What makes Singapore the ideal place for setting up your business?
Singapore has consistently ranked at the top of World Bank Group’s Ease of Doing Business Report for 8 consecutive years. Also, Singapore is the only Asian country to rank second and get featured at the Top 20 Global Talent Competitiveness Index (GTCI) conducted by INSEAD. These are just a few of the many global rankings that prove that the city-state has an enterprise-friendly environment that is highly conducive for starting and operating a business. With its strategical location positioned right at the heart of Southeast Asia with easy access to large markets such as China and India, Singapore is ideal for foreign entrepreneurs who are looking to establish a business presence in the region.
The Singapore economy has an AAA credit rating which is instrumental in attracting a growing number of foreign direct investments. In addition to this, the city-state has a strong and stable political environment, has high-quality infrastructure, good connectivity, and highly-skilled workforce. With world-class education, foreign nationals who are seeking to do business in Singapore can assure that their children have access to world-class learning institutions. More so, this also assures that businesses have a good pool of qualified talents to choose from.
The government is also open to new businesses and foreign investments with its business-friendly legislations, liberal immigration laws, effective tax policies, and strong legal system. It also encourages entrepreneurship by providing financial assistance for ventures with unique business ideas. The government implements strong intellectual property (IP) laws preventing any idea to be stolen. To protect the interests of foreign investors, several agreements like double taxation avoidance agreement, Free Trade Agreement (FTA), and investment guarantee agreement are in place. These factors make it the home for several start-ups and established firms.
More to this, you would be paying for only what you want. Yes! There are no under-the-table dealings which makes Singapore one of the least corrupt countries in the world. It also has become a tax haven for the rich people because of its low tax rates on personal income. To create a win-win situation for the locals and foreign investors, the government subsidies half the salary of local new hires with technical profiles. Singapore also stands as a culturally diversified cosmopolitan city which makes it easier for any foreign nationals to settle down easily.
If you are looking for a global branding or concentrating on the emerging economies, then it is highly ideal to have your start-ups incorporated in Singapore. So, what are you waiting for? Get your Company registered in Singapore and let us assist you in your entrepreneurial journey.
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