Globally Singapore Is One Of The Best Location For Business
Categorically the news has been the buzz of town for quite some time, but the recent studies only validate them further. We are talking about the much-viewed destination for business, local as well as foreign, which is none other than Singapore.
A research using Global 500 list was conducted by CB Richard Ellis (CBRE), gave an affirmative to this fact. Singapore was just one place behind Hong Kong. A cut-throat competition included a statistics based on top 280 global companies. A list of top 5 best business locations was sieved by CBRE. The results were astounding; Singapore was at No. 2 with resident companies numbered 181, which come out to be 67.5%.
But sooner or later a gradual drift is predicted with Singapore at No. 2 would go on to be No.1. Prominent sectors where Singapore grabs the attention of global companies include service sector and industrial goods, being the top preferences. Banking, financial and media service come on top five.
Recent researches reveal how Singapore has become a favored destination for not just business but for all job seekers, students and a place to live with family. The after study prospects for students are great and the business prospects for avid investors are pretty safe. That is why it is becoming a popular destination worldwide.
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The credit for Singapores performance owes more to its self-improvised infrastructure and facilities. Analyzing some of the major contributors to Singapores popularity, we find that the followings point to be assets.
1. Singapore Visa & Immigration Regulation – The Singapore immigration policy has been carefully crafted to attract only the best minds. Stringent though, Singapore Visa has various categories for the convenience of all. This is the reason why staff relocation or getting a Singapore Visa is not that difficult through right channels. The relaxation in the availability of Singapore Visa is what has garnered companies an easy thoroughfare.
2. Tax Slab Singapores tax rates have been a motivation for big foreign business ventures to set foot on this land. Corporate Tax System guarantees a profit surge, with rates that include 8.5% for profits up to $300,000 and a flat 17% above $300,000. Apart from this, the GST tax rate is followed at 7%. There is no Estate Duty and no tax on Capital Gains.
3. Transparent Legal System An extensive research shows that Singapore is indeed the least corrupt nation of the entire South Pacific Asia. With relatively low crime rate, fast trials and absolutely no red tapism, Singapore is heaven for business setups.
4. Business Friendliness The Free Trade Policies, liquid market, and opportunities in Singapore have prospered it into an investment hub. Secondly, the job market here is in a boom with great salary perks, refurnished with skilled labor and incentives. Just what a new business needs for flourishing.
5. Geographical Locale – The approachability and the positional locale of Singapore is a big boon for business here. This comes as big strengthening factor and cements Singapores position further.
The near future definitely shows South Pacific countries mainly Singapore as a bustling center for business and commerce that too as number one.