Page 22 - PharmBio2122_25June21
P. 22

                                                                                                                                                                                                                                          SINGAPORE PHARMBIO GUIDE 2021/2022
The written law in Singapore has its roots in English law and takes the form of Statutes made by the Singapore Parliament (Acts) and Subsidiary Legislations that accompany the Singapore Acts. These comprise rules and regulations that dictate the manner in which the Act is to be administered.
Singapore is well recognised as a leading legal hub in Asia and its legal system is internationally regarded for its efficiency and integrity. Recognising this strength, a good number of companies have chosen Singapore as the preferred location for their operations, many
as regional headquarters, and apply the Singapore law as the governing law for their international business transactions. Furthermore, Singapore’s strong commitment to the protection of intellectual property and its efficient IP rights enforcement regime have contributed to it being a key IP hub in Asia.
The entire collection of the Singapore Acts and Subsidiary Legislation are available online at the Singapore Statutes Online website ( Printed copies may also be purchased online at https://www2.toppanleefung. com/webshop/.
These documents lay out the rules on how business and other important matters should be conducted in Singapore. They spell out the local regulatory framework as well as the procedures and requirements for the various operating licences and permits. Some of the more common ones that apply to a biomedical operation are described below and references are made to the relevant Statutes and Subsidiary Legislation. For completeness, companies should check with the various government ministries and agencies on other licences and permits that may also be relevant to them.
Prior to conducting business activities in Singapore, one will need to incorporate or register his business or company with the Accounting and Corporate Regulatory Authority (ACRA) (www. Registration can be done online at via CorpPass or SingPass authentication. CorpPass ( is a corporate digital identity for businesses to perform online transactions with local government agencies. On the other hand, the SingPass (www.singpass. is a set of authentication ID and password issued to all Singapore Citizens, permanent residents as well as valid employment and dependent pass holders. Under the Companies Act, it

   20   21   22   23   24