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Singapore has time and again been ranked as the world’s easiest place to do business by the World Bank. So what makes this relatively young island country devoid of any natural resources as the best place for business and investments? In other words, why choose Singapore for business?  

Singapore is located along the corridors of east and west. Singapore remains connected not only to the regional growth markets but has also forged strong ties with economies beyond Asia. Singapore is essentially a bridge to the opportunities that are on both sides of the globe.

Besides the physical connectivity in terms of extensive air network and sea routes, the cosmopolitan culture amidst a rich Asian heritage makes it easy for investors and businesses to use Singapore as a springboard to the regional markets and beyond. The country, besides the pro-business policies has concluded an extensive network of agreements with its regional and international counterparts – With 20 Free Trade Agreements (FTA), 82 Avoidance of Double Taxation Agreements (DTA) and 41 Investment Guarantee Agreements (IGA) Singapore is an ideal choice for trade and investment holding companies. 

The political stability provides predictability and a sense of security for investors and businesses entering Singapore.  The government is responsive to the evolving business and economic environment and constantly reviews regulatory frameworks and policies. It also maintains a politically neutral stand fostering a cordial relation with its regional and international counterparts. Policy continuity is key to attract businesses. Investors feel assured by the political stability and the resultant policy continuity and resilience of Singapore dollar.

Singapore follows a territorial taxation policy, whereby profits made in foreign jurisdictions are not subjected to tax unless they are received in Singapore. Its Single tier taxation policy exempts the profits distributed as dividends from further taxation; hence shareholders enjoy tax-free earnings from dividends. The headline corporate tax rate is 17% but for companies whose profits are less than S$300,000 the effective tax rate is only 8.5%.  It is far competitive than the Asian average of 22.6% (2015). It must be noted that qualifying companies in finance, shipping, insurance, pioneer sectors enjoy further concessions on the tax rate. Attractive concessions are also available to Operating Head Quarters and Finance and Treasury Centers.

Singapore legal system scores well in terms of transparency, fairness, efficiency and integrity. Singapore upholds the rule of law and therefore the sanctity of the judicial system remains uncompromised and well respected around the world. While Singapore’s legal system has heavily adopted from the English common law, it has evolved over the years and has undergone several amendments to remain relevant to the changing realms of commercial and business practices.

Singapore’s role as a Startup hub is attributed to the strong Intellectual Property (IP) regime. It is ranked top in the Asia and second in the world. Singapore in its drive to nurture an innovation-driven economy has built a robust regime for the entire spectrum for IP that includes patents, trade marks, copyright, registered designs, plant varieties protection, geographical indications, trade secrets and layout-design of integrated circuits. The country has gained reputation as a tax-efficient IP management hub because of the several allowances and concessions available for qualifying R&D expenses. For this reason Singapore remains the top choice for setting up an R&D base for not only large multi-nationals but small startups as well.

Singapore through years of careful planning has fostered an ecosystem where enterprises can gain synergies. It offers a rich commercial ground where not only large multinationals but also small and medium-size companies can thrive on a symbiotic relationship. It has gained reputation as a hub in Asia. Enterprises across the entire value chain for any given sector are present and prosper in Singapore. As a financial, logistics and services hub in the region it has a comprehensive infrastructure for any business.

Singapore through years of careful planning has fostered an ecosystem where enterprises can gain synergies. It offers a rich commercial ground where not only large multinationals but also small and medium-size companies can thrive on a symbiotic relationship. It has gained reputation as a hub in Asia. Enterprises across the entire value chain for any given sector are present and prosper in Singapore. As a financial, logistics and services hub in the region it has a comprehensive infrastructure for any business.