Reasons To Relocate Your Business To Singapore

how to setup and market business in singapore

In today’s world, business is more fast-paced than ever.And not only that – but it’s constantly changing. You know what we’re talking about, no matter what your profession is. To put it simply – staying ahead of the competition has never been more difficult. More and more, business owners are thinking about setting up shop somewhere else. New and emerging markets are all the rage. And if you’re thinking about doing the same – we’ve got a great option for you! You’d be surprised how many reasons there are to relocate your business to Singapore.

Singapore is dedicated to enabling businesses

In the past decade, Southeast Asia has come into the business spotlight. And that’s not for no reason either, or random chance. A few countries in the region have evaluated their options for growth and made some good decisions. Just think about it: we’re talking about a region that was once known as very poor.

But places like Singapore have worked very hard to change that. Wisely, Singapore has realized its biggest chance for growth is attracting foreign investment and supporting entrepreneurs. With that in mind, the country has focused on being one of the best business environments on Earth. For everything from providing painting services to an Internet startup – Singapore is there for you.

You won’t have issues with funding if you relocate your business to Singapore

And this focus has paid off. Today, if you’re thinking about whether to relocate your business to Singapore: know that you won’t have problems with funding. In the past decade, venture capitalists have flooded the city. Singapore has realized that attracting investment groups is crucial to local development. And that’s why there have been a lot of incentives for venture funds who want to invest in emerging businesses there.

This is a recent development that’s still going on. More and more VCs are setting up offices in Singapore. And if you’re looking for angel investors there, you won’t have trouble finding them. Plus, the local government has programs with grants and loans for small business owners! You’ll probably have investment weeks within moving your business there. It’s a really exciting period to be there.

Singapore offers more than affordable labor

If you’re not very familiar with Singapore, it’s easy to just bundle it together with other states in the region. But you should know that this city-state offers much more than other Southeast Asian countries. Just think about it – what do most places in the region offer? It’s an easy question: they offer cutting down on costs with cheap workforce options. But that’s a double-edged sword. On the other hand, these places are often behind in technology and digital marketing trends, compared to the western world.

The city-state is at the forefront of technology

For the past twenty years, this city-state has been hard at work catching up to the rest of the world in terms of technologies. These days, you’ll find state of the art firms in every modern industry. From e-commerce to SEO services for moving companies– everything you can find in Europe and North America, you’ll also find here.

And these companies don’t work with amateurs. More and more veterans of digital industries are moving here, with great salaries and job offers. So, if you relocate your business to Singapore – you’ll find a workforce as qualified as anywhere in the developed world.

/caption: You’ll find plenty of industry veterans in any field, once you relocate your business to Singapore! /alt: Two professionals working on their laptops, as a reason to relocate your business to Singapore.

The local legal framework is extremely business-friendly

When we mentioned the government’s dedication to business development, those weren’t just empty words. Because there’s only one way any government can truly help foster business – legislation. Everyone who’s in business knows how harmful a bad legal environment can be for a company – and vice versa. That’s why Singapore guarantees:

  • Great immigration policies– If you’re thinking about whether to relocate your business to Singapore, or anywhere else – immigration procedures are a major hassle. But in Singapore, they’re actually much less of a chore. If you’re a professional in any industry, you will not only get a work visa very easily – the status of permanent residence is just around the corner.
  • IP laws– When you’re doing business in emerging markets, intellectual property can be an issue. But luckily for you, Singapore has one of the best IP legal frameworks in all of Asia! You’ll be amazed how dedicated the legal system is to protecting intellectual property. It’s one of the insurance policies needed for the development of new technologies.
  • Agreeable taxes– Naturally, the costs of doing business are important to any company– and taxes can be a major cost. That’s why you’ll be pleased to know that the tax system in Singapore is very affordable. If you’re doing business there, you’ll be facing low corporate tax, but also low personal taxes.

/caption: Immigration isn’t a difficulty in Singapore! /alt: A US passport with a plane ticket in the background.

Local quality of life

Having a good environment for doing business is important, of course – but there are also personal factors to account for. Think about it – you wouldn’t relocate your business to Singapore if life wasn’t comfortable there, right? At the end of the day, all of us have lives after work. So, what’s the quality of life in Singapore?

In a nutshell? Great! While downtown rent prices aren’t exactly cheap, you’ll have plenty of interesting things to do. And affordable vacation spots are a short plane trip away. You’ll find some of the most beautiful skylines in the world in this region!

Author Bio

Tom Koh

Tom Koh is the CEO of MediaOne, a leading Asia digital agency. He comes packed with 2 decades of international digital marketing experience. In his spare time of maybe 20 minutes a day, he loves coaching, blogging about all things digital and trying to figure out how to make his dog do the roll.
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November 02, 2018

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