Empower Your Business Expansion in Singapore with Innovare

Unlock seamless growth and navigate Singapore's dynamic market landscape with our expert EOR solutions. Start your journey towards global success today.

Strategic Recruitment Expertise

We understand the pivotal role that the right talent plays in the success of your business. Our approach to recruitment is tailored to meet the unique needs of each client, ensuring a perfect match between your organisation and our global talent pool.

Brief Overview

Innovare Singapore

Innovare Singapore, a pivotal member of the Innovare Group, specializes in facilitating smooth business expansion into Singapore's prosperous market. Leveraging comprehensive EOR services, we ensure your venture's seamless adaptation to the local business environment, supported by our in-depth expertise and commitment to compliance.

Expert navigation through Singapore's advanced free-market economy

Streamlined processes for employing foreigners and managing payroll

Dedication to adherence with local laws and regulations

Specialized support for both expatriates and local consultants in Singapore

Local Expertise

Country-Specific Solutions

Onboarding

In Singapore, employers must provide a written contract detailing essential employment terms to new hires within 14 days of starting work. This contract ensures transparency by clearly outlining job responsibilities, work schedules, remuneration, and leave entitlements, setting a clear foundation for the employment relationship.

  • The contract specifies job scope and expectations for clarity.
  • It outlines work schedules to ensure mutual understanding.
  • Salary and payment details are clearly laid out for transparency.
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Payroll Services

Singapore mandates monthly salary payments within seven days post-period end, adhering to a standard workweek of 44 hours. Timely tax filings are crucial, with specific deadlines for both hardcopy and electronic submissions.

  • Salary paid once a month within seven days
  • 44-hour workweek limit
  • Tax filing deadlines: April 15 (hardcopy), April 18 (electronic)
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Taxes

Singapore taxes all local income, with non-resident rates at 22% in 2022, rising to 24% in 2024. Employment income follows a separate taxation rule, ensuring equitable contributions.

  • All Singapore-sourced income is taxable
  • Non-resident tax rate: 22% (2022), 24% (2024)
  • Employment income taxed at 15% or resident rate, whichever higher
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Leave

Employees in Singapore enjoy statutory leave benefits including annual leave, maternity leave, and public holidays, enhancing work-life balance and job satisfaction.

  • Minimum of 7 days annual leave, increasing yearly up to 14 days
  • 16 weeks paid maternity leave for Singaporean citizens
  • 11 public holidays, in addition to annual leave
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Social Security Management

The CPF underpins Singapore's social security, covering retirement, healthcare, and housing needs through employer and employee contributions, ensuring comprehensive welfare.

  • CPF: Mandatory social security savings scheme
  • Funds split into Ordinary, MediSave, and Special accounts
  • Covers retirement pensions, medical expenses, and housing
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Termination

Termination processes in Singapore require adherence to mutual notice periods or payment in lieu, with no statutory severance unless specified in the employment contract.

  • Notice period identical for employer and employee
  • Payment in lieu of notice allowed
  • No statutory severance payment requirement
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Onboarding
Payroll Services
Taxes
Leave
Social Security Management
Termination

Singapore
Market
Insight

Economic Dynamism

Singapore's economy is robust, driven by forward-thinking policies and a strategic location that appeals to businesses worldwide.

Skilled Workforce

The nation prides itself on a highly skilled workforce, leading in technology, finance, and commercial sectors.

Pro-Business Environment

Singapore's business-friendly policies create an ideal setting for companies looking to tap into the Asia-Pacific market.

Global Reach

Comprehensive Solutions, Tailored for You

FAQ

You've got questions, and we have the answers.

1) What documents should the client have ready to avail EOR services from Innovare in Singapore?

2) Do you assist clients with company incorporation in Singapore? If so, to what extent do you provide support?

3) What does the process of getting started with Innovare for EOR services in Singapore actually entail?

4) Does Innovare also support businesses with other aspects of setting up a business, such as becoming a member of a chamber of commerce or taking advantage of particular government schemes or grants in Singapore? If yes, to what extent does that support extend?

5) How does Innovare assist clients with visa and work permit requirements in Singapore? What documents do you require from Client and candidate to facilitate the visa application process?