Doing Business in Singapore

Singapore is relatively westernised, but does have has business customs that are specific to its own culture. It is important to follow them to avoid offending or alienating your business contacts.

- Business cards are a must in all business introductions in Singapore. Cards should be handed over with both hands - When receiving a card, you should make a point of looking at it carefully for a few moments. These are signs of politeness and respect.

- A long-sleeve shirt and tie suffices for men for most business meetings. For women, standard business dress is either a suit or a formal blouse and skirt. A jacket is sometimes necessary for evening cocktails or other events. Overall, dress is conservative. When in doubt about what to wear, check with your host.

- Many Chinese Singaporeans have both a European name as well as a Chinese name. The surname or family name usually follows the European name. The Chinese name follows the surname. Eg, Andrew Tan Yew Meng - the surname here is Tan and he should be addressed as Mr Tan.

- Depending on the situation, Singaporeans are also quick to drop formalities when they feel comfortable with a person and you may then reciprocate by using their European name.

- Pay attention to body language. Singaporeans do not usually express their disagreement verbally.

- "It is not just what you want but who you know" is applicable in Singapore.

- Establishing relationships can take time. Business lunches often help to cement working relationships.

- Don't be put off by shabby industrial-grade buildings - they often contain equipment worth millions of dollars.

- Remember that most Muslims don't eat pork or drink alcohol. Strict Buddhists and Hindus do not eat beef.

- Most importantly, remember to bring plenty of business cards

Travel Considerations

Visas

Most Western nationals either do not require a visa at all or do not require a visa for a social stay of up to 90 days. A 30-day permit is issued on arrival, and extensions are difficult to obtain.

Approx. Cost for Visitors
Budget meal: US$ 3
Mid-range restaurant: US$ 12 - 20
Top-end restaurant: US$ 30+

Budget Room: US$ 15 - 30
Mid-range hotel: US$ 30 - 100
Top-end hotel: US$ 150 and up

Singapore is much more expensive than other South-East Asian countries, which may come as a shock if you are travelling on a shoestring budget. You can still stay here without spending too much money, as long as you can forego the temptation to run amok in the shops or indulge in luxuries you may have craved while travelling in less-developed Asian countries. It's possible to stay in Singapore for US$25 a day, if you stay in hostels and eat cheaply. If you're staying in mid-range hotels and eating at good restaurants, US$80 is a more realistic daily minimum. All major credit cards are widely accepted, although you're not going to make yourself too popular after a hard bargaining session for a new camera if you then try to pay for it with your Visa card. ATMs are widespread, although it's probably still a good idea to take cash and travellers' cheques for emergencies. You'll find moneychangers in shopping centres all over Singapore.

Tipping is not usual in Singapore: expensive hotels and restaurants may impose a 10% service charge, and a gratuity is not expected in excess of this. Bargaining is falling by the wayside, but tourists should still expect to haggle for luxury items and souvenirs. It is unnecessary to bargain for everyday goods or transport.

Little India - Notable Place to Visit

This modest but colourful area of wall-to-wall shops, pungent aromas and Hindi film music is a relief from the prim modernity of many parts of the city. Centred around the southern end of Serangoon Rd, this is the place to come to pick up that framed print of a Hindu god you've always wanted, eat great vegetarian food and watch streetside cooks fry chapatis. The Zhujiao Centre is the main market, but there are also interesting spice shops nearby. The best temples are Veerama Kali Ammam, Sri Srinivasa Perumal and the glitzy Temple of 1000 Lights.


General Business Hours
General business hours are 9.00 am to 5.30 pm Monday to Friday and
9.00 am to 1.00 pm Saturday. Many shops are open from 10.00 am to
9.00 pm seven days a week. Banking hours are generally 9.00 am to
3.00 - 4.00 pm Monday to Friday and 10.00 am to 1.00 pm Saturday.

Usual Holidays and Festivals


New Year's Day 1 January
Chinese New Year 5 - 7 February
Hari Raya Puasa 8 January
Hari Raya Haji 16 March
Good Friday 21 April
Labour Day 1 May
Vesak Day 18 May
National Day 9 August
Deepavali 26 October
Christmas Day 25 December

Some Useful Sources of Information


Markets and Sectors
http://www.tradeport.org/ts/countries/singapore/sectors.html
Market Access
http://www.tdb.gov.sg/bizspore/sp_5.html
http://www.tradeport.org/ts/countries/singapore/market.html

Asia Compass: Trade and information website covering Asia Pacific
http://www.asia-compass.com.sg

CommerceAsia
http://www.commerceasia.com/

Singapore Business Times Online
http://biztimes.asia1.com/

Singapore Everything: The Site for Singapore Resources
http://singaporeeverything.com/

Singapore Online (TM): Information on Singaporean companies, government,
products and services
http://www.singapore.com/cgibin/var/online/var.htm