Insights

Equity-based incentive plans have gained significant traction in Singapore as a tool to attract, retain and reward employees. These plans allow employees to share in the company’s success, aligning their interests with shareholders while also deferring part of the company’s expenses. SGX-listed (i.e. public) companies have long used these structures, and private companies, including startups, now increasingly adopt them for their flexibility and impact on long-term motivation of employees.

Singapore is a top destination for affluent and highly skilled expatriates due to its strong economy, low taxes (progressive income tax capped at 24%), political stability, and high quality of life. Due to its thriving economy and strategic business positioning, it has become increasingly attractive for expatriates and their families. However, navigating Singapore Law regarding employment passes and laws and permanent residency may be unfamiliar territory for expatriates. Hence, this article offers insight on the key legal and tax considerations for expatriates when moving to Singapore.

Equity grants (Employee Stock Option Plans (ESOPs) and Employee Share Ownership Plans (ESOWs)) can come with their own set of challenges for reporting and taxability. Globally mobile individuals add an additional layer of complexity as they may even be caught with taxes in more than one country. In this article, we address the characteristics of ESOP/ESOW reporting that you should be aware of.

In this article, we focus on the payroll and tax reporting requirements of benefits in Singapore.

The Central Provident Fund (CPF) headline rules are changing from 1 September 2023, but the change would already have impacted some employees and there are organisations that might not be aware of this. In this article, we discuss how you can improve your payroll processes and avoid making costly mistakes.

All businesses of any sort must be registered before commencing business in Singapore. The type of business structure one chooses depends on the business needs. Tax implications vary according to the structure and professional advice is essential before commencing business.

Singapore will be implementing a points-based evaluation system for Employment Pass (EP) applications starting from September 2023 under the new Complementarity Assessment Framework (Compass) which assesses applicant- and employer-based criteria such as salary, qualifications, diversity and support for local employment.

Over the last five years in Singapore, there has been a continuation of a global shift towards protectionist immigration policy. Although this shift is not new, it seems to have gathered pace.