China's focus on expanding urbanization and booming domestic consumption present many opportunities for Singapore.

In June 2016, Mr. Ravi Menon, managing director of the Monetary Authority of Singapore (MAS) outlined four areas of potential partnership: capital management, risk management, infrastructure financing and asset management.

This table illustrates COI in Singapore, broken down by sector over the previous years.

The One Belt, One Road initiative announced by President Xi in 2013 has gained traction over the last two years, with the unveiling of the strategic plan Vision and Actions Outlined on Jointly Building Silk Road Economic Belt and 21st-Century Maritime Silk Road by the National Development and Reform Commission, Ministry of Foreign Affairs and Ministry of Commerce in March 2015. Industries such as infrastructure and logistics, tourism, clean energy and financial and professional services are expected to benefit from the initiative.

The third government-to-government project, entitled the “China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity,” was signed in November 2015 and aims to enhance modern connectivity and services in Chongqing. 11 memoranda of understanding were also signed to strengthen the collaboration between the two governments in four prioritized areas: financial services, aviation, transport and logistics, and information & communications technology.

b) Is the government generally supportive of COI? Which governmental and regional bodies are responsible for driving COI in Singapore?

The Singapore government and its laws are generally pro-business. Singapore has been China's top trading partner since 2013, with total trade amounting to S$121.5 billion in 2014.

While there are no specific bodies dealing with COI exclusively, government agencies such as SPRING Singapore, IE Singapore and the Economic Development Board (EDB) provide assistance with the setting up of businesses in Singapore.

c) What are some notable Chinese investments or M&A that have recently taken place in Singapore?

In 2014, Alibaba Group Holding Ltd. invested $249 million to acquire a 10.35% stake in Singapore Post Ltd. In 2015, Alibaba and SingPost jointly announced that Alibaba would invest a further $138.6 million into SingPost and S$92 million into Quantum Solutions International (a fully-owned e-commerce logistics subsidiary of SingPost) in addition to establishing a joint strategic business development framework.

On December 12, 2014, China Everbright Water Holdings Ltd. completed a reverse takeover of Hankore Environment Tech Group Ltd. for the sum of S$1.2 billion, creating one of the largest water treatment groups in the PRC.

Section 2: Investment vehicles and capital

a) What are the most common legal entities and vehicles used for COI in Singapore? How long do they take to become operational?

There are limited restrictions on foreign ownership of companies and businesses established in Singapore. Generally, local entities and businesses can be up to 100% owned by a foreign national or company, save for certain special sectors.

Singapore has a broad range of corporate and investment vehicles, such as sole proprietorships, partnerships and companies.

A private limited company is one of the most popular forms of business and investment vehicles used in Singapore. It is a separate legal entity and shareholders are not liable for the company's debts beyond the amount of share capital they have contributed or agreed to contribute.

Generally, a company or business can be set up within one to two weeks.

If certain special sectors are involved, it may take between 14 days to two months if the application needs to be referred to another agency for approval or review. For example, if the intention of the branch of a foreign company is to carry out activities involving the setting up of a private school, the application will be referred to the Ministry of Education.

b) What are the key criteria for establishment and operation of these vehicles that are relevant to COI (e.g. capital requirements, local directors)?

Singapore's legal framework and governmental policies do not require any specific authorization to invest in the country. There are in general, no restrictions, approvals or registrations specifically aimed at non-Singaporeans investing in Singapore, except where certain special sectors are involved.

Any individual, firm or corporation intending to carry out business as a foreign company must be registered with the Accounting & Corporate Regulatory Authority (ACRA).

A Singapore-incorporated company must have at least one local director.

A foreign company that wants to set up a branch for its business in Singapore will need to appoint two local agents to act on its behalf. These agents must be Singapore residents, that is, either citizens or permanent residents, or foreigners with employment or dependent's passes.

Special licenses are required for some businesses such as banking, insurance and stock broking, as well as for the manufacture of goods such as cigars and firecrackers.

Minimum paid-up capital for registration of a Singapore company is S$1 (Rmb5). Paid-up capital (also known as share capital) can be increased any time after the incorporation of the company. There is no concept of authorized capital for Singapore companies.

Section 3: Investment approval

a) Explain the process and timing for foreign investment approval (including any national security review).

There are in general, no restrictions, approvals or registrations aimed specifically at foreign investors in Singapore.

