city offers employment opportunities in different sectors. Skilled workers are always needed in IT, engineering, chemicals, electronics and biomedical industries.
The finance sector is seeing considerable growth and jobs are available in areas such as risk management, corporate finance, insurance, cross-border electronic banking, tax planning and investment banking.
Good career opportunities can also be found in the service sector. This includes healthcare, education, transport, advertising, retail and eateries.
Tourism is an important part of the economy and supplies over 290,000 jobs in the city.
2. Starting a Business
In addition to excellent job opportunities, Singapore is also a great place for starting a business.
The government provides support for all types of businesses and information regarding taxes, registration and essential paperwork is freely available.
You can structure your venture as a Sole Proprietorship, as a Partnership, a Limited Liability Partnership (LLP), or even as a Limited Partnership (LP). These are the most common types of business structures in Singapore and each of them has their own pros and cons.
The government also offers grants and tax incentives to small businesses.
New businesses can be registered online using the BizFile service offered by the Accounting and Corporate Regulatory Authority (ARCA).
You can register your venture yourself or you can hire a professional to submit the application on your behalf.
The ARCA will issue you a Business Registration Number (BRN) as soon as your application is accepted. After that you can apply to open a corporate bank account for your new venture.
3. Finding Office Space
The most popular areas for office space in the city includes Raffles Place, Tanjong Pagar, Orchard and Suntec City.
Both coworking and serviced office space can be found in these areas. These offices in Singapore come fully furnished and offer a variety of amenities including meeting rooms, video conferencing facilities, high-speed internet connections, 24-hour access and round-the-clock security.
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