10 Reasons Why Singapore is Becoming a Hotspot for Business Relocation

 Singapore has been dubbed as one of the most attractive places to register a company for foreigners, and for good reason. Strategically located at the crossroads of East and West, Singapore has established itself as a leading business hub in Asia. From its pro-business environment to its stable political landscape, here are ten key reasons why companies are relocating to Singapore.



Affordable Tax Structure

One of the primary reasons entrepreneurs and investors flock to Singapore is its affordable tax regime. The country's low personal and corporate income tax rates, tax benefits, and absence of tax on capital gains all work to reduce overhead costs for businesses. Additionally, Singapore has signed Avoidance of Double Tax Agreements (DTAs) and other regional tax agreements with other countries to simplify cross-border trade for its companies.


Pro Business Environment

Singapore has established itself as one of the most accessible places to do business in the world. In fact, the World Bank’s Report 2020 ranks Singapore in 2nd place for the 'Ease of Doing Business.' The country's world-class harbors and airports offer reliable connectivity throughout the world. Its excellent infrastructure, low tax rates, start-up ecosystem, qualified and English-speaking workforce, and robust economy make it one of the best places to invest.


Robust Economy

Singapore boasts a highly successful and well-developed trade-based economy, supported by sectors such as electronics, manufacturing, financial services, and construction. In 2020, Singapore's GDP per capita was USD 59,797.75, and it is expected to reach USD 61,000.00 in 2022. This is higher than even many developed nations.


World-class Infrastructure

Singapore is home to efficient ports, a rapid transportation system, subways, modern skyscrapers, and high-rise structures. It also boasts reliable communications networks for connectivity with the outside world.


Quality of Life

Singapore offers its citizens and expats a secure and quality life. It is ranked in Mercer’s list as one of the best cities globally based on personal safety, political stability, and opportunities for growth.


Stable Political Landscape

Singapore offers investors and entrepreneurs a strong and stable political environment. Coupled with Singapore's record as one of the most corruption-free countries and pro-business bureaucracy, it is no surprise that it is an ideal marketplace for registering companies for foreigners.


Strong Legal System

Singapore's legal system is swift and efficient, with strong anti-corruption laws that are implemented effectively. Investors can operate without fear of bureaucratic manipulation or interference, and the crime rate remains low, offering high personal safety.


English-Speaking Workforce

Singapore has invested heavily in its education sector, ensuring a 90% literacy rate. Its colleges and universities produce a stream of qualified individuals, and Singapore also attracts qualified foreign professionals, managers, and socialists. Multinational corporations (MNCs) prefer an English-speaking Singaporean workforce, and when it comes to registering companies for foreigners, entrepreneurs prefer to hire a compatible and competitive staff.


Investing in Singapore

Singapore promotes free enterprise and allows 100% foreign ownership in companies registered in Singapore. The country offers the Global Investor Program (GIP) and the EntrePass program to help relocate foreign entrepreneurs and investors. Moreover, there are no restrictions on transmitting profits outside of Singapore. In the fourth quarter of 2021, Singapore attracted SGD 34,913.40 million in Foreign Direct Investment.


Ease of Doing Business

Singapore offers 'Ease of Doing Business through the swift process to register companies for foreigners. They also benefit from streamlined compliance procedures, low tax rates, and 100% ownership of their company. Singapore is a secure, clean, and vibrant

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