High Level of Government Support
One of the most alluring attractions to Singapore is the level of government support for economic growth both in domestic as well as foreign entities. Many foreign firms appreciate the fact that there are no capital gains taxes or taxes on interest for those who are non-residents. The Singaporean government recognises that financial growth depends upon the level of ongoing business within their community.
Truly Multicultural City
Another favourable factor that attracts foreign enterprises is that Singapore is a truly multicultural city. Although the population is largely comprised of Chinese, there are significant numbers of other cultures represented as well. Those of Chinese descent comprise approximately three-quarters of the population with the original inhabitants, Maylays, only factoring in at roughly 14%. Even so, English is the official language in education and business, so most foreign nationals are comfortable carrying on commerce here.
Political Environment That Is Stable
Even with all that said and done, perhaps the single most solidifying factor is that the political environment in Singapore is quite stable. With current unrest centring on energy deals going back and forth between Russia and China, and the political unrest in Korea, it is nice to know there is a city like Singapore that affords a great deal of safety in an area generally marked as volatile.
Contrary to public belief, Singapore is not part of China as it has its own parliamentary government. This should serve to ease the misconception that it would be difficult to transact business in a communist country. Singapore is a city, yet Singapore is a totally distinct nation as well.
State-of-the-Art Telecommunications Infrastructure
According to Credit Suisse, many business enterprises from nearby markets in Southeast Asia set up a home base in Singapore because of the city’s state-of-the-art telecommunications infrastructure. Many of the smaller, emerging markets in the area do not have the advantage of reliable communications it takes to run efficiently. Consider what it would be like trying to work from a locale where the market indexes couldn’t be checked throughout the business day? Singapore offers the perfect solution for those markets as well as for Western corporations looking to transact business in a stable Southeast Asia environment.
The information provided at http://www.servcorp.com.sg/en/news-articles/business-articles/doing-business-in-singapore/ gives but a small glimpse at just how desirable it is doing business in Singapore. With a wide range of exciting places to visit, life in this amazing city is never dull. From entertaining clients to spending much needed rest and recreation, this is one city that encompasses the best there is to be found in business as well as in pleasure.