Did you know that Singapore has one of the world’s strongest economies? Aside from the top quality of life, it is also one of the best places to move to if you want to help your business grow. Read on for four reasons why business owners should make a move to Singapore.
Economic fundamentals
According to the Euromoney Country Risk Survey, as of 2019, Singapore was the least risky country for investments in the world. With the political stability of the area and the low corruption rates that come with it, this is a great place for small businesses to grow without worrying about being overtaken. The economy is also manufacturing-based, so any company from chemicals and pharmaceuticals to information technology will thrive in this environment.
Something else that Singapore is striving for is new advancements in digital technologies to further the success of businesses in an online world. The government needs collaborations with businesses to make this work. So, if you’re a business specializing in artificial intelligence, data analytics, cybersecurity, and immersive media, then you’ll have the opportunity to be at the center of this digital transformation.
Innovation
Singapore is considered to be a global center of innovation and houses multiple R&D labs for Fortune 500 companies. Companies such as Grab, Sea, Lazada, and Razer also have their Asian offices here. Singapore always collaborates with newer and smaller companies to develop solutions for all types of problems, while also helping these companies grow.
With these innovation capabilities, Singapore is also known worldwide for being a global leader in high-quality manufacturing. The government is planning to invest over 3 billion dollars over five years to further increase the advanced manufacturing capabilities in Singapore, so if you make the move now, your company may take part in this plan.
Easy Setup
Setting up a business in Singapore is not only quick and easy but also affordable. Business regulations and processes are becoming more and more transparent. The entire sign-up can be done online, so you can start moving your business even if you aren’t in Singapore yet.
With over 3,000 startups and a global network of over 300 investors, the business environment is thriving. Multinational successful companies work with smaller startups to test and commercialize their solutions while also helping these startups grow and gain exposure.
Innovative spaces like business parks and centers in Singapore help connect startups to expertise and networks, so you can always find the help you need.
Let One Visa help you to set up a Singapore company in 3 days. Learn more about our incorporation service.
Immigration Policies
Singapore is considered an economy that is always open for international businesses to transfer their overseas employees to Singapore. As long as there is a genuine need for these key executives to relocate to Singapore for work, you should not face any difficulties in securing the right work pass for your employees. Get more information on Types of Visa for businesses.
Global Connections
Singapore is located along the path of the major world trade and is one of the most connected countries. It is linked to over 600 ports globally, and more than 200 shipping lines go through Singapore. Once you move, your business opportunities will increase drastically, since you will be within a six-hour radius of any Southeast Asian country, so you will gain access to a growing consumer market.
Not only will you get to connect with other countries, but they will also connect with you. The top players in many industries are also in Singapore, and global talents move here. Many international business events and conferences are held in Singapore, so you will be able to form business relationships with many strategic partners, and exchange knowledge with professionals.
Singapore also has a network of 25 free trade agreements globally, so you will be able to trade easily with major economies.
As you can see, moving to Singapore will increase your business success. Interested in moving to Singapore? What are you waiting for? Contact us right now to get your free initial assessment.
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