Facts & Stats
- Capital city
Singapore dollar (S$, SGD)
English, Malay, Mandarin, and Tamil
- Population size
- Ease of doing business
- Cost of living index
$$$$ (11 of 139 nations)
- Payroll frequency
- VAT - standard rate
- GDP - real growth rate
Singapore, officially the Republic of Singapore, is a sovereign island city-state in maritime Southeast Asia. According to the World Economic Forum’s Global Competitiveness Report 2019, Singapore is the world's most competitive economy, having overtaken the United States. Singapore also ranks highly on the United Nations’ Human Development Index (HDI) and finds a place among the top 10 countries in per capita nominal GDP, as estimated by the International Monetary Fund.
Grow your team in Singapore with Remote
Looking to employ workers in Singapore? Companies hiring in Singapore must either own a legal entity in the country or work with a global employment solutions provider, usually one that provides employer of record services.
Remote can employ your team in Singapore on your behalf through our local legal entity in the country and handle payroll, benefits, taxes, and compliance for your Singapore team. You can also pay contractors now in Singapore with Remote.
Risks of misclassification
Singapore, like many other countries, treats self-employed individuals or contractors and full-time employees differently. Misclassification of contractors in Singapore may lead to fines and penalties for the offending company.
Employing in Singapore
The primary sources of employment law in Singapore are the Employment Act and common law. Other sources of employment law include the Child Development Co-Savings Act, the Employment of Foreign Manpower Act, the Work Injury Compensation Act, and the Workplace Safety and Health Act.
Singapore’s employment law provides strong labor conditions and protections for employees, so employing workers in the country is an important investment and commitment. Temporary agencies are popular options in certain industries.
To employ workers in Singapore, contact Remote to learn more about your options.
There is no statutory minimum wage in Singapore, with two exceptions. Cleaners employed in the cleaning sector must have a minimum wage of SGD 1,200 per month, and security guards must have a minimum wage of SGD 1,100 per month.
For customers of Remote, all employee payments will be made in equal monthly installments on or before the last working day of each calendar month, payable in arrears.
We can help you get a new employee started in Singapore fast. The minimum onboarding time we need is only 5 working days.
Our team ensures your employees are onboarded and paid as quickly as possible while keeping your business compliant with all local employment legislation. The minimum onboarding time begins after the employee submits all required information onto the Remote platform. The onboarding timeline is also dependent upon registration with local authorities.
For all non-nationals of the country of employment, the Right to Work assessment (if applicable) will add three extra days to the total time to onboard. There may be extra time required if we need to follow-up on the right to work assessment.
Please note, payroll cut-off dates can impact the actual first day of employment. Remote has a payroll cut-off date of the 10th of the month unless otherwise specified.
11 Public holidays
Competitive benefits package in Singapore
Remote supports our clients by offering competitive benefits packages that will help you attract and retain the best talent across the globe! Our benefits specialists have done the research on norms and requirements in each local market and have crafted packages that will allow your employees to thrive, no matter what country they live in.
Our benefits packages in Singapore are tailored to fulfil the local needs of your employees. Typically, our packages contain some or all of the following benefits:
Mental Health Support
Pension or 401(K)
Life and Disability Insurance
Local market insights
In Singapore, 90%* of employers offer supplemental health insurance to their workforce. (*based on 3rd-party market research from our partners)
Although the country has a public health system, supplemental health insurance provides employees with access to a wider range of options for providers and specialists, as well as significantly shorter wait times. Our plans also offer global coverage (excluding the US) to protect your employees when they are traveling outside their home country.
Our core benefits (which often include things like healthcare) are required in most countries where we hire. Because Remote is the employer of record, it’s important for us to offer the same core benefits to all employees in a country to ensure fair equity and non-discriminatory hiring practices, which protects your business and ours. Note that we do not add a markup on any benefits premiums or administration costs.
If you'd like specific information about our benefits packages in Singapore, start onboarding your first employee with Remote today.
For more insight into fair equity and benefits best practices, download our Global Benefits Guide and share with the rest of your hiring team.
Taxes in Singapore
Learn how employment taxes and statutory fees affect your payroll and your employees’ paychecks in Singapore.
Up to 0.25%
Skills Development Levy (SDL)
9% - 17%
Up to 17.25% Total Employment Cost
Types of Leave
All full-time workers are legally entitled to a minimum of seven days of annual leave after completing three consecutive months at a company. After that, one additional day must be added per year until reaching 14 days after completing seven years at the company. However, it is common for employees to receive 14 to 20 days of annual leave. Additionally, full-time employees receive 11 paid public holidays every year.
Final salary due date
Employee’ resignation with notice period served
The last day of employment.
Employee’s resignation without notice period served
Within 7 days of the last day of employment.
Dismissal on grounds of misconduct
Employer’s termination of contract
The last day of employment.
(If this is not possible, within 3 working days from the date of dismissal.)
As per the employment act in Singapore, either party can give the other a notice to terminate the contract of employment.
The statutory notice period in Singapore depends on the duration of employment.
One day of notice for less than 26 weeks of employment
One week of notice for employees who have worked with the company for 26 weeks or above, but less than 2 years
Two weeks of notice for employment for two years or above, but less than five years
Four weeks of notice for five years or above of employment
In Singapore, probation periods are not mandatory, but common practice is from three to six months.