Certain industries, such as banking, broadcasting, defense and legal services, will require governmental approval.

b) Briefly explain the investment restrictions for any specially regulated/restricted sectors (e.g. natural resources, financial services, telecom and infrastructure), including whether the government is entitled to any special rights (e.g. golden shares) in those sectors.

There are restrictions or requirements that apply to certain special sectors.

The following shareholding thresholds for these companies require prior MAS or Minister for Finance approval:

• 5%,12% and 20% of any bank incorporated in Singapore.
• 5% of any insurance company incorporated in Singapore.
• 5% of any finance company incorporated in Singapore.
• 5% and 12% of any newspaper or television broadcasting company in Singapore.

i. Broadcasting: In accordance with the Broadcasting Act, no company shall be granted or hold a relevant license, if the Minister is satisfied that any foreign source(s) holds not less than 49% of the shares in the company, or its holding company, or is in a position to control voting power of not less than 49% in the company or its holding company.

ii. Newspapers: Newspaper companies are mandated by law to issue management shares equal to 1% or more of its paid-up capital. Management shareholders are entitled to 200 votes for each management share held on any resolution relating to the appointment or dismissal of any director or staff member of the company. Management shares may only be issued or transferred to a person or company who has received approval from the Minister, in accordance with the Newspapers and Printing Presses Act.

iii. Banking: MAS requires all banks in Singapore to comply with requirements on capital adequacy, asset maintenance, liquidity and limits on credit and investment exposures. Foreign bank branches are required to maintain a proportion of the assets of their Singapore branch in safe and liquid Singapore dollar-denominated and Singapore-domiciled assets.

iv. Legal services: Foreign law firms require a Qualifying Foreign Law Practice license to practice domestic law in permitted areas of legal practice, which exclude areas such as conveyancing and criminal law.

v. Insurance: Insurers require a license to operate in Singapore or may operate in Singapore under a foreign insurer scheme.

vi. Telecommunications: There is full competition in Singapore's telecommunications sector and there are no direct and indirect foreign equity limits for all public telecommunications service licenses.

c) Which authority oversees competition clearance, when is notification necessary, and what is the merger control process (including whether pre- or post-closing)?

Mergers and acquisitions which have resulted, or may be expected to result, in a substantial lessening of competition within any market for goods or services in Singapore are prohibited under Section 54 of the Competition Act (Chapter 50B), unless excluded or exempted.

While notifying and obtaining prior approval of the Competition Commission of Singapore (CCS) are not required for a merger, it is advisable for parties to do so to obtain provisional immunity from financial penalties in certain circumstances.

The process of review by the CCS has two phases:

• Phase 1 entails a quick review and allows merger situations which clearly do not raise competition concerns to proceed without undue delay. The CCS normally completes a Phase 1 review within 30 working days.
• If the CCS is unable to form a view during Phase 1, it will proceed to a more extensive Phase 2 review and require further information. The CCS normally completes a Phase 2 review within 120 working days.

d) Are there any unique processes that could potentially block a foreign investment (e.g. consent from labor unions)?

Given Singapore's favorable legal framework and policies towards foreign investors, this is unlikely to be an issue.

e) Are there any approval requirements when a foreign investor increases or exits its investments?

Generally, there are no approvals that specifically apply to a foreign investor increasing or exiting its investment. In certain circumstances, specific laws or rules may apply. For example, where a foreign investor acquires more than 30% of a public listed company, it will have to comply with the laws and rules applicable to the takeover of a listed company.

Section 4: Tax and grants

a) Are there tax structures and/or favorable intermediary tax jurisdictions that are particularly useful for FDI into Singapore?

Singapore is generally a useful and popular jurisdiction in the context of tax planning and structuring.

b) What are the applicable rates of corporate tax and withholding tax on dividends?

The corporate tax rate in Singapore is 17%, with effect from the year of assessment 2010.

Singapore has adopted a one-tier corporate tax system in which tax paid by a Singapore resident company on its chargeable income is a final tax. Thus, dividends are not subject to corporate income tax at the shareholder level.

c) Does the government have any FDI tax incentive schemes in place?

