{"id":5658,"date":"2022-09-14T11:51:21","date_gmt":"2022-09-14T11:51:21","guid":{"rendered":"https:\/\/www.elitestage.cn\/?p=5658"},"modified":"2022-09-14T13:43:24","modified_gmt":"2022-09-14T13:43:24","slug":"gaming-companies-favour-to-collaborate-with-singapore","status":"publish","type":"post","link":"https:\/\/www.elitestage.cn\/ja\/gaming-companies-favour-to-collaborate-with-singapore\/","title":{"rendered":"Gaming Companies Favour to Collaborate with Singapore"},"content":{"rendered":"
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ACTIVE PROMOTION OF THE GAMING INDUSTRY<\/strong><\/section>\n<\/section>\n
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Government agencies in Singapore like Infocomm Development Authority (IDA) and Media Development Authority (MDA) exert considerable effort to\u00a0bolster Singapore’s gaming ecosystem<\/strong>. The iN2015 Master plan laid out by the IDA consists of the Connected Games Programme, which positions the city-state as a\u00a0vibrant core for games publishing and distribution in the region<\/strong>.This is accomplished by\u00a0helping gaming companies to grow and build their capabilities. For that, the IDA strives to create\u00a0a synergistic business environment<\/strong>\u00a0where gaming companies have easy access to products, services and programmes.This is aligned with the IDA’s collaboration with the Casual Games Association, a global trade organization for\u00a0the creation of games for mass market consumers.<\/strong>\u00a0Together, they have launched the Casual Connect conferences in Asia, which accounts for the lion’s share of the global gaming industry with\u00a048.4% of market share\u00a0<\/strong>(Business Review, January 2014).The Republic has also managed to draw more than\u00a06,500 professionals from the games industry annually<\/strong>\u00a0by paving the way for these high-profile international games conferences and exhibitions in Singapore. This has solidified the\u00a0nation’s stature as a regional hub for gaming<\/strong>.<\/section>\n<\/section>\n<\/section>\n
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SINGAPORE BOOSTS SUPPORT FOR GAMING COMPANIES<\/strong><\/section>\n<\/section>\n
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The Government has not only been proactive in creating opportunities for partnerships between gaming companies, but also matches them with investors, venture capitalists and angels<\/strong>.IDA links up locally incorporated gaming companies with in-market incubators and mentors with extensive experience in the gaming business. It also allows them to participate in in-market accelerator programmes. By doing so, IDA helps gaming companies to understand their market better and obtain guidance on the technical infrastructure required for their gaming businesses.In addition, MDA also\u00a0provides grants to gaming companies to develop ideas into game design<\/strong>\u00a0under the Development Assistance and Production Assistance initiatives. When these gaming companies acquire the\u00a0intellectual property\u00a0<\/strong>(IP) rights\u00a0<\/strong>for their game designs, they can also qualify for the\u00a0Productivity & Innovation Credit (PIC)<\/strong>\u00a0that is issued by the Inland Revenue Authority of Singapore (IRAS). The PIC allows gaming businesses to enjoy\u00a0400% tax deduction<\/strong>,\u00a060% cash payout and a dollar-for-dollar matching cash bonus<\/strong>.As a result, Singapore has attracted\u00a0over 60 gaming companies<\/strong>\u00a0that are involved in the conception, publishing and servicing of games to its shores. According to the Economic Development Board (EDB), the incorporation of top-tier foreign gaming companies in Singapore include\u00a0Germany’s Real U, Taiwan’s Softworld, Italy’s Rainbow S.p.A, and Japan’s Tecmo Koei.This has allowed the games industry in Singapore to contribute\u00a0a value add of S$504 million<\/strong>\u00a0to the economy and rake in\u00a0a revenue of S$587 million<\/strong>\u00a0in 2012, according to the Deloitte Interactive Digital Media Survey 2013.<\/p>\n

