The Double Taxation Avoidance Agreement between Russia and Singapore was signed in 2002. It strengthened the investment relationship between the states: as of the end of 2019 direct investments from Russia to Singapore amounted to $ 4,746 million. The RAUIE prepared a review of the largest Russian investment projects in Singapore.
Top-4: Math Pilots, $200,000
The private school Math Pilots, the founder of which is Professor Alexander Kuznetsov, is a vivid example of one of the educational and creative centers created by Russian migrants in Singapore. Math Pilots develops and implements advanced educational programs that allow students to intensively gain new knowledge. In the first four months, the school accepted 60 students. Now more than two hundred children are engaged in it. At first, the educational center was located in a small hall next to the beauty salon. The business has been growing and Professor Kuznetsov bought the whole building and invited several Singaporean employees. It plans to develop Math Pilots to the level of an international school.
Top-3: CulinaryOn, $ 3,000,000
In 2015, a branch of the Moscow company CulinaryOn was opened in Singapore: a network of culinary studios in which chefs cook together with customers. New location - Singapore was chosen because of the wide business community, the high level of gastronomic culture and the local population activity. According to the founders of the company, $ 3 million was invested in the Singapore branch: an extensive studio accommodates more than 50 people. The studio has more than 20 employees from different countries. Singapore CulinaryOn, like all other network affiliates, organizes corporate events and cooking classes for all interested and also works with private clients.
Top-2: Life. SREDA, $100,000,000
Life.SREDA VC - это международная венчурная компания, основанная в 2012 году, со штаб-квартирой в Сингапуре. Будучи одним из первых некорпоративных венчурных фондов для проектов с сфере финтеха, компания инвестировала более чем в 20 компаний по всему миру через 2 фонда: Life.SREDA I ($40 млн) и Life.SREDA II Asia ($100 млн).
Life.SREDA VC is headed by Vladislav Solodky, one of the top 100 innovative bankers in Asia (according to NextMoney), and Igor Pesin, who holds the position of financial and investment director of the Fund. In 2014, after the boom of fintech companies in Asia, Life.SREDA II was launched to support fintech services in Southeast Asia.
The company is developing the first pan-Asian platform BaaS.is, which acts as middleware between traditional banks and the fintech ecosystem. Life.SREDA II has already invested in 8 fintech companies. In 2016, Asia became the region with the largest number of fintech investments in the world.
Top-1: Acronis, about $735,000,000
Founded in Singapore in 2003 and incorporated in Switzerland in 2008, Acronis currently has over 1,500 employees in 33 branches in 18 countries. The company's international headquarters is still located in Singapore. Acronis is developing system solutions for corporate and home users working with hard disks, backing up data, managing boot operating systems, editing disks, wiping data and other system tools.The history of products developed by the company began with the creation of the PhysTech-Soft startup in 1991, although one of the founders and CEO of the company, Sergey Belousov, emphasizes that Acronis itself is not based in Russia. In 2018, Acronis grew by 20%, and in 2019, the company's growth accelerated, and some units (in particular, Acronis Cyber Cloud) more than doubled.
Examples of Russian investment projects in Singapore fully confirm the status of a country with an innovative economy and favorable jurisdiction. Most projects relate to the educational and high-tech sectors. Singapore is convenient for both small businesses and large enterprises entering international markets.
You can contact:
Maxim Kuznetsov - vice-president of the RAUIE
WeChat: maximkuznetsov
Gao Muyang - deputy Head of trade and economic development Department
WeChat ID: Sauron_1863