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Iceni Magazine | August 12, 2020

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Why You Should Set Up Shop in Singapore

Why You Should Set Up Shop in Singapore

Singapore offers a little bit of everything for anybody planning to expand their business globally. Aside from being a global economic hub, Singapore is equipped with world-class.

Additionally, the country offers a perfect mix of cultures, all of which set the tone for an ideal business environment. If you’re thinking of expanding your business globally, here are the top reasons why you should consider settling down in Singapore.

Flexible Legal System

Singapore boasts a legal system that has the interests of foreign business partners at heart. Additionally, there are also arbitration and mediation systems in place to help sort out legal matters out of court at a practical cost.

For a business person, this should be very convincing as you’re always on the lookout for business hubs that will not only offer you support but also protect your interests.

Diverse Cultures

In Singapore, you’ll get to interact with Thai, Malay, Arab, and Indian communities, among others. Multicultural states are always good for business as they give you a platform to learn about different cultures and their languages.

Understanding different cultures is always a valuable entrepreneurial skill that will help you access different world markets.

The Process is Simple

The Singaporean government, alongside other relevant stakeholders, have made it simpler for foreigners to start a business. Nowadays, you can quickly get your business permit alongside other legal documents required through the Internet.

Additionally, you will not be required to pay any extra levies to get your business permit. If you’re a business person looking to get your Singaporean visa, visit website and you’ll get your travel documents processed. Β Β Β 

Ready Workforce

One challenge most entrepreneurs face is getting talented and qualified staff to hire. However, this isn’t a problem in Singapore. The country offers an educated, multicultural, and skilled workforce ready to start your endeavor into a profitable business.

Friendly Tax Rates

The government of Singapore is leaning towards giving entrepreneurs an easy time for their businesses to hit the ground running. Startups enjoy exemptions from the revenue authority for some months.

Additionally, their tax rules are also considerate to foreigners, and there is always ample time provided for you to file your tax returns without too much pressure.

Excellent Infrastructure

Singapore acts as a link between southeast Asia and the rest of the continent. The country features well-developed road and train networks coupled with world-class airports, making traveling to other countries within Asia easy.

Nature Parks and Historic Sites

It will not be about work always; at times you will want to tour the country and learn a few things about its history. Singapore has lots of tourist attraction sites each unique.

Trips down to places such as Marina Bay or the Singapore Botanic Garden are always good for winding down and relieving work pressure.

Great Food

In Singapore you’ll get a range of different cuisines that will tickle your taste buds. Additionally, there are many street food vendors, and food prices are just right.


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