\u201cAs one of the fastest growing media sectors of the nation, the gaming industry of Singapore appears highly attractive to companies that are seeking to create, publish and distribute games content. The island nation is today Southeast Asia’s gaming nerve centre because on\u00a0top of the Government’s support, it also has a world class talent base, excellent IT infrastructure, and a protective regime of IP rights”<\/strong>, said Mr. James Nuben, Head of Taxation at AsiaBiz Services.<\/p>\n<\/section>\n<\/section>\n<\/section>\n

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WORLD CLASS TALENT POOL<\/strong><\/section>\n<\/section>\n
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Singapore has managed to create\u00a0a world class talent pool for the gaming industry<\/strong>\u00a0by nurturing and upgrading the homegrown talent base, and welcoming international talent.Singapore’s Ministry of Manpower recognizes the\u00a0gaming industry as a key economic sector<\/strong>\u00a0in Singapore and has identified game designers, programmers and producers among the occupations with strategic skills in demand.In addition, it has\u00a0set up specialty schools for gaming<\/strong>\u00a0such as the Digipen Institute of Technology, and the Singapore-MIT GAMBIT Game Lab, which is a partnership between the Massachusetts Institute of Technology and the Republic. While Digipen offers degree programmes in Real-Time Interactive Simulation and Game Design, the Singapore-MIT GAMBIT Game Lab serves to explore new strategies for the conceptualization of games as a medium.<\/section>\n<\/section>\n<\/section>\n
Singapore’s corporate tax rate on chargeable income at\u00a017 percent – is one of the lowest in the world<\/strong>, attracting business owners from various countries to set up or expand their businesses in Singapore.<\/section>\n
\u00a01. Common types of companies in Singapore \u2013 What you should know<\/strong><\/section>\n
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There are three common company types in Singapore, including\u00a0Limited Liability Company,\u00a0Partnership, and\u00a0Sole Proprietorship.<\/section>\n
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In this section, let’s tap into the specific features of each type.<\/section>\n
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\u00a0Limited Liability Company<\/strong><\/section>\n<\/section>\n
You might have heard about a Limited Liability Company or LLC more than once before.It’s also a popular business entity in Singapore, which can be formed under private or public sector:Private sector<\/strong>: Private limited company by shares and Exempt private companyPublic sector<\/strong>: Public company limited by shares and limited by guarantee<\/section>\n
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\u5229\u70b9\u00a0\u00a0<\/strong><\/section>\n<\/section>\n<\/section>\n
Limited liability<\/strong>As the owner of a Singapore LLC, you only take responsibility for the liabilities equivalent to the value of shares you contribute to the company.S<\/strong>eparate legal status<\/strong>Your LLC is a separate and distinct legal entity. So it can sign contracts, acquire and own assets, sue, or be sued under its own name.Tax advantage<\/strong><\/p>\n

Your LLC is subject to an income tax rate of\u00a017%.<\/p>\n

Besides, you’ll be eligible for a wide range of exemptions and reliefs from the government.<\/p>\n

This can reduce your tax burden significantly.<\/p>\n<\/section>\n

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Disadvantages<\/strong><\/section>\n<\/section>\n<\/section>\n
Running an LLC means you have to handle the paperwork.Still, a private limited company needs to fulfill fewer reporting duties than a public company.Specifically, your compliance requirements for Singapore LLC include:Filing tax returns with IRASFiling annual returns with ACRA<\/p>\n

Holding AGMs (Annual General Meeting)<\/p>\n

Submitting accounting reports<\/p>\n

Other duties as required by relevant competent authorities<\/p>\n

Discover the awesomeness of an LLC in detail with our\u00a0guide to Limited Liability Company in Singapore!<\/p>\n<\/section>\n

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\u00a0Partnership<\/strong><\/section>\n<\/section>\n
To establish a partnership, you’ll need\u00a0at least 1 partner<\/strong>.Generally, a partnership does not have s separate legal entity. This means you and your partner will be jointly responsible for all company’s liabilities (unless you’re a limited partner).To summarize, the three main forms of partnership in Singapore are:General partnership (GP)Limited partnership (LP)<\/p>\n

