BENEFITS OF SETTING UP A BUSINESS IN SINGAPORE

Singapore has many accolades pegged to its brand, bolstering the Republic’s reputation as a key regional and global hub for companies to do business. Discover key facts and rankings about Singapore today.

The world’s easiest place TO DO BUSINESS

The ease of setting up a company in Singapore is a clear advantage when it comes to choosing the best place to do business.

Best business environment IN ASIA PACIFIC AND THE WORLD

  • Top of BERI’s Labour Force Evaluation Measure
  • Top 3 in the world for least corruption in the economy
  • No. 1 city with the best investment potential
  • The world’s easiest place to do business

Singapore has the most conducive environment for business as compared to the rest of its neighbours and the world

Why Singapore? FACTS AND RANKINGS

  • 2nd most competitive city in the world
  • Asia’s most network-ready country
  • Asia’s No.1 for best logistics supply chain performance
  • Asia’s least bureaucratic place to do business
  • No. 1 city with the best investment potential
  • Top 3 in the world for foreign trade and investment
  • Best intellectual property protection in Asia
  • Top 3 in the world for least corruption in the economy
  • Most transparent country in Asia
  • Top of BERI’s Labour Force Evaluation Measure
  • Top 10 in Asia for most motivated workforce
  • Top 10 in Asia for best skilled labour
  • Top 5 in the world for most business conducive labour regulations

Singapore has the most conducive environment for business as compared to the rest of its neighbours and the world

ASIA’S BEST COUNTRY TO WORK IN

Based on the Global Competitiveness Report 2011 – 2012 by the World Economic Forum, Singapore’s working conditions are the best in the region as employees are deemed to be better taken care of due to effective labour policies and a general employer mind-set that allows for employees to enjoy a balance in life.

Based on the Quality of Living Worldwide City Rankings in the Mercer Survey 2014, Singapore has the 2nd best environment, facilities and infrastructure available for citizens to enjoy a good quality of life due to a stable political climate, world-class transportation and healthcare system as well as entertainment variety.

Factors that BOOST YOUR BUSINESS

According to the Doing Business 2014 Report by the World Bank, Singapore is the easiest place in the world to conduct business, partly due to the hassle-free way in which administrative matters are handled.

  1. Comfortable tax system with NO capital gains, dividend, estate, death or inheritance taxes. Absence of foreign exchange controls and foreign ownership restrictions.
  2. Flexible personal income tax ranging from 0% to 20% (for above $320K). Government geared towards foreign investments.
  3. Effective corporate tax rates ranging from 8.5% to 17% (for profits higher than $300K). Easy and fast (up to 2 days) scheme of company incorporation.
  4. Double tax agreements with over 70 countries providing lower withholding taxes and avoiding double ones.
  5. Educated, productive, and highly motivated labour force. Flexible work visas for comfortable setup of new businesses and foreign talents immigration.
  6. One of the world’s lowest Goods and Services Tax rate (7%) comparing to global 16.4%. High-end and sophisticated transport infrastructure.

To learn about how to set you business in Singapore and take advantage of all the benefits, contact our business consultants today at info@one-visa.com

Source: http://www.edb.gov.sg

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