Investing in Singapore? If not, here are 3 reasons why you should

It seems that the most important businesses can be found in the heart of Asia, in Singapore. Singapore is attractive for foreign investors, there’s no doubt about that. But why is it that the Lion City is such an easy place to do business? Maybe it has something to do with the diversified economy. The complex economy is able to support all the businesses within it, so there’s no such thing as vulnerable sectors. Many consider Singapore to be an economic miracle. According to Sukhbir Singh, director of E-Sandhurst a consulting company specializing in company formation, “Singapore has always been seen as a gateway to doing business in Asia. The government has always been mindful of the needs of the business community in providing a pro-business environment. It has been described as the best place for doing business. A place with little or no hurdles for company registration, with the best infrastructure and with laws to protect intellectual property”.

And who can argue with them? The city-state encourages different perspectives and ideas that drive innovation. You can almost sense the vibe of growth. The question now is if you should be if you should invest in Singapore yourself. Of course, you should. If you’re still having doubts, then these 3 reasons will convince you.

1. Near to China
   Singapore is very close to China. The air travel distance is equal to 2,374 miles. Basically, you can get from the Lion City to China in about 5 hours and 30 minutes. But why should you care about that? From a business standpoint, the proximity to China is important. China is the economy that provides the most market opportunities for foreign investment. It shouldn’t come as a surprise that companies that wish to expand and invest internationally place China at the top of their list. If you can’t do business in Beijing or Hong Kong, you should at least be somewhere close. Besides the fact that the city-state is bordering on China, they have trade and business ties. If you’re investing in Singapore, then you can consider yourself lucky because you have the chance to tap into the lucrative customer base.
2. One of the best states for property taxes
   Just like ordinary individuals, you’re required to taxes on real estate, machinery or equipment, tools, supplies, office furniture, etc. Therefore, if you possess any assets, you have to pay property taxes. It’s as simple as that. Try as you might, you won’t find a place with no property tax. What you can find, on the other hand, are states that have low property tax rates. Singapore is such an example. Just for your information, possession is taxed at a fixed 10 percent rate. That makes very normal to want to know why this state doesn’t impose high property tax rates. The Lion City wishes to encourage ownership, which is the reason why they are so generous. While there aren’t any certainties in life, one thing’s for sure: there’s no better place in the heart of Asia to invest in commercial property than Singapore.
3. Fiscal incentives for foreign businesses
   Many experts argue that using financial incentives to attract foreign businesses isn’t a recommendable practice. Clearly, they haven’t come to Singapore. Everyone from large banks to capital market investors enjoy financial incentives. The result is that they have managed to attract a great many foreign investors. Should you even care about these financial incentives? You should because they make your life a lot easier. For instance, if you decide that you want to sell your commercial property, you don’t have to pay capital gains tax. Don’t you want to improve your total cost environment and competitiveness?