Limited liability partnership (LLP)<\/p>\n<\/section>\n

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Key differences between GP, LP, and LLP
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LLP is a separate legal entity, while GP and LP are not.Partner’s liabilityIf you form an LLP, you can be a limited partner or general partner.A limited partner has liability limited to the investment. Whereas a general partner has unlimited liability.For GP and LP, the partners would hold unlimited liabilities for any company’s matters and losses.<\/p>\n<\/section>\n
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Number of partners\u00a0\u00a0<\/strong><\/section>\n<\/section>\n<\/section>\n
A Singapore general partnership must have at least 2 partners, but cannot exceed 20.There is no maximum number of partners in an LP and LLP.<\/section>\n
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Tax rates\u00a0\u00a0<\/strong><\/section>\n<\/section>\n<\/section>\n
If you’re in an LLP, you’ll pay personal income tax (for individuals) or corporate income tax (for corporations).A Singapore partnership has less chance to gain tax relief than an LLC.<\/section>\n
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Sole Partnership<\/strong><\/section>\n<\/section>\n
You can register a sole proprietorship easily. But managing and maintaining it can be quite challenging.A sole proprietorship is also known as a\u00a0\u2018one-man show\u2019<\/strong>. This means you control the business on your own and take full responsibility for the company’s losses and liabilities.<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n
2. Taxation<\/strong><\/section>\n
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You\u2019ll have to pay personal income tax depending on the level of your earnings. For\u00a0Singapore residents, the rate is\u00a0between 0%-22%.<\/strong>\u00a0For\u00a0non-residents, you’ll pay a flat rate of\u00a015%-22%Businesses in Singapore benefit from Singapore corporate tax rebates, which differs for Years of Assessment (YAs). For YA 2018, this rate is 40% of corporate tax payable (capped at S$15,000) and for YA2019 it is at 20% of corporate tax payable (capped at S$10,000).In addition to the low corporate tax rates, there are schemes and grants offered by the Singapore government that can help reduce your Singapore corporate tax rates even further.<\/section>","protected":false},"excerpt":{"rendered":"

