Singapore has a tight labour market and it is expensive to obtain a worker’s permit, especially in intensive sectors. However, with a strong focus on education, the country’s competitiveness is supported by personnel equipped with the skills needed for a rapidly changing global economy.
There are a number of different requirements and regulations that you must abide by in terms of your human resources. This includes Work Injury Compensation Insurance, which must be completed at an insurance agency at the same time you incorporate your company.
Singapore has its own mandatory statutory contribution systems to abide by, and you will need to ensure you have your own HR systems and policies in place for your team.
Our local TMF Group Singapore team can help with:
- Application of associated permits and visas – For foreign personnel moving to Singapore.
- Payroll – We can help you with both the calculation and payment of payroll.
- Employment and/or dependent passes – We can assist with the cancellation of passes when no longer required.
- Employment contracts – We can assist with both the preparation and execution of employment contracts.
- Relocation requirements – TMF Group Singapore can assist with your or your staff’s relocation requirements including work permits, employment passes, dependent passes, visit passes and permanent resident (PR) status.
- HR policies and terms – We can help with the implementation of HR policies and terms, helping to make sure these are integrated into local contracts and procedures.
- Leave management – For employee’s mandatory leave, we can assist with the application of subsidies from the various statutory boards.
- Mandatory statutory contributions – New businesses will need to lodge and file mandatory statutory contributions for their staff.
- Online payroll facilities – We can help provide electronic processing and reporting of HR records and an e-payslip system.