Benefits of doing business in Singapore

Singapore may be a little red dot with scarce natural resources but its strengths far exceed its size.

Businesses or investors are enticed to Singapore's distinct appeals such as its stable political environment, efficient regulatory system, and extensive trade networks. The country ranks highly in the ease of doing business due to its open economy, low corruption rates, and transparent legal system.

With a highly skilled workforce, world-class infrastructure, and business incentives, Singapore is a prime destination and springboard for companies looking to expand in Asia.

As an economic hub, Singapore’s major trading partners include China, Malaysia, the European Union, The United States, Hong Kong, Indonesia, Thailand, Taiwan, South Korea, Japan and more.

1. Strategic Location

With its world-class port and airport infrastructure, Singapore plays a vital role in the global supply chain, making it an ideal springboard for businesses aiming to expand both regionally and internationally. Its strategic location in Southeast Asia serves as a gateway to emerging markets such as China, India, and ASEAN nations.

Additionally, neighbouring Asian cities can be reached by air within 7 hours from Singapore. This advantageous geographical positioning enables Singapore to function as a central hub for international trade, logistics, and business, facilitating seamless connections between the East and West.

2. Pro-Business Environment


Singapore promotes a vibrant business environment with its appealing tax incentives and structure, including a low corporate tax rate of 17%. The country does not impose taxes on dividends, capital gains, or estate, death, or inheritance taxes.

Furthermore, there are no restrictions on foreign ownership of businesses, and the repatriation of profits along with the import of capital is unrestricted. Shareholders, including investors receiving dividends from company profits, are exempt from Singapore tax.

Additionally, companies that qualify as small businesses are not required to undergo auditing.

3. Highly Skilled Workforce

Access to a diverse and talented workforce makes Singapore an ideal destination for businesses across various industries.

Moreover, the government actively supports skills development through initiatives such as SkillsFuture, which fosters a culture of lifelong learning and personal growth.

This dedication to enhancing skills ensures that the workforce remains competitive and aligned with the changing demands of sectors ranging from technology and finance to healthcare and logistics. Consequently, businesses in Singapore can tap into a pool of skilled professionals poised to drive innovation and growth.

‍

Overall, Singapore is recognized for its strong branding and serves as a hub to access other parts of Asia.
For interests in incorporating companies in Singapore, please feel free to contact Finova Group.
contact@finova.com.sg