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Business FAQ

 

  1. What is the weather like in Singapore?

Singapore is a country with a tropical climate. This means that it is sunny and hot all year round with occasional rain. Temperature fluctuations are insignificant: the average temperature is 28-31°C during the day and 23-27°C during the night. The rainy season in Singapore is from November to February.

 

  1. Do they accept credit cards in Singapore?

In Singapore, credit cards are accepted almost everywhere except for small shops. You can pay by credit card even in a taxi.

 

  1. Is it common to pay tips in Singaporean restaurants?

In Singapore, unlike other Asian countries, you are not expected to tip. As a rule, most restaurants already add 10% Services Charge to their bills. However, tips are optional but welcome in those restaurants where this tax is not included.

 

  1. I do not like Asian cuisine, what are the options?

It is not a problem if you do not like Asian food. There is a huge selection of different types of restaurants from French, Italian to Russian cuisines. In addition, there is usually a European menu even in coffee shops or hawker centers.

 

  1. How expensive is it to live in Singapore?

In 2014, Singapore was recognized as the most expensive city in the world. Despite this, the cost of living there is generally cheaper than in Tokyo or Osaka and is on a comparable level with Shanghai and Beijing.

 

  1. Who can register a company in Malaysia?

Any individual who has reached the age of 18 and is not bankrupt under Malaysian law may register a company in Malaysia. Foreigners are obliged to seek help from specialized companies.

 

  1. Is it profitable to purchase real estate in Malaysia?

Buying property in Malaysia is extremely profitable, since the prices of houses and apartments are really cheap compared to prices in many other countries.

 

  1. What types of companies are allowed in Malaysia?

According to the current legislation of Malaysia, you can register one of the three organizational and legal forms of private companies (Sdn Bhd): open private limited liability companies,

closed limited liability company and closed company with unlimited shareholder liability.

 

  1. Is it profitable to provide consulting services in Vietnam?

Nowadays, Vietnam piques the interests many foreign businessmen who consider the issue of supplies from Asia as promising direction for their business. You can run your own consulting company and support such clients by providing them with a great range of services such as organizing business meetings, searching for Vietnamese supplier companies, negotiating and executing control functions for the production / shipment of products.

 

  1. Why is it beneficial to run business in Vietnam?

In Vietnam, the establishment of enterprises of no strategic importance with 100% foreign capital is allowed at the legislative level. Despite the socialist order of governing the state, the entire service sector and the production of industrial goods has long been transferred to private ownership. Therefore, the investment of personal capital in the opening of any private enterprise has become very profitable. Moreover, business in Vietnam looks more promising as there are a lot of unoccupied niches for the implementation of business projects.

 

  1. Is there a high competition on the market in Vietnam?

Foreign investors are already involved in many areas, especially American businessmen. There are a lot of businessmen from Japan, South Korea, Taiwan and Germany. The smallest percentage of infusion of foreign capital is in the tourism business.

 

  1. Why can foreigners own only 49% of the company's shares in Thailand?

Foreigners are allowed to own more shares. But in this case, a company will be considered a foreign legal entity and there will be a necessity  for the company to apply for the Foreign Business Act. It significantly limits the company's activities.

 

  1. How long will it take to register a company in Thailand?

It takes about 10 days to register your company from the moment you provide the information concerning the company’s name, its director, shareholders, share capital, etc. to a lawyer.

 

  1. Do I have to open a bank account in Thailand?

No, opening a company account in Thailand is optional.

 

  1. Do I need to get a license to carry out a particular type of activity?

It depends on the type of activity of a company. In most cases, a license is not required.

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