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Volume 2, Issue 4. April 2013

RIKVIN PTE LTD

20 Cecil Street, #14-01 Equity PlazaSingapore 049705(Next to Republic Plaza and Raffles Place MRT)

Charting New Lines

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Email: Website:

(+65) 6320 1888(+65) 6438 2436

info@rikvin.comwww.rikvin.com

Copyright © 2013 Rikvin Pte Ltdwww.rikvin.com

R i k v i n C o n n e c t . V o l u m e 2 , I s s u e 4 . A p r i l 2 0 1 3

FO R E WO R D : Charting New Lines Amid a Challenging YearAs it turns out, the first quarter of 2013 hasn’t been looking so good.

RIKVIN SERVICES

• Company Registration

• Singapore Work Visas

• Business Services

• Accounting Services

• Offshore Company Setup

Visit www.rikvin.com for more information.

In this Issue:

Foreword: Charting New Lines Amid a Challenging Year (page 2)

Singapore Deepens Economic Ties with Myanmar (page 3)

Iskandar to Complement Singapore (page 3)

Singapore Assures US: “We will not close shop!” (page 4)

Rikvin Publishes Guide on Singapore Immigration Options (page 4)

EntrePass Scheme Gets Tougher (page 5)

In the west, Cyprus’ investors stand to lose some of their money following EU’s bailout. Analysts portend that Slovenia or Portugal could be next in line. So where is the silver lining?

Here, it seems that all is quiet, or rather, more peaceful, on the eastern front. Some may see that this is merely the lull before the storm, and that the East, which has been experiencing relative peace and growth, will feel the reverberations soon enough.

We err on the side of caution, but we also understand that this is not the time to throw in the towel. Every challenge presents opportunities, and fortune comes to those who keep their chin up and keep trying. Many of you may be opting to wait and see before investing or making your next move. Don’t lose sight of your goals. Pivot, ask for advice from those who know or take some time to think things through.

And if you need inspiration, look to our national agencies’ tenacity in maintaining bilateral relations. This month, we share with you some of the measures Singapore has taken to strengthen its relations with key economic partners. We hope that these articles will give you a clearer picture of the country’s priorities and will inspire you to chart new lines.

Yours sincerely,

Christine Lim General Manager, Rikvin

Copyright © 2013 Rikvin Pte Ltdwww.rikvin.com

R i k v i n C o n n e c t . V o l u m e 2 , I s s u e 4 . A p r i l 2 0 1 3

Iskandar Malaysia to Complement Singapore

Singapore Deepens Economic ties with Myanmar

In a bid to deepen their economic ties, Singapore and Myanmar have recently forged four partnerships in the areas of telecommunications, hospitality, consumer and business services. IE Singapore, the country’s

agency responsible for driving its external economy, has also opened its 37th Overseas Center in Yangon.

At the same time, the Singapore Business Federation (SBF) and Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), have signed a Memorandum of Understanding (MOU) to develop an

International Business Fellowship (IBF) program for Singapore-based companies interested in acquiring business knowledge and building networks in Myanmar.

Rikvin recognizes that these steps build on Singapore’s business delegations to Myanmar last year. Explaining in detail, Ms. Christine Lim, General Manager of Rikvin said, “Singapore’s interest in Myanmar has earned it first-mover benefits. As a frontier economy, Myanmar presents many opportunities to Singapore firms that can contribute to its core goals and development needs.”

To find out more about the opportunities and challenges of doing business in Myanmar, please visit: www.rikvin.com/press-releases/myanmar-singapore-companies/

“As a frontier economy, Myanmar presents many opportunities to Singapore firms that can contribute to its core goals and development needs.”

According to a recently released “On the Ground” report by Standard Chartered Bank, the further developed Iskandar Malaysia (IM) will complement Singapore as a business location.

Analysis by Singapore company registration specialist Rikvin shows that IM offers some benefits that Singapore cannot offer either due to its land scarcity or its economic restructuring. In turn, these factors make the two economic centers complementary business partners in the wake of Southeast Asia’s rise.

Commenting further, Ms. Christine Lim, General Manager of Rikvin said, “These factors illustrate how Iskandar fills the gaps for companies that have a presence in Singapore. Iskandar’s proximity to Singapore as well as the savings it offers in terms of land and labour complement the needs of businesses that want the best of both worlds. This in turn could spell good news

for investors who place themselves in Iskandar without forgoing their shopfront in Singapore.”

“At the same time, Iskandar could ease some of the pain points that have been brought up by firms and members of Singapore’s population. We also anticipate Singapore buyers to tap property there, in light of higher prices here,” affirmed Ms. Lim.

To learn more about the merits of doing business in Iskandar, please visit: www.rikvin.com/press-releases/iskandar-malaysia-complement-singapore/

“Iskandar’s proximity to Singapore as well as the savings its offers in terms of land and labour complement the needs of businesses that want the best of both worlds.”

