While Singapore hasn’t (yet) knocked Silicon Valley in the United States off as the breeding ground for the most startups in the world today, many expect them to continue developing Silicon Valley Lite in Southeast Asia – and some expect that they will be the most influential hotbed for startups in the coming decades.
Offering a number of benefits that simply aren’t available in the United States (or anywhere else in the West, for that matter), Singapore has been able to really distinguish itself from other nations while building a reputation for being about as business friendly as it gets. Here are some of the reasons behind why so many are choosing to incorporate their startups here than anywhere else!
A tremendously business friendly government that is as stable as they get
It’s almost impossible to find a more business friendly government anywhere in the world than the one that has been in place in Singapore for decades.
According to the World Bank, Singapore is the easiest place to do business, the third wealthiest nation in the world, and has a government that provides a significant amount of assistance, funding, and influence to start a businesses and other enterprises – regardless of whether or not they have been started by natives of Singapore are citizens of the world that come here to help build their business and the Singapore economy at the same time.
Situated smack dab in the heart of Southeast Asia with easy access to Asian markets
Situated in the heart of Southeast Asia, with access to billions and billions of people, startups that are establishing themselves in Singapore have a significant advantage and head start over startups that are being founded half a world away in the West.
This kind of access has been mitigated a little bit by the interconnectivity of online communication, but nothing beats having an active presence “in the backyard” of Southeast Asia the way that Singapore does.
Has tremendous infrastructure already in place to help startups succeed
Singapore has invested very, very heavily into their own infrastructure to build up this city state as much as humanly possible. Their public transportation is fantastic, their quality of life is off the charts, they are Internet speeds are amongst the highest in the world, and the entire city state just feels completely connected, modern, and very forward thinking.
You’ll have unlimited resources to tap into when you decide to incorporate your startup here.
Offers incredible tax benefits not available in many other locations
Startups – and businesses in general – are all about increasing the bottom line as much as possible, and Singapore allows startups and other enterprises to do exactly that by lowering their tax burden so significantly that only a handful of other nations around the world can even come close to competing with the tax benefits provided here.
When you combine these tax benefits with all of the other big advantages that Singapore has to offer compared to other nations across the globe it becomes effortless to see why so many startups are choosing Singapore as their base of incorporation.