Singapore is one of the best destinations for investors and entrepreneurs, looking to tap into new markets and diversify their portfolios. Thanks to its excellent infrastructure and one of the world’s fastest growing economies, this island nation has transformed into an amazing success story with a variety of business opportunities to take advantage of. Moreover, it is also a great place to live, as you can enjoy beautiful weather all year round, as well as take part in an exciting local culture. If you are looking for new markets to invest in, Singapore might be the right choice for you. Below you can explore some of the most important reasons why you should consider investing in this vivid and multicultural destination.
Firstly, the country is located at the heart of Southeast Asia, which ensures great global connectivity for investors. With over 20 Free Trade Agreements (FTAs) Singapore has significantly eased the movement of a variety of goods and materials. What is more, the country is ideally situated within a six hour radius of any other Southeast Asian country, meaning that you would have easy access to the region and its growing market. Throughout the years, Singapore has become the world’s gateway to Asia, which makes it a top choice for investors worldwide.
Booming Property Sector
The property sector in Singapore offers a high-return investment due to the country’s economic growth and stability. For example, if you are looking to buy an HDB flat, you may need to consider getting an HDB loan. Thanks to PropertyGuru, you can explore the best home loan packages in Singapore and compare HDB rates. You will also get customized recommendations in order to meet your goals and needs. With so many options on the market, speaking to the experts at PropertyGuru will get you one step closer to investing in the country’s booming property sector.
Global Financial Hub
As a regional and international financial hub, Singapore offers a great business environment and a highly-skilled labour force. It is considered to be one of the most competitive markets in the world, due to its leading asset management, which provides investors with access to pan-Asian and global opportunities. Moreover, the country has also been proactive in offering new capabilities, such as wealth planning and fund management. Another crucial factor to consider is Singapore’s willingness to embrace more contemporary markets. In addition, both English and Mandarin are spoken in Singapore, which has resulted in an increasing number of foreign direct investments.
Ease Of Doing Business
Setting up a business in Singapore can provide you with plenty of benefits, such as high-quality assistance. This is because considerable resources have been allocated by the country’s Economic Development Board. The aim is to support overseas businesses and entrepreneurs who want to start a new venture in Singapore and ensure success. Therefore, if you are an overseas investor, you are likely to find the experience of setting up a company hassle-free due to the efficient regulatory framework in place. Moreover, Singapore has attracted various companies looking to expand into new markets and reach new audiences.
You will also find a wide range of industries that contribute to the country’s diverse economy, such as biotechnology, logistics, tourism, information technology, and many more. This has led to the creation of a variety of economic opportunities and a high employment rate. The country has demonstrated its commitment to talent development by implementing a high-quality education system and a number of skills development initiatives. Additionally, to keep pace with global developments, Singapore has introduced new pro-business policies, which have increased investors’ confidence in the growth of the investments.
Quality Of Life
Aside from other factors directly related to the country’s economic growth and investment opportunities, the great quality of life is another important point to consider. There are many reasons why you may want to move to Singapore, including its low crime rates, diverse housing options, and world-class healthcare. Moreover, there is a series of rules that ensure the maintenance of this clean and well-ordered nation on a daily basis. For families with children looking to relocate, Singapore is also one of top choices for a well-rounded and rigorous education process. You will find adjusting to life in Singapore won’t be as difficult as you expect thanks to the locals’ openness and friendliness to foreigners.
Low Tax Rates
Last but not least, Singapore is often referred to as a tax haven due to its low taxes and numerous investment incentives. The country doesn’t impose a capital gains tax, estate duties, or inheritance taxes. Therefore, if you are planning to buy a residential property in Singapore, you will benefit from lower tax rates. Additionally, personal income tax is based on a progressive structure and tax rates range between 0% and 22%. As a result, residents with higher incomes are subjected to a higher tax rate.