The Republic of Singapore is situated on a chain of islands in Southeast Asia between Thailand and Malaysia. Until 1959, Singapore was a British colony. It then joined the Federation of Malaysia for 6 years. In 1965 Singapore left the Federation and became an independent state.
The highest management body of the country is the Parliament. Singapore is considered to be one of the most stable countries in the world in terms of politics.
Singapore’s economy is one of the most intensively growing financial systems in the world. The country is one of the key economic centers of Southeast Asia in such areas as shipping, trade, high-tech, and financial services.
The Singapore legal system is based on Anglo-Saxon law which is a legacy of its former master country being Great Britain.
In Singapore, there are no tax-free companies. However, Singapore’s tax legislation is very favorable for global business as it offers the opportunity to use companies incorporated therein a favorable tax regime.
As a non-resident of the EU, a Singapore PTE company is an appropriate instrument for the purchase of goods in EU countries and their further export to countries outside of the EU. Singapore is not a party to the Hague Convention and hence is unable to issue an apostille, which may be inconvenient. Consequently, in some cases consular legalization of corporate documents of Singapore companies may be required.