It is vital for you to decide the place where you are going to start your business if you want to be successful. Every nation in the world has their guidelines and policies that companies need to adhere to if they desire to start their business there.
Singapore in Asia is the best place to start up your business. You should also note that this country is considered as one of those nations wherein you can set up your business with ease. Global investors and entrepreneurs are going to benefit a lot when they start up their business in this innovative, high-tech, and commercially geared nation.
Many people, however, are not sure if it is the right decision that they are going to make. Here are some details of why it is one of the wisest choices that you will be making.
Politically Stable Nation
World Bank ranks Singapore as one of those countries wherein people can do business with ease. According to Dalen Cheng from KC Ha Consulting, government stability is a leading factor to running a global business successfully. Singapore ranks well when it comes to political stability. It is interesting to note that the ruling party of this nation is in power for more almost 65 years now. If you are going to start or set up your business here, there is no turning back.
Provides Excellent Connectivity
Singapore is the home to some of the best and leading companies in the world today. These companies are widespread across various industries. You can say that Singapore is in the heart of south-east Asia. It is close to China and India which are the emerging markets in Asia. The Changi Singapore Airport does serve almost 80 of the international airlines and connects to more than 300 cities across the globe. This country also hosts some of the top logistics firms such as FedEx and UPS.
As per World Bank, Singapore ranks on the top in Asia when it comes to logistics performance. The seaport infrastructure of Singapore is the best in Asia over the past two decades. The container port in Singapore is one of the busiest in the world.
When it comes to information technology (IT) and telecommunications, it is fascinating to note that Singapore’s broadband networking is reaching almost 99% of the total population.
Starting a Business In Singapore Is Simple
Singapore provides the best startup ecosystem in the world and Asia. The process to start a business is simple. Government ensures that people do not face any hassles if they want to set up a company here. There are more than 123 commercial banks and 31 merchant banks that help the regional markets.
The Tax System
The tax rate in Singapore is quite low when you compare with any other country in the world. They capped the corporate tax rate at 17%. And this applies when you earn profits more than $300,000. The VAT rate in Singapore is the lowest in the world as they charge only 7%. The best part about the taxes in this country is that there is no capital gain tax.
Immigrate Easily to This Country
The immigration policy in this nation is open, and it welcomes people from all nationalities. If you are planning to set up your business here in this beautiful country, you can do it with ease. One can move to this country with ease. The best part about living in Singapore is that is the most happening country in Asia. You will love living in this remarkable nation.
Hire the Best People
The beauty about starting your business in Singapore is that you will find a pool of talented people here. People from different nations with excellent skills are working or looking out for jobs here. By hiring the best, you are going to scale up your startup within no time.
After all, people are the main asset that a company should have if they have a desire to progress. If you are starting your business elsewhere, you will not be able to succeed in finding the right talent with that ease.
Protects Your Intellectual Property
If you want to protect your IP or intellectual property, Singapore is the ideal place to set up your business. Here, the laws are quite strict with regards to patent, trademark, and copyrights. These things will protect your work from getting stolen. You can stay relaxed and stay happy as a result of it.
These are some of the excellent reasons why one should plan on starting their business in Singapore.