The following is a list of tax incentive schemes that may be relevant in the context of COI:

a. Regional/International Headquarters Award: Reduced corporate tax rate of 0% to 15% on incremental income from qualifying activities, for companies intending to set up or shift their regional/internal headquarters to Singapore.

b. Pioneer Incentive: Corporate tax exemption on income from qualifying activities, for industries which are not carried out in Singapore on an adequate scale and for which there are favorable prospects for development.

c. Development and Expansion Initiative: Reduced corporate tax rate of 5% or 10% on incremental income from qualifying activities, for companies that submit plans for substantive commitments in manufacturing or growing leading-edge activities or capabilities in Singapore.

d. Financial & Treasury Centre (FTC) Tax Incentive: Reduced tax rate of 8% on fees, interest, dividends and gains from qualifying services/activities. Funds from approved offices and associated companies must be obtained directly by the FTC.

e. Financial Sector Incentive: Reduced tax rate of 10% for fund management and investment advisory activities, subject to certain conditions.

d) Other than through taxes, does the government provide any other financial support to investors? If so, please provide an overview.

Financial incentives are generally aimed at supporting the development of innovation and technology in Singapore. In the context of COI, the Mergers & Acquisitions Scheme may be relevant.

e) Are there any reciprocal tax arrangements between Singapore and China? If so, how can they aid investors?

The Singapore-China Avoidance of Double Taxation Agreement was updated in 2007. The new Agreement will continue to help investors avoid the burden of double taxation of income and further facilitate the cross-border flow of trade, investment, financial activities and technical know-how between the two nations.

Section 5: FX controls and local operations

a) What foreign currency or exchange restrictions should investors be aware of?

There are no foreign currency restrictions on non-residents.

Under MAS Notice 757, non-residents can freely remit funds in and out of Singapore and are free to purchase or sell Singapore dollars in the foreign exchange market.

Pursuant to Section 55 of the Banking Act (Chapter 19), certain restrictions apply to non-resident financial institutions.

b) Are there any legal restrictions on bringing in foreign workers? How difficult is it to secure expatriate visas for shareholder representatives, senior managers and workers in practice?

Foreign nationals must obtain a work pass from the Ministry of Manpower. Primarily, the Singapore government has a policy of encouraging well-qualified and skilled foreigners who can contribute to the economy to join the workforce in Singapore. Companies can apply for Employment Passes for foreign professionals who, among meeting other criteria, earn at least S$3,300 (Rmb16,400) a month.

The EDB has also introduced a permanent residency scheme (Global Investor Programme) which targets foreigners with outstanding entrepreneurial ability and substantial financial resources to invest in Singapore.

c) What are the requirements and process for purchasing commercial property?

There are no restrictions on foreign investors who wish to purchase commercial property in Singapore.

Section 6: Dispute resolution

a) Does Singapore have a bilateral investment protection treaty with China or other locations commonly used for investing into the country?

Singapore entered into a bilateral investment treaty with China in 1986. It applies to inbound investments made by nationals and companies in the PRC which are specifically approved by the Singapore authorities and vice versa (Article 2(1)).

b) How efficient are local courts' enforcement and dispute resolution proceedings, and are there any procedural features foreign investors must be aware of?

The Singapore judicial system is generally recognized in international third party surveys (such as those conducted by the Political and Economic Risk Consultancy and Economist Intelligence Unit) as efficient, experienced, well-qualified and independent, especially in commercial and business matters.

c) Do local courts respect foreign judgments and are international arbitration awards enforceable?

Singapore has arrangements for the reciprocal enforcement of judgments with various countries under the Reciprocal Enforcement of Commonwealth Judgments Act (Chapter 264) (RECJA) and Reciprocal Enforcement of Foreign Judgments Act (Chapter 265) (REFJA).

Singapore recently gave effect to the Hague Convention on Choice of Court Agreements (Hague Convention) on April 14, 2016. Where a judgment (including a non-money judgment) is granted by a court of another Hague Convention state, the judgment shall be recognized and enforced in the other contracting states.

There are currently no such arrangements in place with China. A judgment from a Chinese court may be enforced in Singapore by way of commencing an action for a claim on the judgment sum.

Arbitration awards are enforceable if the award was made in a country signatory to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958) (New York Convention). Foreign awards made in non-New York Convention countries may be enforced in Singapore, but only in the same manner as a foreign judgment would be, with the leave of the High Court.

d) Are local judgments and arbitration awards from Singapore generally enforceable in other jurisdictions?

If the RECJA or REFJA apply, Singapore superior court judgments are enforceable in RECJA or REFJA countries.

