Eight reasons why Singapore is the best country to start your business

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Eight reasons why Singapore is the best country
to start your business
Bestar Services Pte. Ltd
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Eight reasons why Singapore is the best country
to start your business

• Various Asian countries have become a stage for
  entrepreneurs to start and establish their
  business. These countries include India, China,
  Vietnam, Malaysia, Singapore and others. They are
  favorite locations for entrepreneurs because the
  policies are friendly and the environment is
  business-friendly.
• But Singapore stands out when the entrepreneurs
  want to relocate their company or start a new
  one. Singapores Economic Development Board calls
  the country the best place in Asia for your
  business.
• Let us take a look at the reasons why Singapore
  is the best place to start and run your business

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1. Connectivity to a global reach
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2. Infrastructure in Singapore
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3. Business-friendliness

• Singapore ranks in one of the top countries who
  offer Ease of Doing Business according to the
  World Bank.
• The country is also rated as one of those that
  offer the best IP protection infrastructure and
  incentives in the continent.
• These ranks are maintained by the World Economic
  Forums Global Competitiveness Reports.

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4. Tax structure

• Singapore is known to have signed more than 25
  free trade agreements and about 70 comprehensive
  avoidance of double tax agreements. Because of
  this the business and trading are made easy.
• Because of such policies the taxation barriers
  for trading and investment have decreased
  significantly. Additionally, Singapore maintains
  a very strong reputation for arbitration
  facilities.
• It has zero capital gains and dividend tax along
  with very fewer withholding taxes. This makes
  Singapore a desirable destination for company
  registration.

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5. Life quality

• As far as safety is concerned, Singapore is one
  of the best countries on a global level. It
  maintains transparency within legal systems and a
  strong police community supported by citizens.
• In terms of natural reserves Singapore maintains
  a lot of parks and botanical gardens. About 47
  of Singapore is covered under green spaces.
• The country is also known for least corruption in
  Asia and they value transparency to a great
  extent.

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6. High-skilled local talent of Singapore

• Singapore takes pride in having the worlds most
  competitive talent and workforce. They are also
  proud of their highly skilled and educated
  individuals. With 27.5 of the adult literacy
  rate the population ranks first for proficiency
  in English.
• The Singapore government also introduces
  educational initiatives like skills future so
  that people can upgrade their skill set. They can
  also learn new skills to excel at the workplace.

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7. Funding benefits

• Singapore is known as a triple A-rated economy
  and a location that offers political stability
  for business expansion.
• It has more than 128 commercial banks, over 31
  merchant banks and about 604 capital markets.
  Singapore also offers the third largest forex
  trading centre on a global level. It is known by
  the name Singapore Exchange (SGX).
• The Singapore government is famous for supporting
  the thriving startup ecosystem. They run an
  initiative called startup SG. It provides a
  starting point for entrepreneurs. This enables
  them to access the local initiatives and connect
  with the global network.
• As a consequence, about 3000 startups are
  connected with a global network of 300 investors
  in the country.

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8. Quick setup of business

• The Singapore government offers fully digitalized
  business regulation to start a business with a
  lot of convenience. This stands true even when
  the entrepreneur is not based in Singapore yet.
• In a literal sense it takes only 15 minutes to
  get your company registration in Singapore. This
  is the quickest place in south east Asia for
  company registration. Additionally, it will take
  you a day and a half to set up a business. That
  means, it is 17 times faster than the general
  business setup pace average.
• The most important thing to note here is that you
  need only S1 to register a new local company.
  This is the minimum issued capital requirement to
  register your company in Singapore.

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Conclusion

• Looking at all the points listed here, it is
  evident that Singapore is the best place to start
  and establish your business.
• The country, while having natural reserves and
  plantations, also has a very supportive
  government.
• Moreover, it goes without saying that its
  taxation structure and entrepreneurial policies
  are also supportive.

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