Singapore – A Launching Pad for your Business

The city-state of Singapore may be small in area, but it has been an economic giant for a very long time. Singapore is a global hub for finance and commerce. Aspiring entrepreneurs and professionals from all over the world work here, helping it maintain a position in the upper echelons of the world economy.

Best in the World for Business

According to a CNBC report, Singapore is the easiest place to do business, a fact that has been documented and celebrated for decades. Singapore has held this credential for a decade now, and things are just getting better. If you are looking to give your company a firm foothold in a fertile business environment, Singapore can be your answer. From a compliance perspective, Singapore’s regulations are very business-friendly. When compared to other countries which are heavy on red-tape, Singapore is known for its quick resolution system. For example, commercial disputes get closed in an average of 150 days in Singapore – that is the lowest time frame in the world.

Singapore is also home to a very diversely talented workforce. With such riches of expertise and human resources, you can easily find a team of professionals for your Singapore business presence.

Central Location

Singapore is located in the midst of some of the largest and fastest growing economies in the world. Imagine a market that comprises of 3 billion people, all within a short flight. Singapore’s geographical advantage makes it an easy task to reach out to global clients, whether it is a call to Mumbai or a presentation in Sydney. Logistically also, Singapore leverages this great location. It is home to one of the busiest and most efficiently run airports in the globe, servicing 20 million people every year.

Lifestyle

If you are going to have a business set up in Singapore, you are going to spend a fair amount of time there. That could be one of the best decisions that you make as the city has some of the highest living standards. Singapore’s shopping scene is well-known and when it comes to food, the whole world is literally served on a platter. From the choicest of Australian steaks to piping hot masala dosas, Singapore has a rich culinary culture.

Singapore’s cosmopolitan population also makes it a very interesting place to explore. The Indian and Chinese settlements have a lot of charm and the city’s downtown is the hub for expats to catch up. The Marina Bay area and the surrounding localities and central business district are not just business nerve centres but offer an enigmatic choice of recreational and entertainment options. Singapore is also a green city, with a huge tree and plant coverage despite massive urbanization. Amazing vacation destinations like Vietnam and Bali can be your weekend getaways. Moving around town is very simple – the city has a very well managed bus and taxi system. Singapore is also one of the safest countries on the planet.

Hi-Tech City

The concept of a smart nation may sound like wishful thinking for most but Singapore is breaking barriers in that department. The city is already very tech-enabled and most of its public services are integrated. From health services to transport, the convenience of tech is helping the citizens save time and money in many ways.

Save on Taxes

To encourage a healthy and competitive landscape, Singapore has one of the lowest tax brackets in the world. There are no capital gains taxes and the 7% VAT tax is easily lower than most other countries. Corporate tax for profits does not go above 17%.

Where the Government is your Best Friend

There are not too many places in the world where the government knows how to nurture businesses in a simple and hassle-free manner, ensuring win-win situations for all. Singapore is a city that imbibes ethical approaches in all facets of life. Business is a breeze as there are no obstacles like bribery. Your dream of having a base in Singapore can become a reality, as the country encourages companies to have a presence here with minimum red-tape.

You can set up a representational office of your company, or a Singapore branch. A physical address and necessary documentation are required and you will also need an SSIC code and the applicable licenses. This website will give you a great intro on how to set up your business in the Lion City.

Singapore is a nation that is built and driven by aspiration, innovation and the principles of hard work and strong ethics. Having a business set up here is a decision that you will not regret as you reap the profits while enjoying an enviable lifestyle.

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