Singapore is a party to the New York Convention, and arbitral awards from other member states are reciprocally enforceable in Singapore. In addition, the International Arbitration Act (Chapter 143A) allows for Singapore awards to be authenticated by a certifying authority if needed for enforcement processes abroad.

Author biographies

Joseph He

Joseph He Jun is the Joint Head of the China Practice and a partner in both the Corporate/Mergers & Acquisitions and the Capital Markets Practices.

Joseph has been involved in significant transactions such as Shandong Delisi Food Co. Ltd.'s proposed acquisition of a 45% stake in Bindaree Beef Group for A$140 million and Surbana International Consultants Holdings Pte. Ltd.'s acquisition of Sinosun Architects & Engineering Co. Ltd.

Joseph has acted for Singapore-Sichuan Investment Holdings Pte. Ltd. on its proposed Rmb20 billion development of the Singapore-Sichuan Hi-Tech Innovation Park located in the Chengdu Hi-Tech Zone.

Joseph has been recognized by Best Lawyers as a leading lawyer in Singapore for corporate law and capital markets, as well as in the PRC by China Law & Practice's Annual Review 2015 in the areas of capital markets and corporate/M&A.

Gerry Gan

Gerry Gan is the Joint Head of the China Practice and a partner in the Corporate/Mergers & Acquisitions Practice. His main practice areas are M&A (involving public and private companies), equity capital markets (IPOs and private placements), and general corporate law.

Gerry has acted for HanKore Environment Tech Group Ltd., a company listed on the Singapore Exchange, in its S$1.2 billion acquisition of the entire issued and paid-up share capital of China Everbright Water Investments Ltd. He also acted for China Investment Corporation on its acquisition of a 14.96% stake in Noble Group Ltd. for $850 million, a landmark investment by the PRC sovereign wealth fund.

Gerry has received numerous awards including being recommended as a leading lawyer in the PRC by Asialaw Profiles 2016, and China Law & Practice's Annual Review 2015 in capital markets and corporate/M&A.

新加坡

何军 和 颜建堃

王律师事务所

第一节：中国境外投资

1. 新加坡哪些主要行业吸引中国境外投资，或者说政府希望将中国境外投资吸引到哪些主要行业？

中国对城镇化和扩大内需的专注给新加坡带来了诸多商机。

2016年6月，新加坡金融管理局局长孟文能先生勾划了四个潜在的合作领域：资本管理、风险管理、基础设施融资和资产管理。

下表按行业和年度列出了在新加坡的中国境外投资。

来源：新加坡统计局

2013年习主席提出的“一带一路”计划在过去两年中，随着国家发改委、外交部和商务部在2015年3月联合发布策略计划《推动共建丝绸之路经济带和21世纪海上丝绸之路的愿景与行动》，已经开始付诸行动。基础设施和物流、旅游业、清洁能源、金融和专业服务等行业预期将受益于这个计划。

2015年11月，中新签署了题为《中新 (重庆) 战略性互联互通示范项目》的第三个政府对政府项目，该项目旨在提高重庆的现代化互联和服务水平。同时还签署了11份谅解备忘录，以加强两国政府在四个优先领域的合作，此四个领域是：金融服务、航空、运输物流和信息通信技术。

2. 总体来说，政府支持中国境外投资吗？哪个政府和区域性机构负责促进中国在新加坡的投资？

新加坡政府及其法律总体而言是亲商的。新加坡自2013年起成为中国的头号贸易伙伴，2014年总贸易额达1215亿新元。

新加坡虽然没有专设机构负责中国境外投资，但有新加坡标准、生产力与创新局、新加坡国际企业发展局和新加坡经济发展局等多个政府部门协助企业在新加坡落户。

3 .最近中国在新加坡进行了哪些重大的投资或并购交易？

2014年，阿里巴巴集团控股有限公司投资2.49亿美元收购了新加坡邮政10.35%股权。2015年，阿里巴巴和新加坡邮政联合宣布阿里巴巴将再向新加坡邮政投资1.386亿美元，同时向新加坡邮政全资拥有的电子商务物流公司冠庭国际物流投资9200万新元，以建立一个联合战略业务发展框架。

