Singapore’s Bilateral Agreements with Germany
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European Union – Singapore Free Trade Agreement (EUSFTA)
The EUSFTA provides Singapore companies with greater access into Germany, with benefits ranging from tariff elimination to reduced technical barriers to trade and increased access to the EU’s services and procurement markets.
Free Trade Agreements are treaties which make trade and investment between two or more economies easier. The key benefits of the EUSFTA include the elimination of customs duties by the 5th year, liberal and flexible Rules of Origin for Singapore’s exports, improved market access to services sectors, enhanced opportunities in government procurement, reduction of technical and non-tariff barriers in key sectors, and the enhanced protection of intellectual property rights.
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EU–Singapore Investment Protection Agreement (EUSIPA)
Singapore and the EU are important trade and investment partners to each other. The EUSIPA protects investments between the European Union and Singapore.Signed in October 2018 and approved by the European Parliament in February 2019, the EUSIPA is undergoing ratification by the regional and national parliaments of the EU member states.
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Singapore–Germany Double Tax Avoidance Agreement (DTA)
DTAs provide relief from double taxation in the situation where income is subject to tax for both countries.The provisions of the DTA apply to persons who are residents of one or both of the Contracting States. Please refer to IRAS for more information.
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Investment Guarantee Agreements
The Germany–Singapore Bilateral Investment Treaty (BIT) is a legally-binding agreement between Germany and Singapore that establishes rules on how Germany should treat investments and investors from Singapore and vice-versa.With the BIT, Singapore companies operating in Germany will enjoy protection on their investments, on top of the protection accorded under Germany’s domestic laws. Similarly, German companies operating in Singapore will also enjoy investment protection.
