STEP

Title Research

Singapore

Modern Singapore was founded in 1819 when the East India Company established it as a trading post.

After a century and a half of British colonial rule, Singapore became an independent nation on 9 August 1965. Singapore is a republic with a parliamentary system of government based on the Westminster model. The organs of the state comprise the executive, legislature (parliament) and judiciary.

STEP Singapore branch page

Related Articles

No jurisdiction news article found.

1. Introduction

a. History and background

Modern Singapore was founded in 1819 when the East India Company established it as a trading post.

After a century and a half of British colonial rule, Singapore became an independent nation on 9 August 1965. Singapore is a republic with a parliamentary system of government based on the Westminster model. The organs of the state comprise the executive, legislature (parliament) and judiciary.

Singapore is a multi-cultural and multi-religious society. It has a population of about 4.6 million, made up of ethnic Chinese (76.7 per cent), Malays (14 per cent), Indians (8 per cent), and Eurasians – people of European extract or origins (2 per cent).

Singapore’s development as an international financial centre began in the late 1960s. Today, about 700 financial institutions, local and foreign, are located in Singapore, offering a wide range of financial products and services. Singapore is the world’s busiest port in terms of shipping tonnage.

English is the language of administration, business and technology. The official languages are English, Chinese, Malay and Tamil.

The currency in Singapore is the Singapore dollar (SGD).

b. Legal system

The judicial system is made up of two tiers of courts: the Supreme Court (comprising the High Court and the Court of Appeal, which is the highest court) and the Subordinate Courts (including, among others, the District Courts and Magistrates Courts). The Shariah Court handles the administration of religious, matrimonial and succession matters applicable to Muslims.

Singapore’s legal system is based on the English common law.

Editorial board
David Chong TEP
Portcullis Trust (Singapore) Ltd, Singapore

Advert

Article Search

© 2011 Society of Trust & Estate Practitioners