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Why to choose Singapore

With a reputation for ‘ease of doing business’ and being the Asian leader in foreign investment, it is obvious that Singapore has emerging as a world super nation where foreign business can prosper with ease. Recognizing a set of favorable incentives of the nation, large sections of worldwide business investors and entrepreneurs are taking great interest in Singapore company incorporation.

“What makes Singapore unique?”

This question may come in the minds of foreign investors while considering Singapore as a place for business investment. This little island nation is unique and favorable business destination in many ways. Over the years, this erstwhile sleeping nation has emerged into a world’s leading business nation only because of some pro-business advantages.

The political stabilities combined with economic conditions of the country forms a perfect ground for business players. Singapore has to offer many positive aspects for the one who is looking for a major life change. Few encouraging factors like diverse culture, progressive tax regime, stable political system, world-class living style, state of the art infrastructure, protective intellectual property law, etc. fascinate a considerable strength of overseas professionals and entrepreneurs.

Singapore facts at a glance:

  • According to  World Bank survey, Singapore topped the list of places for ‘ease of doing business’ in the world
  • The nation has been ranked as the 2nd best investment potential worldwide for the past fourteen years.
  • No. 1 Asian country for political stability and high quality of life
  • World’s 4th  biggest foreign exchange trading centre
  • A leader in international banking, trade finance, insurance and asset and wealth management services.
  • A country having most outstanding tax regime with corporate tax capped as 17%, personal tax starts at 0% and capped at 20% and lowest GST rate of 7%.

By looking at the key advantages of the place, we will analyze why Singapore is a congenial destination for both local and overseas business entrepreneurs.

Ideal Geographic Location:

Strategically located at the heart of Southeast Asia, Singapore invites wealthy entrepreneurs from both eastern and western nations. Ideal geographical location is one of the major advantages of starting or relocating your business in Singapore. Furthermore, you can gain unparalleled access to Asian market just within a few hours of flight.

Competitive Tax Regime:

Singapore is widely known for its progressive tax regime, a prime reason for huge influx of foreign business entrepreneurs. The low and competitive tax structure of Singapore tops the list of key advantages that the business nation has to offer. Unlike most other jurisdictions, tax structure of the island nation is liberal and comes with limited liabilities. Its personal tax and corporate tax rates are considerably low. The personal tax rate system follows one tier system that starts from 0% and goes up to 20% for income above S$320,000.Similarly, corporate tax rates are capped at 17%. There are set of tax benefits, incentives, allowances and bonuses available. Full tax exemptions, single tier tax systems are some instances of it. Additionally, Singapore GST rate (current is 7%) is considered to be one of the world’s lowest VAT/GST rates.

Simple Company Registration Process:

The processes involved in Singapore company registration are relatively simple, easy and quick. It serves as one of the key factors to attract attention of global business investors and entrepreneurs. Surprisingly, you can incorporate a Singapore company just in a day or two.

Open and Liberal Immigration Policies:

With an honest aim to attract foreign resources to Singapore, its government has implemented an open and liberal immigration policy. The Singapore immigration policy facilitates relocation of foreign nationals who wish to live and work in the nation. The government has introduced a set of Singapore work visas including Employment pass and Entrepreneur Pass. The policy to obtain Permanent resident status is also easy than any other progressive nations.

Protective Intellectual Property Law:

The Government of Singapore offers a strong and protective law for intellectual property. Today Singapore has become one stop center for business owners seeking to manage their intellectual Property assets.  The strong protection against copyright, patent and intellectual property ensures a lawful environment to operate business.

State-of-the-Art Infrastructure:

Singapore is proud owner of state of the art infrastructure system, which is undeniably a key to business success. The nation houses excellent transport network, quality health care system, advanced education system, pro-business environment and high quality of life, a complete set of perfect infrastructure where business can thrive and grow. Recently, Singapore has also been acclaimed as one of the cleanest and greenest cities in the world.

Stable Political System:

An open and honest government backs political system of Singapore, whose prime vision is to place the nation at the forefront of other developed nations. It is certain that a supportive political system encourages an economic system of the nation to continuously boom and grow. Singapore government has enacted laws and regulations using a pro-business approach.

Rich and Diverse Culture:

The city nation most predominantly known as business hub is also renowned for having a rich, vibrant and diverse culture. A wide variety of ethnic groups lives together harmoniously and embraces the outsider with warm welcome.

Smart and Talented Work Force:

Intelligence, smartness and sincerity – there are the qualities every enterprises likely to search in their employees. Since Singapore is a knowledge-based economy, its labor force is highly qualified, educated, smart and proficient.