Income Median’s Up in Singapore As More Older and Younger Workers Employed Singapore has experienced an increase of 4.8% in median income levels of the local full-time working group of individuals. Incomes of local workers were on the rise as of June this year as the country’s economy grows stronger. The 4.8% increase in income…
Not Reporting Suspicious Transactions? You Could Be Facing Higher Fines Failure to report suspicious transactions and terrorism financing will be dealt with harsher penalties, as laws are being updated and enforcement increased in Singapore in a bid to fight against these crimes. Changes to the legislation were passed in Parliament and will affect the Terrorism…
Digital Payment Service Providers to Be Streamlined Singapore is moving to streamline all digital payment service providers who currently fall outside the regulatory schemes. These providers are set to be licensed under a new regime, under the new proposed Payment Services Bill. In a bid to safeguard consumers’ money, boost cyber-security measures and counter terrorism…
Workers Enjoy Greater Protection, Thanks to Employment Act Changes Singapore’s labor workforce will enjoy greater protection, thanks to the latest changes and major transformation to the Employment Act. The changes will now entitle Singapore’s labor force to new rights, which include mandatory annual leave of seven to 14 days, paid sick leave and protection from…
More Responsibilities for Housing Developers to Prevent Money Laundering Singapore’s housing developers will have new rules, duties and responsibilities under a Bill which was passed in Parliament recently. These and other proposed changes to the Developers (Anti-Money Laundering and Terrorism Financing) Bill are part of Singapore’s efforts to remain in line with the international standards…
Singapore Still in Second Place Behind New Zealand for Ease of Doing Business No doubt Singapore is an island full of possibilities and opportunities for the savvy investor to capitalize on. However, there is one thing that Singapore still needs to work on to become number one in the ease of doing business – making…