ACTIVE PROMOTION OF THE GAMING INDUSTRY Government agencies in Singapore like Infocomm Development Authority (IDA) and Media Development Authority (MDA) exert considerable effort to\u00a0bolster Singapore’s gaming ecosystem. The iN2015 Master plan laid out by the...<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":["post-5658","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\nGaming Companies Favour to Collaborate with Singapore - elitestage.cn<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.elitestage.cn\/ja\/gaming-companies-favour-to-collaborate-with-singapore\/\" \/>\n<meta property=\"og:locale\" content=\"ja_JP\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gaming Companies Favour to Collaborate with Singapore - elitestage.cn\" \/>\n<meta property=\"og:description\" content=\"ACTIVE PROMOTION OF THE GAMING INDUSTRY Government agencies in Singapore like Infocomm Development Authority (IDA) and Media Development Authority (MDA) exert considerable effort to\u00a0bolster Singapore’s gaming ecosystem. The iN2015 Master plan laid out by the IDA consists of the Connected Games Programme, which positions the city-state as a\u00a0vibrant core for games publishing and distribution in the region.This is accomplished by\u00a0helping gaming companies to grow and build their capabilities. For that, the IDA strives to create\u00a0a synergistic business environment\u00a0where gaming companies have easy access to products, services and programmes.This is aligned with the IDA’s collaboration with the Casual Games Association, a global trade organization for\u00a0the creation of games for mass market […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.elitestage.cn\/ja\/gaming-companies-favour-to-collaborate-with-singapore\/\" \/>\n<meta property=\"og:site_name\" content=\"elitestage.cn\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-14T11:51:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-14T13:43:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/09\/GAMING1.png\" \/>\n<meta name=\"author\" content=\"elitestage\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u57f7\u7b46\u8005\" \/>\n\t<meta name=\"twitter:data1\" content=\"elitestage\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u63a8\u5b9a\u8aad\u307f\u53d6\u308a\u6642\u9593\" \/>\n\t<meta name=\"twitter:data2\" content=\"6\u5206\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.elitestage.cn\\\/de\\\/gaming-companies-favour-to-collaborate-with-singapore\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.elitestage.cn\\\/de\\\/gaming-companies-favour-to-collaborate-with-singapore\\\/\"},\"author\":{\"name\":\"elitestage\",\"@id\":\"https:\\\/\\\/www.elitestage.cn\\\/#\\\/schema\\\/person\\\/31203aff8c38b824ba6cad22b0ec9528\"},\"headline\":\"Gaming Companies Favour to Collaborate with Singapore\",\"datePublished\":\"2022-09-14T11:51:21+00:00\",\"dateModified\":\"2022-09-14T13:43:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.elitestage.cn\\\/de\\\/gaming-companies-favour-to-collaborate-with-singapore\\\/\"},\"wordCount\":1303,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.elitestage.cn\\\/de\\\/gaming-companies-favour-to-collaborate-with-singapore\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.elitestage.cn\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/GAMING1.png\",\"articleSection\":[\"News\"],\"inLanguage\":\"ja\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.elitestage.cn\\\/de\\\/gaming-companies-favour-to-collaborate-with-singapore\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.elitestage.cn\\\/de\\\/gaming-companies-favour-to-collaborate-with-singapore\\\/\",\"url\":\"https:\\\/\\\/www.elitestage.cn\\\/de\\\/gaming-companies-favour-to-collaborate-with-singapore\\\/\",\"name\":\"Gaming Companies Favour to Collaborate with Singapore - 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The iN2015 Master plan laid out by the IDA consists of the Connected Games Programme, which positions the city-state as a\u00a0vibrant core for games publishing and distribution in the region.This is accomplished by\u00a0helping gaming companies to grow and build their capabilities. For that, the IDA strives to create\u00a0a synergistic business environment\u00a0where gaming companies have easy access to products, services and programmes.This is aligned with the IDA’s collaboration with the Casual Games Association, a global trade organization for\u00a0the creation of games for mass market […]","og_url":"https:\/\/www.elitestage.cn\/ja\/gaming-companies-favour-to-collaborate-with-singapore\/","og_site_name":"elitestage.cn","article_published_time":"2022-09-14T11:51:21+00:00","article_modified_time":"2022-09-14T13:43:24+00:00","og_image":[{"url":"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/09\/GAMING1.png","type":"","width":"","height":""}],"author":"elitestage","twitter_card":"summary_large_image","twitter_misc":{"\u57f7\u7b46\u8005":"elitestage","\u63a8\u5b9a\u8aad\u307f\u53d6\u308a\u6642\u9593":"6\u5206"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.elitestage.cn\/de\/gaming-companies-favour-to-collaborate-with-singapore\/#article","isPartOf":{"@id":"https:\/\/www.elitestage.cn\/de\/gaming-companies-favour-to-collaborate-with-singapore\/"},"author":{"name":"elitestage","@id":"https:\/\/www.elitestage.cn\/#\/schema\/person\/31203aff8c38b824ba6cad22b0ec9528"},"headline":"Gaming Companies Favour to Collaborate with Singapore","datePublished":"2022-09-14T11:51:21+00:00","dateModified":"2022-09-14T13:43:24+00:00","mainEntityOfPage":{"@id":"https:\/\/www.elitestage.cn\/de\/gaming-companies-favour-to-collaborate-with-singapore\/"},"wordCount":1303,"commentCount":0,"image":{"@id":"https:\/\/www.elitestage.cn\/de\/gaming-companies-favour-to-collaborate-with-singapore\/#primaryimage"},"thumbnailUrl":"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/09\/GAMING1.png","articleSection":["News"],"inLanguage":"ja","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.elitestage.cn\/de\/gaming-companies-favour-to-collaborate-with-singapore\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.elitestage.cn\/de\/gaming-companies-favour-to-collaborate-with-singapore\/","url":"https:\/\/www.elitestage.cn\/de\/gaming-companies-favour-to-collaborate-with-singapore\/","name":"Gaming Companies Favour to Collaborate with Singapore - 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