2014年12月12日，中国光大水务控股有限公司以12亿新元完成反向收购汉科环境科技集团有限公司，建立中国最大的水处理集团公司之一。

第二节：投资工具及资本

1. 中国境外投资在新加坡最常用哪些法律实体和工具？要多少时间便可投入运作？

外资对在新加坡设立的公司和业务的所有权只受到很少限制。一般而言，除个别特殊行业外，外国人或外国公司可以全资拥有本地实体和业务。

新加坡有广泛的公司形式和投资工具，例如个人独资企业、合伙企业和公司。

私营有限公司是新加坡最多商家采用的经商和投资工具之一。它是独立的法律实体，股东对超过其已投入或承诺投入的股本的债务不承担责任。

一般而言，公司或业务可以在一两周内设立。

如果涉及某些特殊行业，设立申请需要转送另一机构审批或审查，则可能需要14天至两个月不等。例如，如果外国公司的分支机构要从事设立私人学校的业务，申请书会转送教育部。

2. 关于这些投资工具的设立和营运，有哪些主要规定适用于中国境外投资 (例如，资本要求、本地董事) ？

新加坡的法律框架和政府政策对外来投资不需要任何特定的允许。大体上，对于非新加坡人在新加坡的投资，除非涉及到某些特殊行业，否则不存在任何特别针对外国人的限制、审批或登记。

任何个人、机构或公司要以外国公司名义开展业务，必须向新加坡会计与企业管理局登记。

在新加坡注册成立的公司必须有至少一名本地董事。

外国公司要在新加坡设立分支机构从事其业务，需要任命两个本地代理人代理其事务。这些代理人必须是新加坡居民，即公民或永久居民，或者是持有工作执照或家属执照的外国人。

从事银行、保险、证券经纪业务，以及生产雪茄和烟花之类产品的制造业务，需要办理特殊的执照。

注册一家新加坡公司所需的最低实缴资本是1新元 (人民币5元) 。实缴资本 (即股本) 可以在公司注册成立之后任何时候增加。新加坡公司没有注册资本的概念。

第三节：投资审批

1. 请说明审批外国投资(包括任何国家安全审查) 的程序和时间。

一般而言，新加坡没有特别针对外国投资者的限制、审批或登记。

某些行业，例如银行、广播、国防和法律服务，需要政府审批。

2. 请简单说明一下对任何受特殊监管/限制的领域(例如自然资源、金融服务、电信和基础设施)的投资限制，包括政府是否在这些行业里有特殊权利(例如黄金股份) 。

有些限制或规定适用于某些特殊领域。

对下述公司的持股达到以下门槛，则需要金融管理局或财政部预先批准：

• 对在新加坡注册成立的任何银行持股5%、12% 及 20%。
• 对在新加坡注册成立的任何保险公司持股5%。
• 对在新加坡注册成立的任何财务公司持股5%。
• 对在新加坡的任何报社或电视广播公司持股5% 及12%。

i. 广播：根据《广播法》，如果部长确信，任何外国来源持有该公司或其控股公司不少于49%的股份，或者控制了该公司或其控股公司不少于49%的投票权，则该公司不得获发或持有有关的执照。

ii. 报社：法律要求报业公司发行至少相当于其实缴资本1%的管理股。管理股股东所持每股对任免公司任何董事或员工的任何决议有200票的投票权。根据《报纸和出版社法》，管理股只可发行或转让给获得部长批准的个人或公司。

iii. 银行：金融管理局要求新加坡所有银行遵守关于资本充足率、资产维护、流动性和信贷及投资风险限额的规定。外国银行分行必须有一定比例的资产是安全的、以流动的新元计价且位于新加坡的资产。

iv. 法律服务：外国律师事务所必须取得合格外国法律执业执照才能在允许的法律执业领域内从事国内法律事务，物业转让和刑法等是在允许的法律执业领域之外的。

v. 保险：保险公司必须持有执照才可在新加坡营运，或者通过外国保险公司计划在新加坡营运。

vi. 电信：新加坡电信行业是完全没有竞争限制的，所有公共电信服务执照都不存在直接或间接的外资股权限制。

3. 哪个机构负责竞争审查？什么情况下必须报告？并购控制程序是怎样的 (包括是否在成交前或成交后控制) ？

根据《竞争法》(第50B章) 第54条，凡已导致或预期会导致新加坡任何产品或服务市场内的竞争出现大幅度减弱的兼并和收购，皆被禁止，除非被免除或豁免。

虽然并购交易不需要预先向新加坡竞争委员会 (CCS) 通知和报批，当事方最好还是上报，以便在某些情况下可暂时豁免受到财务处罚。

CCS的审查程序有两个阶段：

• 阶段1是一个快速审查，如果并购的情况明显不引起竞争问题，可获准继续进行，以免出现不必要的延误。CCS通常在30个工作日内完成阶段1的审查。
• 如果CCS在阶段1审查中无法形成意见，则进行更深入的阶段2审查和要求提供更多信息。CCS通常在120个工作日内完成阶段2审查。

