According to a Forbes Magazine article in late 2015, the World Bank confirmed that Singapore is still the best place in the world to do business. Just about any business can be profitable there as long as that company has been set up properly and has good management.
A Stable Economy
Many of the world's most prominent companies have set up offices in Singapore. Just a few examples:
- Microsoft
- Apple
- DBS Bank
- Google
A robust Forex market, an extremely skilled labor force, and a stable financial structure mean that entrepreneurs can feel confident about conducting business in Singapore whether it involves starting a new business or expanding a current business. Business-friendly Singapore will provide you with all you need to earn a good financial return.
Business Options
Singapore provides many incentive programs that companies can leverage for growth or start-up opportunities. To take advantage of one of the company programs, the business owner will need to:
- research the market to learn which goods and services sell the best
- choose the right business model
- create a solid business plan
For example, tourism makes up a large part of Singapore's economy, so a business that caters to tourists would likely be profitable. Business focusing on providing materials or services to large corporations would also have a good probability of being successful.
Many Reasons to Choose Singapore
In addition to Singapore's well-deserved reputation as a global financial center, this island city-state is also a popular destination for tourists from all over the world.
With a continuous stream of both tourists and business people, it is easy to understand why Singapore has an abundance of restaurants and shopping and goes to explain why Singapore has long been a favorite world city for both business people and travelers.
The Singapore Tourism Board offers a great deal of information for people who are considering moving to Singapore for either business or personal reasons. Visiting first is the best way to get a feel for the cultural diversity and the many advantages Singapore has to offer.
Work Visas
To help foreigners get their businesses set up quickly, the government of Singapore established the Global Investment Programme. Also, they introduced a work visa called Entrepass which allows a business person and family to come to Singapore and live for up to two years to build the company. It is renewable as long as the company continues to operate in the country.
Other types of visas are available for those who want to visit to check out the financial opportunities.
The Singapore government's website offers comprehensive information about registering a business, paying taxes, and hiring employees. Some companies, such as insurance and banking, require special licenses. All the necessary information is explained clearly on the website.
Choosing the Best Location in Singapore
Choosing the best location for your company is critical. Many business owners who are just moving to Singapore prefer a serviced or virtual office space to avail themselves of a complete office, including staff without having to furnish the office or hire and train employees.
Work with the Proven Leader in Virtual Office Space
Servcorp Serviced Offices has business space available in the most prestigious locations in Singapore. You can have a desirable address for your company at a fraction of the cost of renting regular office space. Also, you will not have expenditures for phones, the internet, and office personnel. All that will be included in one low cost each month. Moreover, that office will impress your clients with upscale furnishings and high-quality services.
Servcorp Serviced and Virtual Offices are available for any business with whatever options you desire.
