An island nation located in the heart of Asia, Singapore has long been recognised as one of the best cities for business. Being named by the World Bank as the easiest place to do business globally for the past nine years in a row and No. 1 in Asia in the recent Global Startup Ecosystem Ranking, Singapore has got it right in many areas in attracting capital and talent.

Business-friendly taxes

Singapore is marked as offering the lowest effective tax rates in the world. Employing the single-tier income tax rates system, Singapore avoids double taxing her business shareholders. For corporate tax, remittance of foreign-sourced dividends, branch profits and service income into Singapore is exempt from tax if certain conditions are met. For individual tax, remittance of all foreign-sourced income is exempt from tax. Local companies enjoy very generous and favourable tax treatment (ie. tax exemption schemes and tax rebates) in Singapore.

Ease of capital access

Over the years, Singapore has grown to secure a place among the world’s top financial centres. Ranked among the largest financial hubs, it offers global firms competitively-priced trade financing, sophisticated risk management and top-notch insurance service options for businesses. Singapore is known as the biggest foreign exchange centre in Asia for trading.

Excellent infrastructure and strategic location

Strategically located between the east and the west and key Asian trading routes, Singapore is labelled Asia’s most competitive business country, tapping into the demand from 600 million people living in the economic region of ASEAN. Singapore’s container ports are among the busiest in the world and its port serves as the focal point for 200 shipping routes, with linkages to 120 countries.

Support business policies imposed by the Government

The Singapore government has adopted a pro-business policy, regardless of the world economic situation or crisis. Investors have come to appreciate the high levels of transparency and reliability in business, economic and regulatory affairs in Singapore. Singapore is also a top arbitration centre and the Singapore International Arbitration Centre is very active in handling trade-related cases and improving business clauses that facilitate the smooth operations of business.

The labour regulations in Singapore are listed among the world’s most conducive to business. The government also takes an active stance in supporting budding small businesses with various subsidies and grants.

Robust judicial system

Singapore has a robust legal and judicial framework. Anti-corruption laws are strong and well-enforced. Protection of ideas and innovations is also legally enforced under Singapore Law.

Quality talent and a cosmopolitan city

Singapore attracts businesses with its strong pool of local and international talent. Your business would benefit from the highly educated workforce available locally. With 47% of the local workforce receiving a tertiary education who can readily conduct business in English (and the majority of them also know Mandarin), your local team would be competent on a global scale. Employees are easy to find through the many online recruitment portals and head-hunting agencies.