Factors to Consider in Setting Up a Business in Singapore | Why Set Up a
Business in Singapore?
Why Set Up a Business in Singapore?
Many people consider relocating to Singapore because of its political climate, pro-
business environment, cultural atmosphere, health and education system, public service
and infrastructure, and natural environment.
Foreign investors and entrepreneurs are setting up businesses in Singapore because it is
a doorway to almost all of the Asian markets.
Here is a checklist that will help you in your decision on setting up a business in
Singapore:
Factors What Singapore Has to Offer
Strategic Location Singapore is easily accessible by air or by sea.
Singapore's port is one of the busiest in the world.
The Changi Airport allows you to connect to over
180 cities worldwide. Incorporating a Singapore
business entity is a smart move since the location
allows you an easy geographic access to all premier
Asian markets.
Diverse Cultures Setting up a business in Singapore allows you to
cater to many cultures, and thus, a wider market.
Stable Legal System Singapore has an efficient, transparent and sound
legal system.
Good Governance Singapore has a stable, pragmatic, rational and
proactive government. You can be assured that
setting up a Singapore business entity will not
involve red-tape or bureaucratic delays.
Liberal Immigration Policies The liberal Singapore immigration policies allow for
an easy relocation of foreigners who want to set up
their businesses in Singapore.
Pro-business atmosphere Singapore is known for its attractive schemes for
foreign entrepreneurs. Setting up and doing
business in Singapore is easy. It will only take you
1 to 2 days to incorporate a business in Singapore.
Attractive Tax Schemes Singapore offers low effective personal and
corporate tax rates. The Personal income tax has a
tier system that starts from 3.5% and up to 20%
for those with income above $S320,000.
Effective corporate tax rate for Singapore private
limited companies with profits of up to S$300,000
per annum is less than 9%. While those with
profits of up to S$300,000 have a 17% tax rate.
Singapore’s single-tier tax policy provides that once
the income has been taxed at the corporate level,
the dividends can be dispersed to shareholders free
of taxation.
Furthermore, Singapore has one of the lowest
Goods and Services Tax (GST) rates, which is only
7%.

Infrastructure The infrastructure of Singapore is highly advanced.
Singapore’s physical and research infrastructure
helps make setting up your Singapore business
uncomplicated.
Free Trade Agreements FTA's or Free Trade Agreements allows you and
your business to enjoy benefits such as tariff
concessions, exclusive access to certain sectors,
speed market entry and Intellectual Property (IP)
protection.
Work Force The work-force of Singapore is competitive,
productive and meets world-class standards. Its
work-force is known for its high educational level,
excellent output, proficiency, industriousness,
professionalism and technology-savvy culture.
To cater to people who wish to migrate, Singapore presents different options for
migration. These are:
1. Migration to Singapore using the Employment Pass (EP);
2. Migration to Singapore using the EntrePass (Entrepreneur Pass);
3. Migration to Singapore using the MAS Scheme; and
4. Migration to Singapore using the EDB Scheme.
AsiaBiz provides complete range of corporate services under one roof for Singapore
company formation, foreign company registration, statutory administration, accounting,
tax filing, immigration and related corporate services to business individuals and
corporation worldwide.
Singapore Company Registration
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Registration,Business Setup in Singapore, Singapore Incorporation, why singapore