Singapore is well known as "the Switzerland of Asia." With a population of approximately 5 million people, Singapore has an astounding 90% literacy rate, and over 85% of inhabitants have a secondary or higher education. The country has almost zero crime, zero corruption and no drug problem. Quality of life is extraordinary; the air quality is wonderful (unlike Hong Kong), there is no pollution problem (as with most neighboring countries), there is a strong environmental management policy and residents enjoy a sophisticated international offering of culture, food and entertainment. The country has many green spaces, a good retirement savings system called CPF and a generally highly content diverse population making lots of money. Unemployment remains at around 2%.
According to a study by the United States-based Milken Institute, Singapore was the second-best capital market in Asia, after Hong Kong, and came in fourth globally in the efficiency of its financial markets at delivering capital to entrepreneurs. Hong Kong was ranked No. 1 globally for the third straight year. The Netherlands and Britain were the other two mature markets Capital Market Asia that were ranked ahead of Singapore globally. Singapore was marginally behind third-placed Britain. Official name of Singapore is the Republic of Singapore. Singapore is a relatively small island state lying just off the coast of Malaysia at the very south end of Malaysia and just before Indonesia. Total 704.0 km² (270 sq mi) Capital: Singapore City Government: Parliamentary republic Official languages: English, Mandarin Chinese, Tamil, Malay
Singapore is known for its pro-business environment which attracts sizable foreign investments and business entrepreneurs. It provides you with an environment where you can turn your ideas into businesses with ease and profitably. It only takes about 1-2 days to incorporate a business in Singapore. There is assistance provided by several government bodies at every step of the way.Setting up a business could not get easier anywhere else in the world.
Taxes are very important for any entrepreneur and one of the key considerations for setting up a business . One of Singapore's unique advantages is its low effective personal and corporate tax rates The corporate as well as personal tax rates in Singapore are much lower than most of the other countries. . Personal income tax has a tier system that starts from just 3.5% and goes up to 20% for income above SGD 320,000. Similarly, the tax rate on corporate income below 300K is below 9% and above 300K the tax rate is 18%. Furthermore, there is no capital gains tax in Singapore. New Singapore company setups enjoy zero taxes on first 100K of taxable income for each of the first three years. Effective YA 2010, corporate income tax rate will be reduced from 18% to 17% to help maintain Singapore's competitiveness. Furthermore, there is no capital gains tax. Singapore follows a single-tier tax policy which means once the income has been taxed at the corporate level, dividends can be distributed to shareholders tax free. Singapore government has also introduced many industry-specific tax incentives to encourage foreign investment and growth of the targeted industries in Singapore The government has adopted a more broad-based consumption tax called Goods and Services Tax (GST) to make the economic more competitive. Although the GST has gone up to 7% from 5%, Singapore still has one of the lowest GST rates - below the global average VAT/GST rate of 16.4%, and the Asia-Pacific average of 10.5%.
The Singapore government has establish several programmes to help your company in Singapore improve efficiency, strengthen capabilities and introduce new opportunities in every aspect of your business. Some programmes cater to the needs of business start-ups and local enterprises, while others are designed for large global companies that want to base their regional
Singapore is considered as one of the most stable societies in Asia. Singapore welcomes business oriented people, and is particularly keen to attract foreign talent able to contribute to the nation's development and growth. Most foreign professionals and entrepreneurs who setup businesses and re-locate to Singapore do so with their family. Singapore offers a good quality of life - the social environment, cost of living, accommodation, education etc. On this front too Singapore scores high. Singapore residents truly appreciate the clean, safe and efficient society. Singapore has instant appeal for those wishing to move here start their career and bring along with them their family. For this we facilitate the PR and Relocation services to Singapore for Investor and Entrepreneurs.
One of the major advantages of doing business in Singapore is its location. Singapore is strategically located at the heart of asia pacific. It's extensive air and sea linkages enables your business to access 2.8 billion people within a seven hour flight radius. This makes it a critical joint for professional exchange as well as inter-regional and intra-regional trade. Singapore's port is one of the busiest in the world and the country is classified as a premier International Maritime Centre Singapore has several Double Taxation Agreements (DTAs) with several countries across the world.