4. 是否存在任何特别的程序会拦阻外国投资(例如需要工会的同意) ？

由于新加坡的法律框架和政策是优待外国投资者的，这不太可能成为问题。

5. 对外国投资者增资或撤资有什么审批要求吗？

一般而言，不存在特别针对外国投资者增资或撤资的审批规定。在某些情况下，特定法律或规则可能适用。例如，如果外国投资者收购一个公开上市公司30%以上的股权，就必须遵守适用于上市公司收购的法律和规则。

第四节：税收及补助

1. 有没有一些税务结构或有利的中间税务管辖区，是对外商直接投资新加坡尤其​​有用的？

在税务规划和设计方面，新加坡总体来说是一个有用和受欢迎的司法管辖地。

2. 企业所得税和股息预提税的适用税率是多少？

新加坡的企业所得税税率是17%，从2010估税年度起生效。

新加坡采用单阶梯的企业所得税制度，新加坡居民企业为其应纳税收入缴纳的税就是最终的税。因此，在股东层面，股息不征收企业所得税。

3. 政府是否有实施任何外国直接投资税务激励计划？

以下所列是可能与中国境外投资有关的税务激励计划：

a. 地区/国际总部计划：计划将其地区/国际总部设在或迁至新加坡的公司，其合资格业务产生的新增收入享受0%至15%的减免企业所得税税率。

b. 先驱企业奖励计划：在新加坡规模不足且发展前景良好的行业，其合资格业务的所得免缴企业所得税。

c. 发展与扩展奖励计划：申请企业需提交计划书阐述对于在新加坡制造或提升尖端技术活动或技能方面的投资承诺，其合资格业务产生的新增收入享受5%至10%的优惠企业所得税税率。

d. 金融与资金管理中心 (FTC) 税务优惠：合资格服务/业务产生的收费、利息、股息和收益享受8%的优惠税率。来自经批准的办事处和关联公司的资金必须是FTC直接获取的。

e. 金融行业激励计划：基金管理和投资顾问业务享受10%的优惠税率，但受若干条件限制。

4. 除了税务之外，政府对投资者还提供其他财务支持吗？如有，请加以概述。

财务激励一般旨在支持企业在新加坡进行创新和技术开发。对于中国境外投资，《并购计划》可能适用。

5. 新加坡与中国之间是否有任何互惠税务安排？如有，这些安排如何帮助投资者？

《新加坡-中国避免双重征税协定》在2007年经过更新。新的协议继续帮助投资者避免所得收入受到双重税负，进一步方便了两国间贸易、投资、金融业务和技术诀窍的跨境流动。

第五节：外汇管制及本地经营

1. 有什么外币或外汇限制是外国投资者需要注意的？

对非居民没有外币限制。

根据《金融管理局通知757》，非居民可自由汇款进出新加坡，并且在外汇市场上自由买卖新元。

根据《银行法》 (第19章) 第55条，有若干限制适用于非居民金融机构。

2. 对输入外国劳工有什么法律限制？在操作上为股东代表、高级经理和员工取得外国员工签证有多困难？

外国国民必须从人力资源部取得工作准证。新加坡政府的政策主要是鼓励具备良好资格和技能、能够对经济作出贡献的外国人加入新加坡的劳动人口。公司可以外国专业人员申请工作准证，需要满足的条件之一是其月薪至少达到3300新元 (人民币16,400元) 。

经济发展局还针对具有杰出创业能力和拥有充足财力的外国人在新加坡投资推出了一个永久居留权计划 (全球投资者计划) 。

3. 购置商业物业有什么规定和程序？

外国投资者在新加坡购买商业物业是不受限制的。

第六节：争议解决

1. 新加坡是否有和中国或其他地方签订关于投资新加坡常用的双边投资保护协定？

新加坡与中国在1986年订立了双边投资协定。该协定适用于一方国民和公司经另一方当局专门批准的在另一方国内进行的投资 (第二条 (一) ) 。

2. 当地法院的执行和争议解决程序的效率如何？有什么特别的程序是外国投资者必须注意的？

国际第三方进行的调查 (例如政治与经济风险顾问公司和经济学人智库进行的调查) 一般都认为新加坡的司法系统是高效率、经验丰富、称职和独立的，特别是在处理商务案件方面。

