Uncover the top reasons to set up a company in Singapore, from its business-friendly environment and strategic location to attractive tax incentives and robust infrastructure. Located in the heart of Southeast Asia, Singapore is an important trading hub, connecting businesses with major markets in the region such as Indonesia, Malaysia, Thailand and Vietnam, Singapore has affirmed its position as the most vibrant economic and financial center in the world. With its strategic geographical location, the Lion Island country is not only a convenient trade bridge between countries in the region but also an important gateway for businesses to reach out to the global market. The dynamic, stable, and transparent business environment has made Singapore an ideal destination for those looking to expand their business. So why should investors set up a company in Singapore?
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To attract more foreign investors, the Singapore government offers a variety of tax incentives for businesses such as Corporate Income Tax, Double Tax Deduction for Internalization, and Tax Exemption policy.
The Economist Intelligence Unit: One of the world’s leading economic research organizations has recognized Singapore as the country with the best business environment not only in the Asia-Pacific region but also globally in 2019. The EIU is a unit of The Economist newspaper, which provides economic, political, and social analysis and forecasts around the globe. EIU’s reports are highly regarded for their professionalism, reliability and are widely referenced by investors, governments and international organizations. Being recognized by a leading economic research organization in the world has helped to enhance Singapore’s prestige in the international arena. This creates a positive image of a stable, developed and attractive country for investment. The EIU’s appreciation will attract the attention of foreign investors, promoting FDI inflows into Singapore. This will create more job opportunities, promote economic growth and improve people’s living standards.
The Global Competitiveness Index 4.0 is an index to measure a country’s ability to create and maintain a competitive business environment that promotes growth and development. This index comprehensively assesses the capacity of countries to adapt to the Industrial Revolution 4.0, where digital technology and automation are profoundly changing the way we produce, consume and work. The fact that Singapore surpassed the United States to top the global competitiveness index is an admirable achievement and worth considering for investors to invest in establishing a company in Singapore.
With more than 20 bilateral and regional FTAs, and 41 Investment Guarantee Agreements, Singapore has built an extensive trade network, connecting with many countries and regions around the world. This helps Singapore access many potential markets, expand export opportunities and attract investment.
The trade agreements that Singapore signs usually focus on reducing tariffs, removing non-tariff barriers, and facilitating trade in goods and services. This helps reduce production costs and increase the competitiveness of Singaporean goods in the international market.
Investment Guarantee Agreements provide a solid legal framework to protect Singaporean investors as they conduct business in partner countries. This helps to strengthen investor confidence and encourage investment capital inflows into Singapore.
Customers who want to establish a company in Singapore, please contact Viet An Law for the earliest support!
