Singapore: The Ideal Avenue Into the Broader Asia Markets
Singapore, its role as the financial gateway to Southeast Asia as well as the other Asian’s regions has proved a mixed blessing. Situated in the heart of Southeast Asia, the geography is making Singapore possible for businesses to access a market of 3 billion people within a few hours flight.
Many times, Singapore is called the Switzerland of Asia due to its strong economy. Tax benefits, government help and easy access to regional markets continue to assert Singapore’s position as one of the regional financial hubs in Southeast Asia. Also, Singapore is often referred as the expat-friendly country with no capital gains taxes. Under Singapore’s one-tier taxation system dividends are not subject to tax in the hands of the receiver. Other than the vast network of free trade and tax treaties, Singapore also offers one of the most attractive corporate tax structures in the world.
Furthermore, the Singapore government’s focus on start-ups has proved to build a business-friendly ecosystem that could provide “gravity and momentum” for investments. Strong backing from the Singapore government is a key factor for entrepreneurs to grow in the nation.
The country has an excellent literacy rate (in other words, they have the well-educated and highly-skilled workforce), low rates of crime and corruption. The open Immigration policy eases the relocation of foreigners who wish to setup businesses in Singapore, and the foreign professionals are eligible for an Employment Pass in Singapore. All these contribute as the magnets that pool talents and investors in the country.
In short, Singapore is extremely well-positioned to back a hub of investments that represents an avenue into the broader Asia markets with the following reasons:
- Business-friendly ecosystem
- Well-educated workforce
- Minimum red tapes
- Strong legal system
- Ease of setting up a business
- Attractive tax rates
- Good government benefits
- Easy access to other Asian markets
- Quality of life
You definitely need to make Singapore a big part of your Asian investment portfolio. Whether you are a seasoned investor, or just starting out, Singapore has lots to offer.