All industries are open to foreign investment in Singapore’s free enterprise economy, with an emphasis on industries with worldwide markets and scope for progressive growth in technology.
Public utilities and telecommunications services are reserved for the government, although the trend is towards privatization.
There are restrictions to regulate the acquisition of shares in Singapore-incorporated banks by foreigners. The acquisition of residential property by foreigners is prohibited.
Local participation requirements
In general, there are no local participation requirements. Wholly owned foreign subsidiaries may be formed, but joint ventures with local capital are encouraged.
For investment in retail and marine services, the Department of Trade usually insists on majority local participation unless sufficient reasons are given for the non-fulfilment of this requirement.
