Singapore tightens patent rules for businesses Singapore has introduced new work permit rules in 2025 that tighten hiring conditions for foreign workers, raising salary floors and implementing stricter compliance requirements for employers. The Ministry of Manpower (MOM) said the changes aim to prioritize local hires while still allowing companies access to skilled global talent. […]
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Singapore to shorten corporate closure process, easing restructuring for businesses The Ministry of Manpower (MOM) and the Visual, Audio, and Creative Content Professionals Association (Vicpa) issued a joint advisory on Sept. It states that companies in Singapore are barred from hiring foreign freelancers for creative services such as photography, videography and makeup work. The
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Bank of Singapore is offering an alternative to single-family offices The Singapore Business Federation (SBF) has launched the world’s first generative AI (GenAI) platform, Trade AI Advisor (TAIA), dedicated to global trade advisory. It aims to help companies manage complex trade rules and U.S. tariffs. Introduced on Sept. 9 at the “Navigating U.S. Tariffs:
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Singapore launches economic strategy review to boost resilience and competitiveness Businesses in Singapore that depend on intellectual property (IP) protection will soon face higher costs but clearer boundaries due to revised patent rules taking effect on Sept. 1. The Intellectual Property Office of Singapore (IPOS) will reduce the number of free claims in a
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A new law allows police to freeze bank accounts of scam victims Singapore will shorten the process for closing dormant companies, making it faster and less costly. Under changes to the Companies Act aimed at streamlining restructuring and preventing the misuse of shell companies, the government plans to allow the Accounting and Corporate Regulatory
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OCBC Bank tightens rules for international clients Bank of Singapore is targeting Asia’s wealthiest clients with a new service that offers the advantages of a single-family office (SFO) without the associated costs. Announced on Aug. 18, the Family Office Catalyst is designed for ultra-high-net-worth individuals with at least US$250 million in assets. Participants are
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Singapore to expand SME centres support by 2027 Singapore has launched a nationwide Economic Strategy Review (ESR) aimed at strengthening competitiveness, boosting innovation, and helping businesses and workers navigate increasing global uncertainties to safeguard its economic future. The review, announced on Aug. 4 by Deputy Prime Minister Gan Kim Yong, will run through mid-2026
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Businesses in Singapore to receive new grant in October amid US tariffs Singapore’s SME Centres are undergoing a major overhaul designed to provide deeper, more targeted support to small and medium enterprises (SMEs), especially those facing international expansion, funding hurdles and digital transformation. Announced at the SME Centre Conference 2025, the enhancements that are
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Companies eyeing Singapore’s cosmetics market must navigate HSA rules carefully The Monetary Authority of Singapore (MAS) has appointed Avanda Investment Management, Fullerton Fund Management and JP Morgan Asset Management to manage S$1.1 billion (US$856 million) under a government-led initiative to revitalize the local stock market and deepen liquidity. The funding is part of the
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Singapore tightens beneficial ownership rules for companies and LLPs from June 2025 The Monetary Authority of Singapore (MAS) announced earlier this month that setting up a family office in Singapore will now be faster and tax incentives will be available in just three months, compared to the previous 12-month waiting period. This policy update
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