Singapore - A top business destination among equals

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Singapore's profile as a hot destination for business and startups has been steadily rising. We study this trend with practical reasoning.

Servolve (www.servolve.com ) is a specialist consulting firm working with corporates in their expansion into Singapore and entrepreneurs in their new business launch.

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Singapore - A top business destination among equals

  1. 1. Singapore - Top business destination among equalsSingapore – the red dot of South East Asia has been named many times as a primedestination for industries and individuals alike. It has been named among top global citiesto watch out for along with popular neighbours like Shenzhen, Gurgaon, Istanbul etc evenas recently as the year 2011. There are many reasons why the city state has become soattractive to both individual and corporate investor alike.Mr. George Mathew, CEO of the Servolve group of companies, commented on the overallattractiveness of Singapore as a business destination, “Singapore has consistently rankedamong the top nations of the world and has been scrupulously working towards ensuringthat it remains on top of the game both for businesses and individuals who have investedinto the country. Everything from the strategic location to the high quality of living, Singaporeis a great choice for businesses and individuals alike. Perhaps this is the reason why moreand more companies from around the world are beginning to shift their focus to Singaporefrom the Eurozone and Americas”.We try to find out the main reasons why the city state is so attractive for business andindividuals alikePrime location and trade agreementsSingapore is located conveniently at the heart of Asia. The infrastructural ability thatSingapore can provide is world class and satisfies the needs of companies in trading ornon-trading background. Singapore has about 68 fully concluded trade agreements withneighbouring countries. It allows for double taxation relief with most of the partneringnations, this which has become an incentive for many business houses to considerSingapore as their next location.Moving goods and people in Singapore is very easy due to the state of the art facilitiesavailable. Singapore metro system was awarded the “Best Metro Asia-Pacific” by the “TheMetros” in 2010 and was termed as “ahead of any other transport system in the Asianregion.The quality of life in Singapore is way ahead of its counterparts and other major cities ofAsia. The Mercer Quality of Life Survey 2011, ranked Singapore at 8 among world nationsfor personal safety and is generally known as a city safe for corporate as well as individuals.In overall ranking Singapore is ranked ahead of other Asian counterparts like Hong Kong,Malaysia, India and China.The World Banks, Doing Business 2011 Report has ranked Singapore World’s easiestplace to do business. This is not surprising as a company formation in Singapore can becompleted on average within 3 days. This can be followed up with opening a bank accountfor the company within the next 10-15 working days complete with internet banking facility.About the authorNeethu Stephen is a senior consultant at Servolve - a specialist consulting firm working withstartups in Singapore. To understand more about whether Singapore suits your businessand individual needs, contact info@servolve.com or visit our Singapore company formationportal.

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