Copyright © 2013 Rikvin Pte Ltdwww.rikvin.com

R i k v i n C o n n e c t . V o l u m e 2 , I s s u e 4 . A p r i l 2 0 1 3

Rikvin has published its Guide on Singapore Immigration Options. The succinct Guide provides an overview of the various Singapore visa avenues for professionals, entrepreneurs and High Net Worth individuals (HNWIs) who wish to move to Singapore.

For professionals, the options include the Singapore Employment Pass (EP), Personalized Employment Pass (PEP) and S Pass. For entrepreneurs and investors, they are the Singapore EntrePass and Global Investor Program (GIP).

Analysis by Rikvin shows that as Singapore PMEs (Professionals, Managers and Executives) call on the government to level the playing field and remove barriers to fair employment practices in Singapore, the country is trying to strike a balance between doing that and maintaining its appeal to companies.

Ms Christine Lim, General Manager of Rikvin said,

“Although the government is making efforts to right some wrongs, especially in terms of hiring discrimination that marginalizes qualified Singaporeans, it is still trying to keep Singapore attractive to investors, entrepreneurs and professionals who want to contribute to the city state and inject some vibrancy to its economy. This guide serves to highlight that opportunities are still available to those who complement the needs of the country.”

For more information, visit: www.rikvin.com/press-releases/rikvin-guide-singapore-immigration-options/

Rikvin Publishes Guide on Singapore Immigration Options

Singapore Assures US: “We will not close shop!”

During his visit to Washington D.C. recently, Singapore Prime Minister Lee Hsien Loong affirmed to 300 business leaders that the city state

is open for business, and will continue to welcome talent and investments.

Rikvin recognizes that this affirmation bodes well for US companies that wish to have a presence in Singapore. Furthermore, as a node in the eastern hemisphere, and an intimate ally of the US, Singapore has a vested interest in the superpower’s developments as well as growth.

Commenting further, Ms. Christine Lim, General Manager of Rikvin said, “As Singapore finds its balance amid restructuring, the message is clear. US entrepreneurs are welcome to form a Singapore company and US

skilled talent are welcome to work here, in accordance to the Singapore work visa regulations. As PM Lee said, although Singapore cannot promise to be the cheapest place to do business, it can offer efficiency, predictability and high standards of excellence. In turn, the presence of US firms could create meaningful exchange opportunities for Singaporean professionals. We hope that the US and Singapore will work together to help each other through this challenging period.”

In 2011, Singapore was also the United States’ 11th largest export market and 15th largest trading partner, serving as a major distribution center for US companies interested in selling in Asia. In 2012, the US was Singapore’s fourth largest trading partner in 2012 with total trade amounting to S$75.6 billion, according to data from IE Singapore.

For more information, visit: www.rikvin.com/press-releases/singapores-open-for-us-companies/

“As Singapore finds its balance amid restructuring, the message is clear.”

Copyright © 2013 Rikvin Pte Ltdwww.rikvin.com

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E nt re Pa s s S c h e m e G e t s To u g h e r

The Ministry of Manpower (MOM) has announced that it has revised the entry and renewal criteria for new EntrePass applications with effect from 1 September 2013.

Analysis by Rikvin shows that the new framework will only make room for foreign firms that have high growth potential or innovation at the core of their business. This framework, in turn, dovetails with MOM’s new strategy of raising the quality of Singapore’s foreign workforce in a bid to create quality growth for Singaporeans.

With effect from 1 September 2013, businesses must meet at least one of these requirements:

• Funded by a recognised third-party venture capitalist or business angel;

• Holds a nationally-recognised proprietary or licensed Intellectual Property (IP);

• Has research collaboration with recognised research institutions such as A*STAR or a local tertiary institution;

• Is an incubatee at a government-approved incubator; or

• Receives support from a Singapore Government agency.

“This signals two things,” added Ms. Lim. “The first is that Singapore policymakers have defined the types of business activities that it deems as integral to the new vision of quality growth. This then means that technology and research enterprises whose core functions are centered in innovation or those that are backed by the

government or approved funders would have a better chance of having the EntrePass application approved.”

“On the bright side, this means that over the coming years, we could see employment creation through these businesses. The challenge then is to ensure that we have the right people to fill in those positions.”

“On the other hand, the additional criteria immediately excludes many types of small business and micro-enterprises from the equation and may repel potentially interesting businesses that do not fit this mould but do have something of value to contribute to our social fabric. It also remains to be seen whether it would make business sense to set up a company in Singapore when the bar is raised even higher. Under the refined program, instead of getting a 2-year validity, entrepreneurs will have to show results within a year. This makes things even harder not only for the EntrePass holder, but also the local entrepreneur, who faces new and perhaps bigger competition,” added Ms. Lim.

For more information, visit: www.rikvin.com/press-releases/foreign-entrepreneurs-tougher-criteria/

“On the bright side, this means that over the coming years, we could see employment creation through these businesses. The challenge then is to ensure that we have the right people to fill in those positions.”