We analyzed why you should choose Singapore for business as well as the benefits Singapore provides to companies looking to head-quarter their Asian operations here.
You will be a part of the start-up nurturing and business-friendly ecosystem
Singapore consistently tops World Bank’s Ease of Doing Business report due to its hassle-free business set-up processes and was also rated as offering the best IP protection, infrastructure, and incentives in Asia by World Economic Forum’s Global Competitiveness Report 2015-16.
The Economist Intelligence Unit, Country Forecasts Report in 2014, ranked Singapore as the most attractive investment location, both regionally and globally.
The Global Innovation Index (GII) 2015 ranked Singapore as the best-performing Asian country in terms of innovation performance.
Besides providing easy access to capital to budding and successful entrepreneurs, Singapore continues to be well-regarded as a triple-A rated economy and a stable location for business expansion as well as for investments. The country hosts over 128 commercial banks, with many head-quartered here to service all their regional activities.
There are also 31 merchant banks and 604 capital markets services license holders in Singapore.
It is also the hub for wealth management and investments in Asia. The city-state has the world’s third largest forex trading center, Singapore Exchange (SGX).
The Singapore Government has played its part too in propelling the nation towards a thriving start-up ecosystem. One of its initiatives is called Startup SG, which is essentially a launch pad for entrepreneurs by providing them with a platform to access local support initiatives as well as connect to the global entrepreneurial network.
The platform of Startup SG is categorised under six different pillars. Start SG Founder – for providing valuable mentoring to first-time entrepreneurs; Start SG Tech – for providing early-stage funding for commercialising a tech idea; Startup SG Equity – which catalyses equity investment for start-ups; Startup SG Accelerator – aimed at enhancing capabilities of accelerators or incubators; Startup SG Talent – which guides entrepreneurs on how to attract and retain promising global talent as part of their team; and Startup SG Loan, which connects start-ups to much needed financing.
You will enjoy high degree of personal safety and benefit from a strong legal system
Singapore has the most stable political environment in South-east Asia, offering entrepreneurs and investors a strong sense of security and comfort. The rich variety of dining and entertainment options, world-class education systems, and quality health-care providers in Asia provide an ideal location to raise a family. Moreover, in the event of cross-border disputes, businesses can rely on Singapore’s reputation as a world-class arbitration facility.
Additionally, in its Global Competitiveness Report 2015 – 2016, the World Economic Forum ranked Singapore as having the best IP protection in Asia. The same report recognises Singapore as a country with sound political infrastructure and policy-making procedures; leading to its ranking as the most transparent country in Asia that enjoys a stable business environment.
It is also the least corrupt country in the Asia region, where transparency is valued highly. This is according to the IMD World Competitiveness Report 2015.
Check out more of the reasons why you should start a company in Singapore at Singapore Company Incorporation.
