Did you know that the island city-state of Singapore is widely-considered to be an ideal place to do business because it enables entrepreneurs to easily access financial opportunities in many different parts of Southeast Asia?
Singapore’s role as a financial gateway means that it offers business people the chance to access a huge market, which consists of three billion people. This massive pool of potential customers is accessible via flights of just a few hours in duration.
For this reason, many people refer to the island city-state as “the Switzerland of Asia”. Singapore has a robust economy, such as the Swiss currently enjoy, and it also offers a host of tax advantages and government initiatives which make it a wonderful place to do business.
Last, but not least, it does provide simple access to other markets in the region. Clearly, Singapore has all of the bells and whistles and this is why it is currently a big financial hub within Southeast Asia. Long known for being a great place for expatriates, as well as being a place which doesn’t have a capital gains tax, it attracts lots of business from people outside of the country.
At present, Singapore has a taxation system which is one-tier. Dividends are taxable via the receiver. As well, it’s got a corporate tax system which is really business-friendly. Singapore is part of an array of tax treaties and free trade agreements. As of late, Singapore’s government has been focused on building an ecosystem which is business-friendly. The goal is to help businesses gain momentum and gravity with a mind to attracting more investments. Since entrepreneurs know that the government supports start-ups, the island city-state has a superb reputation.
In addition, the people of Singapore do their part. They are a literate people and the crime rate in Singapore is amazingly low. By offering foreign enterprises access to Singapore’s educated and literate workforce, as well as a safe place to do business, the nation stands out and provides plenty of benefits which spark more and more foreign investment.
Foreign pros get employment passes in Singapore and the country also has anti-corruption strategies in place.
Do Business in Singapore
If you want to access a workforce which is very educated and avoid a lot of bureaucratic red tape, then we recommend doing business in Singapore. The country has a great legal system, it’s easy to set up shop there, the tax rates are excellent and government benefits abound. Since it’s also a gateway to so many other Southeast Asian markets, it’s a sensible choice for so many business people. Singapore also offers wonderful quality of life.
Now that you know more about why Singapore is considered to be a perfect entry point for the Asian market, why not consider business opportunities within the country? When you start out in Singapore or build a new branch of an existing company in Singapore, you’ll be able to expand into other parts of Southeast Asia with ease. Singapore offers golden opportunities to business persons from all over the world.