Is Singapore the ideal model for government

Why should German consumer companies consider Singapore for their next business expansion?

The digital consumer - Singapore's support for e-commerce and e-selling

The Singapore government supports and develops the e-commerce sector with various initiatives and grants. It is preparing to become a global e-commerce hub.

Revenue in the Singapore e-commerce market totaled $ 4,089 million in 2018 ($ 5,546 million). The growth rate in this sector is expected to show an annual increase (CAGR 2019-2023) of 14.7%, which will result in a total market volume of USD 8,639 million (S $ 11,717 million) by 2023. The electronics and media sector was the largest sector in 2018 with sales of USD 1,065 million.

This market is strongly influenced by factors such as new and innovative digital technologies, market opportunities abroad and the expansion of distribution logistics. According to the 2020 Vision of the Retail Industry Transformation Map (ITM), Singapore will have a dynamic and booming retail industry with a mix of local brand owners with an international presence and highly productive omni-channel retailers.

One of Singapore's initiatives to support e-commerce is the collaboration between the Economic Development Board (EDB), the Media Development Authority (IMDA) and industry in defining and implementing common IT standards to improve the smooth exchange of B2B documents between companies .

There are five main themes affecting the spread of e-commerce in Singapore, namely developing an internationally networked infrastructure, establishing Singapore as an e-commerce hub, strengthening its strategic use by businesses, promoting its use by the public and the standardization of laws and guidelines for cross-border e-commerce.

What do you need to consider when choosing an outsourcing partner in Asia?

Southeast Asia is not only a new and promising market for retail, it is also very different when it comes to its corporate culture. It is therefore important for your future business success to have a strong partner who is experienced in this diverse business culture and can offer you a wide range of services.

Hawksford has a track record of providing high quality business services in key emerging markets across Asia. Our job is to take on the burden of regulatory, financial and tax compliance, and corporate governance so you can focus on managing your business interests.

We understand that our customers are looking for flexible and exceptional customer service. Our dedicated on-site teams across Asia are always up to date with local developments, so we can help you meet your contractual obligations and deadlines. We combine experience and expertise with enthusiasm and entrepreneurship and thus secure the trust of our customers in our performance and the trust in our team.

From our Singapore office we offer the following services:

  • Company formation

We support companies worldwide in entering the Asian markets by offering company formations and ensuring that legal and regulatory requirements are met. We have expertise in the areas of risk, corporate governance and ongoing administrative services as well as various advisory services to help you set up and expand your business in Asia.

  • Taxes & accounting

We provide ongoing support with services and expertise in tax compliance, bookkeeping and financial statements, payroll, vacation and expense management, facility and social security systems, preparation and filing of corporate tax returns and personal tax returns.

  • Immigration advice & applications

We help entrepreneurs, business owners and overseas corporations circumvent Asia's immigration regulations with various visa applications and extensions, as well as permanent residence under various programs such as citizenship, permanent residence, work card, dependent ID, business card and other work cards.

There are several aspects that should be considered when choosing your partner to outsource your services to Asia.

With many different languages ​​within the ASEAN region, starting your business in Singapore is a huge benefit as the official business language is English. Hawksford also offers support in German as we have several German-speaking employees in Singapore, Hong Kong and China who understand the German business culture, tax and legal situation.

One of the most important aspects of moving a business to another country is the relocation and immigration of employees. It is therefore important to work with an experienced service provider who can demonstrate a successful track record. Hawksford employs a world-class immigration team with former Ministry of Manpower (MOM) staff who know and understand the needs of the Singapore government.

  • Recruiting and temporary workers

A very important service for your young company will be the recruitment of employees, because a company is just as good as its employees. We will be happy to help you find the right person or offer you the opportunity to hire our temporary workers. This can help bridge the early stages of doing business in Asia and get you off to a good start. For example, Hawksford can provide you with a temporary CFO. This means that we act as a temporary CFO for your company and provide all accounting functions at a fraction of the cost of an in-house solution. Key benefits include a better understanding of corporate finances that gives you fewer surprises and more control, improved decision-making skills, high quality budget preparation and monitoring, tax-saving measures, and much more.

  • Data protection and data safety

Data protection and data security are important factors that must be taken into account when starting a business. Due to the different laws and regulations abroad, you have to be very careful in order to comply with the legal requirements. We are working with a professional partner to advise you on your data processing practices to ensure that you comply with the requirements of the Singapore Personal Data Protection Act.

We understand our duty to offer our customers a complete solution. That is why we are constantly expanding our service network and the partner network.

In addition to the relocation and immigration of your employees, we also support you with the relocation and immigration of your entire family. We take care of all visa and work permit applications for partners and children.

Another very important factor for families to consider is the education of the children. That is why we are happy to help you find the right school that suits you and the needs and requirements of your children.

A good and trustworthy partner for legal advice is imperative when doing business. In order to be able to offer you a qualified partner in matters of legal advice, we work together with several lawyers with different specializations. These partners also include German-speaking lawyers.

Hawksford understands the needs of today's entrepreneurs and the importance of flexibility in a fast-paced business world. We work with a network of preferred business centers and co-working spaces that are highly professional and fully equipped, offer ready-to-use office space and are available on flexible terms. In the case of a more traditional office requirement, we will work with our network of real estate agencies to find the right property for you and your requirements.

Finally, when relocating skilled workers and their families, the focus is also on health care. We work with several insurance brokers to help you find the right solution for your unique needs.