WHY DO BUSINESS IN SINGAPORE?
Singapore is a top world class city to Work, Live, Study and Play. This globally connected, multi-cultural and cosmopolitan citystate offers a conducive environment to numerous industries, including creative and knowledge-driven industries.
Singapore is no stranger to success. Part of the reason for this is the ethic of hard work we Singaporeans share and of course
the influx of talented professionals from around the world . The conditions that make the country a great place to start a family
and settle down have attracted plenty of notice among everyone from around the world.
You can find out more about Singapore from www.mysingapore.com
Abundant Opportunities
Global businesses find it advantageous to site their headquarters in Singapore. Strong trade and investment makes Singapore
the most competitive Asian country (Global Competitiveness Report 2008). The World Bank also ranks the Republic as the
world’s easiest place to do business (Doing Business 2009 report).
By situating their international HQs here, some 6,000 multinational companies benefit from Singapore’s network of over 50
comprehensive Double Taxation Avoidance Agreements. They also gain from Singapore’s many free trade agreements and the
35 Investment Guarantee Agreements. These FTAs have enable Singapore to establish a network to countries that contribute at
least 60% of global GDP. Companies can always rely on protection of their ideas and innovations through Singapore’s rigorous
enforcement of its strong intellectual property laws.
Singapore is a leading provider of services such as international banking, trade finance, maritime finance, insurance, treasury
operations, and asset and wealth management within the region. Singapore is the fourth largest foreign exchange trading centre
in the world.
Companies based in Singapore can tap the diverse capital markets and cutting-edge financial services from more than 500 local
and foreign financial institutions here. In addition, there are over 4,500 companies offering professional services, including audit,
accounting and management consulting; market research, advertising and public relations; human capital services; and legal
services.
Singapore is also fast emerging as an optimal destination for the centralisation of services or “shared services”. Centralising
activities such as IT, finance, and logistics, offers benefits such as lower operating costs, consistent service levels and
enhanced productivity.
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Here are some reasons why Singapore continues to be the preferred location for businesses to thrive in:
Business Legislation and Efficiency:
Competitiveness & Business
Labour:
Environment:

Singapore is ranked No. 1 for having
the most open economy for
international trade and investment.

Singapore is the world's easiest place
to do business.

Singapore has the best business
environment in Asia Pacific and
worldwide.

Singapore is ranked the most
competitive country in the world.

Singapore is ranked No. 1 for having the
most open economy for international

trade and investment.



Singapore is Asia's most "network
ready" country.

Singapore is first in the world for having
the best protection of intellectual
property.

Singapore is the least bureaucratic
place for doing business in Asia.

Singapore is the world's easiest place to
do business.

Singapore has the best business
environment in Asia Pacific and
worldwide.
Singapore is Asia's most "network
ready" country.
Singapore maintains top position in
BERI's Labour Force Evaluation
Measure.
Singapore is ranked 7th in the world
and 2nd in Asia for having the most
motivated workforce.
Singapore offers the best skilled
labour in Asia Pacific.

Singapore's labour regulations are the
most business conducive in Asia.

Singapore has the best
labour/employer relations in Asia.
Government:
Economic Performance:
Expatriate Living:

Singapore is ranked 4th in the world and 
1st in Asia for having the least corruption
in its economy.
Singapore is ranked No. 2 worldwide as the 
city with the best investment potential for 15
consecutive years.
Foreign talent rank Singapore as
Asia's best country to work in.

Singapore is ranked the most

transparent country in the world and Asia
Singapore is the world leader in foreign
trade and investment.

Singapore is the first choice for
Asian expatriates.

Singapore is the best place in
Asia to live, work and play.

Singapore immigration laws for
foreign talent are the least
restrictive in Asia.
Singapore Best City in the World to live in for Asia Expatriates - ECA International 2007
Asian expatriates have voted Singapore as their preferred destination, according to a location ranking survey of 254 cities,
conducted by ECA International. The report said Singapore won the award because of its excellent infrastructure and facilities,
coupled with its cosmopolitan makeup, low crime, socio-political stability and favourable climate
©2013 Enterprise Development Hub, Singapore
All Rights Reserved
www.edhsingapore.org
One of the most attractive features of doing business in Singapore.
OUTSTANDING TAX SYSTEM
Taxes are the top in priority for business owners & a key consideration when setting up your business anywhere in
the world. Singapore wets the appetite of entrepreneurs with our low effective personal and corporate tax rates.
Personal income tax has a tier system that starts from just 0% and goes up to 20% for income above S$320,000.
Similarly, effective corporate tax rate for Singapore private limited companies for profits up to $S300,000 is below
9% and capped at a flat rate of 17% for profits above $S300,000. There are no capital gains taxes in Singapore,
which follows a single-tier tax policy; for income that has been taxed at the corporate level, dividends can be
distributed to its shareholders tax-free.
In an effort to move away from a dependency on income taxes and to make the economy even more competitive,
the government has adopted a more broad-based consumption tax called Goods and Services Tax
(GST). Singapore maintains one of the world’s lowest GST rates (currently 7%), ranking below the global average
VAT/GST rate of 16.4%, and the Asia-Pacific average of 10.5%.
Most importantly, they have also included many tax incentives for entrepreneurs to enjoy when doing business in
Singapore. For more information about taxes in Singapore, refer to www.iras.gov.sg
Other incentives for setting up business in Singapore available at
http://www.edb.gov.sg/content/edb/en/why-singapore/ready-to-invest/incentives-for-businesses.html
Resource:
Nanyang Technical University, Business School
Economic Development Board, Singapore
Contact [email protected] for more information on how to benefit from EDH Services,
doing business from Singapore
Hp 8344 2646 / 90149952
©2013 Enterprise Development Hub, Singapore
All Rights Reserved
www.edhsingapore.org