Did you know that Singapore is the most business-friendly country in Asia? Singapore is ranked as the 10th most new ecosystem in the world. The country consistently ranks No. 1 for ease of doing business, by the World Bank. Not surprisingly, hundreds of multinational companies including Uber, Toyota, Facebook, and Google are headquartered there. One reason that you can find is the ease of founding a company there because there are many company incorporation singapore services. Here are the reasons why Singapore has been named as a business-friendly country in Asia:
Singapore Good for Investment
As a vehicle for investment purposes, companies from all over the world want to establish a Singaporean holding company for their Asia Pacific business investment. Companies from India are very interested in doing so because of strong bilateral ties.
Abundant Funding at Low Prices
Singapore is home to more than 128 commercial banks, 31 trading banks, 365 fund managers and 604 license holders of capital market services. As a major center for wealth management and investment throughout Asia, it is easy for businesses to have access to private and commercial banking services to finance their expansion at low-interest rates. Various tax incentives, financing schemes, and cash grants encourage businesses to regulate their entities in the country.
Efficient Tax System
An open and honest tax policy, tax exemptions and financial incentives make Singapore the most sought-after destination in the APAC region for companies that want to enter the Asian market.
Together with the single enterprise-level income tax system, the government has signed more than 21 free trade agreements with 27 economies and 76 comprehensive avoidance of multiple tax treaties that facilitate smooth cross-border business. This tax incentive has attracted and retained foreign businesses, investors and start-ups to Singapore.
Easy Company Setup Process
The country welcomes open arms investors, entrepreneurs, and professionals who can complement the economy.
Stable Government and Economy
When governments around the world dream of entrepreneurship to create jobs and drive the economy forward, it is important to look at the growth story adopted by the Singapore government. A stable, transparent and orderly government, with a vision to bring the nation on a progressive path has brought Singapore to become a business and innovative center.