Doing Business in Singapore

Singapore is often chosen as a preferred destination for businesses and individuals for various reasons. Let’s delve into each point to understand why Singapore is an attractive choice:

10 Reasons Why Singapore Is An Attractive Choice for Business

1. Good corporate governance

Singapore is known for its robust legal and regulatory framework, which ensures transparency and accountability in corporate practices. This provides businesses with a stable and secure environment to operate in. 

2. Stable and resilient economy

Singapore has built a reputation for maintaining economic stability even during global economic downturns. Its strategic location as a major trade and financial hub in Asia contributes to its economic resilience.

3. Low corporate tax rate  

17%: Singapore offers one of the lowest corporate tax rates globally, making it an attractive destination for businesses looking to optimize their tax liabilities. 

4. Enjoy tax exemption up to S$200,000/year 

Singapore offers tax exemptions and incentives to small and medium-sized enterprises (SMEs), which can significantly reduce their tax burden, encouraging entrepreneurship and business growth.

5. No capital gain tax and no dividend tax 

Singapore’s tax system exempts capital gains and dividends from taxation, providing investors and shareholders with an added advantage. 

6. Low personal tax rate from 0% to 24% 

The individual income tax rates in Singapore are relatively competitive, making it appealing for professionals and high-net-worth individuals. 

7. Entry access to the Southeast Asian market 

Singapore’s strategic location in Southeast Asia grants businesses easy access to a rapidly growing regional market with over 650 million people. 

8. Multilingual and multicultural 

Singapore is a diverse society with a mix of cultures, languages, and ethnicities. This makes it an ideal location for businesses looking to tap into diverse talent pools and cater to international markets effectively. 

9. Low crime rate

Singapore is renowned for its low crime rate and stringent law enforcement, creating a safe and secure environment for businesses and residents alike. 

10. Good educational system 

Singapore boasts a strong education system, with an emphasis on science, technology, engineering, and mathematics (STEM). This ensures a skilled and knowledgeable workforce, making it an attractive destination for businesses seeking talent. 

Overall, the combination of favorable business conditions, attractive tax incentives, strategic location, and a stable environment has made Singapore a prominent global business hub and an appealing choice for many investors, entrepreneurs, and professionals.

Aura Partners Singapore is happy to assist you with your company registration, accounting, tax, and corporate secretarial needs. You may contact us here.