International
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Catherine CHANTHABOUN
Head of International Desk Asia Pacific

Support by the
Crédit Agricole group

Last updated: September 2021

The International Asia-Pacific Desk of the Crédit Agricole Group provides support to the Crédit Agricole Group’s business clients in Singapore to help them implement their operations on location, particularly opening accounts, and providing financing, information and banking advice. To this end, it draws on the Group’s business units and on a large local banking group partner.

Crédit Agricole CIB, the Group’s financing and investment bank has been present in Singapore since 1905 in the form of a branch monitored by the Singaporean Monetary Authority. It operates through drawing on its international clients in structured financing, capital markets, and cash management. The branch has a full licence.

Other of the Group’s business units present in Singapore:

  • Asset management: Amundi Singapore, Crédit Agricole Asset Management Ltd
  • Private banking: CA Indosuez (Switzerland) SA, Singapore Branch

For non-banking matters, the International Desk offers the support of local law and accounting offices and its partners as well as expertise in business internationalisation.
For more information, see the list of the Crédit Agricole Group’s locations.

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Means of payment

With Singapore

Company cheque

Bank cheque

SWIFT transfer

Bill of exchange

Promissory note

Documentary remittance

Documentary credit

Usage

Weak

Common

Common

Weak

Weak

Common

Common

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Advice from the
international desk

General Information

The main economic sectors in Singapore are financial activities related to service, logistics and communication, as well as the manufacturing/construction industry.

Singapore is not only the third most important financial location in Asia, but also a hub for regional trade (one third of ASEAN commercial flows go through Singapore).
Five technology sectors have been defined as particularly strategic: electronics, biomedical technology, information and communication technology, precision engineering and transport, as well as green technologies.


Legal set-up

The Companies Act does not require a minimum share capital. Nevertheless, for practical reasons linked to the sum of the registry fees, companies generally have a minimum share capital of SGD 100,000. On the contrary, the law imposes the issue and release of at least 2 social shares, each of a value of SGD 1. The Registry of Companies and Businesses prescribes the aid of a lawyer for the establishment of a company of foreign origin. The corporate tax rate (17%) is one of the most attractive in Asia.

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