3. 当地法院尊重外国判决吗？可执行国际仲裁裁决吗？

根据《英联邦判决相互执行法》 (第264章) (RECJA) 和《外国判决相互执行法》 (第265章) (REFJA) ，新加坡与多个国家有互相执行判决的安排。

新加坡于2016年4月14日开始执行《海牙选择法院协议公约》 (海牙公约) 。海牙公约一公约国的法院作出的判决 (包括非金钱相关判决) 应在其他公约国得到承认和执行。

目前与中国还没有这样的安排。中国法院作出的判决可以通过在新加坡对判定款项提起追讨诉讼得以执行。

如果仲裁裁决是在《承认及执行外国仲裁裁决的1958年纽约公约》 (纽约公约) 的签字国作出的，是可以执行的。在非纽约公约签字国作出的仲裁裁决，如果有高等法院的特别许可，也可以在新加坡执行，但只能按照执行外国判决的方式执行。

4. 新加坡当地的判决和仲裁裁决一般会在其他司法管辖地执行吗？

在 RECJA 或 REFJA 适用的情形下，新加坡最高法院判决可以在 RECJA 或 REFJA 国家执行。

新加坡是纽约公约的公约国，其他公约国的仲裁裁决在新加坡是可以互相执行的。此外，《国际仲裁法》 (第143A章) 允许新加坡的仲裁裁决在海外执行程序需要时由认证机构予以认证。

作者简历

何军

何军律师是中国业务组的联席主管，以及负责处理公司/并购及资本市场业务的合伙人。他主要负责的业务范围包括企业融资、股票资本市场，以及在中国的外商投资、并购及房地产开发。

何律师曾参与多个重大项目，例如山东得利斯食品股份有限公司拟以1.4亿澳元收购Bindaree Beef Group 45%股权的项目，以及盛邦国际咨询私人有限公司收购Sinosun Architects & Engineering Co. Ltd.的项目。

何律师还曾处理诸多中新合作项目，包括作为新加坡-四川投资控股私人有限公司代表律师参与该公司提出的开发位于中国成都高新区内的新加坡-四川创新科技园项目，该项目总投资为人民币200亿元。

何律师也在很多大型会议上就中国相关主题发言，获得过诸多殊荣，例如获《最佳律师》杂志评为新加坡公司法和资本市场领域的优秀律师，获《China Law & Practice》杂志的《2015年年度回顾》评为资本市场和公司/并购领域的优秀律师。

颜建堃

颜建堃律师是中国业务组的联席主管，以及负责处理公司/并购业务的合伙人。他主要负责的业务范围包括（涉及公开和非公开招股公司的）并购、股票资本市场（首次公开发行及定向募集）和一般公司法。

颜律师曾作为新加坡交易所上市公司汉科环境科技集团有限公司的代表律师参与了该公司提出的以12亿新币收购中国光大水务投资有限公司的全部已发行实缴股份的交易。他还作为中国投资有限责任公司的新加坡法律顾问参与了中国投资有限责任公司以8.5亿美元收购来宝集团 14.96%股权的交易，这是中国主权财富基金一项里程碑式的投资。

颜律师获得过诸多奖项，包括获2016年《Asialaw Profiles》评为优秀律师，获《China Law & Practice》杂志的《2015年年度回顾》评为资本市场和公司/并购领域的优秀律师。

颜律师分别为CCH出版的《中国境外投资：法律及业务指南》，以及《China Law & Practice》出版的《中国境外投资指南2013》撰写新加坡的章节。

Joseph He and Gerry Gan

WongPartnership LLP

Section 1: China outbound investment

a) What are the key sectors in Singapore that attract, or to which the government is seeking to attract, China outbound investment (COI)?

China's focus on expanding urbanization and booming domestic consumption present many opportunities for Singapore.

In June 2016, Mr. Ravi Menon, managing director of the Monetary Authority of Singapore (MAS) outlined four areas of potential partnership: capital management, risk management, infrastructure financing and asset management.

This table illustrates COI in Singapore, broken down by sector over the previous years.