10 Things You Didn’t Know about the Singapore Business Culture A presentation brought to you by OpenCompanySingapore.com

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Singapore as a Business Center

• Singapore is perceived as an extravagant city-state due to the high-tech system employed, but it is also considered an excellence business center.

• But what are the most important 10 things one should know about doing business in Singapore?

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1. The Multicultural Environment in Singapore

• The geographical position has transformed Singapore into one of the most visited countries in the world.

• When starting a company in Singapore, foreign investors should keep in mind that the city-state is comprised of a high number of Chinese, Malays and Indians, therefore the business community is also quite assorted.

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2. First Contact

• First contact is very important when starting a business in Singapore.

• The best way to engage in a conversation with a business group is by being introduced by a third person.

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3. Bring Your Business Cards

• Business etiquette in Singapore requires investors to have many business cards on them.

• Also these should be presented with both hands and with the name facing the interlocutor.

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4. Punctuality

• Business meetings are based on punctuality, but in Singapore this attribute is very important especially when coming face to face with a potential business partner for the first time.

• Our  company formation representatives in Singapore will provide you with more information about usual business hours.

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5. Arrange Visits in Advance in Singapore

• It is very important to plan ahead a visit with a potential business partner in Singapore.

• It is advisable to plan a meeting at least two week in advance, according to the Singapore business culture.

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6. Language in Singapore

• Even if the Singapore business community is full of foreign investors, the most employed language is English.

• Singaporeans also use English as a working language.

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7. Business Gifts in Singapore

• It is a common fact in the Eurasian community to give a business gift when first coming into contact with a member of a company in Singapore.

• The gift should not be expensive or big, as it is meant to express thanks.

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8. Negotiations in Singapore

• Singapore businessmen are used to negotiating every aspect when concluding a contract with a foreign entrepreneur.

• However, Singapore enterprisers are very respectful, considering negotiations a way to get to know their partners.

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9. Business Protocol in Singapore

• The business etiquette in Singapore implies a certain protocol as Singapore managers are more formal than in other Western countries.

• In Singapore, the company or the division of the company one is dealing with is more important than individuals.

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10. Communication in Business Meetings in Singapore

• The Singapore business culture requires that rank is respected.

• The Singapore manager will be addressed first when speaking and the eldest person in the group will be shown the greatest respect.

• For assistance in company registration in Singapore, please contact us.

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Thank you for your attention!

For more information, please contact us at:

+ 852 8191 3385office@lawyers-singapore.com

www.opencompanysingapore.com

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