Why Do Business In Singapore?
The World Bank has ranked Singapore as the easiest country to start a new business for ten running years. Indeed, Singapore is one of the most popular business centres with its booming economy. Small and well-planned, the city-state offers many opportunities for people looking to invest. In general, there are tonnes of positive reasons to invest in Singapore. Here’s why.
Proximity to China
The strategic location of Singapore has further cemented its position as the top player [in the economy] in the region. The close proximity of Singapore to China has created strong trade links between these two countries. We all know that China is one of the world’s superpowers, and the strong business and trading connections between the countries will definitely boost the economic growth of Singapore.
In fact, the proximity to China provides investors in Singapore a more cost-effective alternative to traipsing into China’s market.
Good Investment Climate
Singapore is very well-known for its business-friendly environment that is capable of attracting many foreign investors and business entrepreneurs. In Singapore, people can turn their ideas into businesses with ease and significant returns. It only takes about 1-2 days to incorporate a company in Singapore, with the government-supported assistance along the way. Also, it’s very lucrative to invest in Singapore . It’s often referred to as the Switzerland of Asia due to its vibrant economy. Other than this, the well-educated workforce, high literacy rate, low crime rate and low corruption has contributed to the booming economy. Simply put, the nature of the economy, and how strong it is, is one of the best reasons that attract investors into the country.
Attractive Tax Rate
Taxes are always the top concern of any entrepreneur as many take it as one of the key considerations for setting up a business anywhere in the world. One of Singapore’s advantages is its interestingly low tax rates in both personal and corporate tax. There are no capital gains taxes in Singapore, and income that has been taxed at the corporate level, dividends can be distributed to its shareholders tax-free.
If you want to gain a strong foothold in Southeast Asia in order to enter the nearby markets in the region, Singapore is the country that could offer you the best investment opportunities.
Our international partner 3E Accounting International Network (https://www.3ecpa.com.sg) is an international accounting network with highly credentialed reputation and professional background. They aim to offer services through our global network from six continents in the world, namely Asia, Africa, Europe, North America, South America, and Oceania. 3E Accounting International strives to best serve our clients with our mission of “Three E’s”: efficiency, effectiveness and economy.
For now they have the team of Specialists Specialized in Incorporation, Accounting, Tax, Secretarial and many more. Have assisted many companies and entities in incorporating their businesses in Singapore.