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Singapore

Singapore is a fantastic blend of different cultures, religions and traditions. It has always been a hub of international activity and there are more than 6000 international companies ranging from small to medium enterprises through to large multinational corporations. In recent times it has been at the heart of the resurging Asian boom and it continues to see huge growth as the main point of contact for the development of the entire South-East Asian region and even parts of the Middle East.

Firms in Singapore

The most important characteristic to recognize about the Singapore legal market is that it is made up of joint law ventures (JLVs), foreign firms and independent local firms. The main reason being for this is that foreign firms cannot advise on Singapore law or appear before the local courts. However foreign firms can form JLVs with domestic practices to pool resources on cross-border M&A and finance transactions, as well as refer work to one another. Recently, the government has proposed allowing five foreign firms to practice Singapore law but this is still in the works.

Salaries and Billing Targets

Singaporean salaries have not in the past been as easily predictable or transparent as in other jurisdictions. Originally they were pegged in line with the UK salaries but over time this was seen as being too simplistic and these days the bands are calculated as a blend of what the UK is paying, what the US is paying and data from the local Singaporean firms. As of May 2008, a general indicative breakdown of annual salaries in Singaporean dollars is as follows:

FIRM	1 PQE	2 PQE	3 PQE	4 PQE	5 PQE
Top Tier	160,000	170,000	185,000	200,000	210,000
Local Firms	90,000	100,000	115,000	120,000	96,000
US Firms	195,000	210,000	230,000	250,000	260,000

Note: as at 21/5/08, one Singapore Dollar equals $0.765 AUS, $0.947 NZD, 0.371 GBP or $0.731 USD.

Taxes

The tax situation is very good indeed. The top tax bracket in Singapore is currently 21% but that rate doesnt kick in until your salary reaches S$320,000 per year, so it is likely youll cap out at the next tier down, which is only 18%. In addition to this, there are many other tax incentive schemes which one can take advantage of depending on circumstances which will significantly drive this rate down - for example supporting dependants, paying professional and academic course fees and life insurance policy premiums.

Bonuses

Similar to Hong Kong, most firms pay healthy bonuses up to around 30% or 40% of salary. The specific bonus calculations vary from firm to firm but it can be generally be said that they are usually merit based and take into account factors such as chargeable hours as well as soft factors such contribution to the firm, client development and the like.

Relocation Expenses

These days the typical package is for your flight to be paid for (including immediate family), the costs of shipping, a serviced apartment when you first arrive and assistance with getting set up (e.g. providing you with the services of an agent to help you sort out accommodation etc.). Some firms still offer an annual visitation flight home, depending on circumstances, but such benefits are mostly on the way out.

Visa Requirements

To work in Singapore you will require an Employment Pass and to obtain this a local sponsor is required. Most firms sponsor quite readily so this is not usually a problem.

Qualification Requirements

International firms in Singapore do not generally require overseas qualified lawyers to be admitted to the Singapore Bar in order to work. This is because the current Law Society rules prescribe that offshore firms in Singapore are not allowed to advise on Singaporean law (unless they are in a joint venture with a local Singaporean firm). Further, most Australian and other foreign lawyers are working on deals involving English or US law and knowledge of Singaporean law is not required. If you do want to qualify, there are procedures enabling specified Australians from certain recognised universities to be admitted to the Singapore Bar if you wish to be admitted. Contact the Singapore Law Society for more information on this.

Cost of Living

Singapore is less expensive than Hong Kong and Japan but more expensive than most other Southeast Asian cities. The main cost is accommodation as Singapores rental rates have been going up, in part as a result of the recent influx of foreign professionals and banks that have opened. Tipping is not common in Singapore. Hotels and restaurants may impose a 10% service charge, and a gratuity is not expected in excess of this.