Singapore: Asia's Business Epicenter

Singapore has a unique position in the global economy and a pivotal role as a business epicenter in the heart of Asia. The city-state has been consistently acknowledged as a global business hub – one that features developed infrastructure, political stability, open business policies, a skilled workforce, the use of English as the main working language and respect for intellectual property rights.

Easy Start
Compared to many countries that are considered as business hubs, it is easier and quicker to register a company in Singapore as the process takes only one day to complete given all the proper requirements are completed and the application is duly submitted. Owning a company in Singapore can be set up by anyone including foreigners. An easy and fast procedure availability of an online system has been made by the incorporation where you can submit your application forms via the internet online.

The Economic Development Board (EDB) offers regional headquarters (RHQ) and international headquarters (IHQ) incentives. Companies that are conferred the RHQ status enjoy a concessionary tax rate of 15% for qualifying income arising from headquarters activities and operations carried out from Singapore. Those awarded IHQ status enjoy even further attractive tax rates of between zero and 10%. Regional headquarters which use Singapore as an international intellectual property (IP) holding location may claim writing-down allowance (WDA) for the cost of acquisition of the IP.

Strategic Position
Singapore preserves good international connections with other countries when it comes to trade and industry. Since the signing of the first FTA under the ASEAN Free Trade Area (AFTA) in 1993, Singapore’s network of FTAs now includes 21 bilateral and regional FTAs in force and 41 Investment Guarantee Agreements. Ongoing FTA negotiations with other countries are being facilitated. These agreements facilitate business and trading across borders and make it less costly for Singapore firms to expand their operations internationally.