Reasons why you should invest in Singapore
Stability, Global connectivity, Competitiveness
- Businesses do not exist in a vacuum – they need a supportive political infrastructure to grow and thrive. Singapore has one of the most stable political environments in Asia, offering entrepreneurs and investors a strong sense of security and comfort. Its judicial system has been recognized as one of the most efficient in Asia, enforcing anti-corruption laws so that investors can conduct business without fear of bureaucratic malaise.
- Moreover, through strict law enforcement, Singapore has a persistently low crime rate and offers residents a high degree of personal safety. In the event of cross-border disputes, businesses can rely on Singapore’s reputation as a world-class arbitration facility.
- According to the ‘2021 Corruptions Perceptions Index’ that was released by Transparency International, a global coalition against corruption, Singapore was perceived as a non-corrupt country with “a modernised economy, efficient bureaucracy and strong rule of law” and was ranked #4.
- The WEF’s ‘2017 – 2018 Global Competitiveness Report’ also reveals that Singapore has the highest public trust in politicians and the least burden on the government.
International Business Hub
- Singapore is a unique convergence of the East and West. The social fabric consists of a mix of Asian, European, and American influences making it attractive and friendly to the international business community. Major international banks, multinational organizations, and financial institutions all over the world have established their branches in Singapore, often making the country the location of their branch office in Asia.
- Singapore has built on its advantageous geographical location to become one of the world’s top trading and transportation hubs. Located right in the middle of the Asian time zone, Singapore maintains excellent connectivity and proximity to major Asian economies.
Free Trade Agreements and Tax Treaties
- Singapore has the most extensive network of FTAs in Asia and a wide network of more than 25 FTAs globally. Agreements have been signed with key economies such as the US, Japan, Australia, New Zealand, members of the European Free Trade Association, Jordan, China, Chile, South Korea, India, and Panama.
- Singapore also has a wide network of tax treaties with numerous countries and territories worldwide. By situating their international HQs here, companies benefit from Singapore’s network of 85 comprehensive Avoidance of Double Taxation Agreements (DTAs).
Conducive Pro-Business Environment
- Singapore has long been recognised as one of the best cities for business. With over 3,000 start-ups Singapore represents a diverse business ecosystem. Spaces like business parks or innovation centres enable further connection to expertise, networks, and relevant business partners.
- Besides its vast network of free trade and tax treaties, Singapore also offers one of the most attractive corporate tax structures in the world, aiming to support economic activities for long-term, sustainable growth. The standard corporate tax rate in Singapore is 17 per cent with a partial tax exemption and a three-year start-up tax exemption for qualifying start-up companies available.
Smart Nation through Technology
- Singapore’s ambitious Smart Nation initiative is about becoming a world-class, tech-driven city-state to transform how people and also businesses work in everyday life. Due to the fully digitised processes, starting a business in Singapore is very quick and convenient. Taking only 15 minutes to register a company online – the quickest in Southeast Asia – one can even set up a business when not yet in Singapore.
- Furthermore, according to the WEF Global Competitiveness Report 2020, Singapore ranks within the Top 10 countries in digital skills and the adoption of information and communications technologies and digital legal frameworks. On the way of becoming a Smart Nation Singapore has earned amongst others the following achievements:
- #1 Best global smart city in the world
- #1 Best digital transformation environment in Asia
- Singapore’s labour regulations and workforce have consistently been rated highly by leading international organisations, showcasing a highly educated and skilled workforce with more than 30 per cent holding a university degree. Singapore’s bilingual education policy furthermore accounts for people being proficient in English and at least one other language, such as Mandarin, Bahasa Melayu, or Tamil.
- Singapore has earned the following recognition for its labour regulations and workforce from international organisations:
- #1 in Asia and #2 globally in talent competitiveness
- #2 most attractive destination for global talent
- #2 in the world for startup talent