Your business is booming, and you know it’s time to consider entering new markets. But where? You need a location that attracts people. The right people.
You’re looking to be around networkers and dealmakers with an eye for more than beautiful views. These are the moneymakers who gravitate towards locales with forgiving tax rates, fair real estate prices, and hubs of industry. Wherever these people are, there’s a lucrative business to be done.
That place is… Singapore.
Unique History and Culture
Before we discuss all the reasons why your business should consider operations in Singapore, let’s take a closer look at the Merlion Nation’s history and culture. But be warned! By the time you’re finished reading this article, you may find yourself looking up your Singapore PR application eligibility.
The country is located on a small island between the South China Sea and the Indian Ocean. Declaring its independence from the British colonial empire in 1959, Singapore is now one of the few city-states still in existence. With a parliamentary government with regularly held elections, Singapore reaps the benefits of many campaigns started by its controversial first Prime Minister: Lee Kuan Yew.
One of these sets of policies, known as the “Clean Campaign,” has resulted in a culture of cleanliness. Today, the streets of Singapore are cleaned and mopped in the early hours of every morning. For this reason, Singapore is considered by many to be one of the cleanest cities in the world.
Beautiful by Nature and Design
Its tropical climate and unique, floral-inspired urban planning have earned it the title of “The Garden City.” Its botanic garden is one of the most aspirational and artistic in design.
Singapore’s architecture tends to sport sleek, modern, and brightly lit structures that make for one of the most recognizable skylines in the world. Its natural island geography also contributes to its appeal. Singapore boasts many beaches and boardwalk experiences.
One of the most popular attractions is the “night zoo” offered by the Mandai Wildlife Group, which provides the rare experience of being able to observe rescued wildlife in their nocturnal habitats.
A Prime Location
Singapore has more to offer than its stunning aesthetics. Singapore’s location serves as one of its most reliable sources of strength for businesses that operate within it.
Due to its critical marine location, the Port of Singapore is one of the world’s largest and busiest transshipment hubs. After Covid’s initial market upset, Singapore’s GDP growth rate demonstrated the ability to spring back quickly. This economic resilience owes much of its thanks to its crucial location along shipping routes.
The nation’s investment in its maritime infrastructure has undoubtedly paid off, but its ease of travel also makes it a key area for meeting with many actors within the Asian markets. Many of the sector’s top business events and conventions take place in Singapore because of its location and renowned hospitality industry.
The Booming Economy and Tax Rate
The country boasts a flourishing economy with high-income equality and a low unemployment rate. There are many reasons for this, but one of the most significant factors is Singapore’s attractive tax rates. Progressive and forgiving, Singapore’s current corporate tax rate is 17%. For comparison, the United States’ corporate tax rate ranged between 21%-32% in the last five years.
Singapore also has the proud reputation of having one of the most celebrated and fastest-growing restaurant industries. Reportedly, an average of two restaurants open a day on this cuisine crazy island.
Due to these thriving financial circumstances, Singapore has attracted an immigrant population with worldwide roots. With a population of 5.45 million residents, almost 2 million are immigrants seeking out the Singaporean dream.
Skilled Labor Pools
Creating a cosmopolitan, international staff can invigorate your corporate success as you take your mission to a global level. Whether your sector is tech, finance, hospitality, or any other number of areas of industry- you will find you have a strong pool of talent to choose from.
If you are considering opening a foreign office for your company, Singapore’s labor force is one of the most skilled in the world. This ensures staffing your new branch will be a rewarding experience for your company.
An Attractive Opportunity
You’ve already decided to expand your operations, so why not consider Singapore? The Garden City may just be the best place for your business to bloom next!
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