Numerous companies throughout the globe talk about the benefits of setting up in Singapore. It is consistently ranked as one of the easiest places to set up and do business anywhere in the world. Setting up a new company in a foreign country can be a real challenge, especially if you do not seek help from a consultant. Here are some of the benefits of choosing Singapore over other places.

Reputation

Singapore has an excellent reputation when it comes to doing business. They have business friendly policies that benefit both local and foreign investors. The country has won many accolades which have been handed down by well-regarded international organisations.

They have a pro-business stance that attracts a huge number of foreign investors each year. Although company registration in Singapore is straightforward and easier than a lot of other countries, it pays to hire a knowledgeable business consultant who understands the procedure.

Here are some of the main reasons why so many investors choose to do business in Singapore:

  • Efficient open economy
  • Top 10 wealthiest countries
  • Quality intellectual property protection
  • Minimal bureaucracy
  • Excellent infrastructure & stable economic climate

There are many reasons why Singapore is perfect for your business, they have a robust economy, low tax rates and highly trained staff.

Foreign Ownership

Unlike many countries in South East Asia, Singapore allows 100% foreign ownership. You do not need any local investor or shareholder to set up a business. In addition, there are no restrictions on the amount of capital you bring from another country. One of the biggest obstacles people encounter when setting up abroad is ownership, they are put off investing simply because they do not control the entire business.

Competent Workforce

Singapore stands out as one of the powerhouses of Asia, it has a world class educational system that continues to churn out a highly skilled workforce. Students are among the best in the world and when they graduate, employers are faced with an envious selection of intelligent workers. They have a reputation for being hard-working, motivated, and productive.

Well-developed Free Market Economy

Singapore has a robust economy, one of the strongest in Asia, if not the world. Their economy is primarily based on trade and it has been flourishing for many years. It has an extremely low unemployment rates as many of the labour force go to third level education and enter the workforce highly skilled.

The country has no external public debt, allowing it to save as estimated 50% of its GDP. It exports billions every year, even for a country that only has a population of just over 5 million people. It actively invests its capital in education, housing, health and more.

There are many good reasons to start a company in Singapore. There is no corruption in the country, it has an English-speaking workforce, there is great infrastructure, and the process is not difficult. The easiest way to get your company up and running is to contact a business consultant who has detailed knowledge of the region and in particular Singapore.