The Singaporean government has been making many changes to boost the economy and attract more businesses. This blog post will go over few benefits of trading in Singapore that you should know about!
Benefit #1: Lowest corporate tax in the world
The Singaporean government charges a low rate of 17% for corporations to operate. This is why many companies are moving into Asia and choosing to set up shop there, rather than stay in Europe or America where taxes can be as high as 30%.
Benefit #2: Low land rates
Although land prices have been on the rise recently, they remain among some of the lowest you will find anywhere else around the world. They do not charge any sales tax either! Take advantage while it’s still affordable!
Benefit #3: Exciting new technology
Singaporeans love state-of-the-art technologies such as virtual reality (VR), robotics, artificial intelligence (AI) and augmented/virtual reality (AR/VR). Within the next few years, you can expect to see many new technologies in Singapore.
Benefit #4: Easy access to transportation
Singaporeans have invested a lot into transportation infrastructure. It is very easy to get around by metro, bus or taxi because their systems are efficient and well-laid.
In conclusion, Singapore is a great country to set up your business.