Singapore is economically and politically very stable and there are many aspects that make this city one of the most appealing to invest in. From a legal perspective, value is placed on transparency which makes it easier for investors to understand the finances of a business and feel confident in investments. Singapore is a major financial centre for a good reason and aside from the business side of things, this is a beautiful city to live and work in.
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“Singapore is known worldwide for being a great place for expatriates, investors and entrepreneurs looking to expand into Asia. Its development into a financial hub conducive for trade, excellent infrastructure, and a stable, progressive legal and regulatory framework are just some of the reasons that make it appealing”, HSBC writes. But what exactly makes Singapore so appealing?
6 Facts about Singapore for new investors:
Just north of Singapore is Malaysia, which is linked to the island by two causeway bridges. Singapore is in a great geographical position and can be reached by more than 69 airlines. The island itself is relatively small and only about the size of the city of Chicago.
Singapore’s financial system is also very similar to that of the UK and the US, which makes it easier for foreign firms from the UK to do business here. Many international banks are located here, and the local currency is strong. The tax system is also very attractive to many investors and businesses.
Singapore’s culture is in many ways very open and cosmopolitan. Most people in Singapore are Chinese, but there is also a large population of people from other countries. Applying for a Singapore visa is sometimes complicated for new investors and passes through long procedures. Seeking a legal expert in Singaporean immigration laws is vital.
Singapore has great infrastructure, which makes travel easy. This is one of the reasons so many foreigners are drawn here for work and travel.
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Forward economic policies
Economic policies in Singapore are very supportive of investments and businesses, which makes this a great place to do business in. Many international companies have their headquarters in Singapore.
Use of English
English is the main working language which makes international business very easy. Singapore has worked hard to make the city appealing for companies and investors. This is a city with many resources and a great place to both work and live.