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International Business Influence in Singapore

Singapore has become an international business mecca attracting business owners in search of a favorable business climate defined by low taxes, strict privacy laws and a stable government. Countries compete for business investment by offering the tax incentives, safe and relaxed lifestyle, stable government, and regulation-free climate that entrepreneurs appreciate. A recent CNN report predicts that Singapore will soon take over the number one spot as the best country for foreign investment.

 

 

 

Strict Privacy Policies

Privacy protection is at the core of why business executives are flocking to Singapore in record numbers, making it the fourth most popular offshore banking hub in the world. Strict penalties that discourage breaking privacy laws means Singapore is committed to protecting business interests at all costs. Other leading international business hubs are currently struggling to maintain privacy laws amidst growing pressure from government officials in favor of more liberal policies that allow for less protection.

 

 

 

 

Favorable Pro-Business Tax Policies

Exceptionally low personal and corporate tax rates remain a major reason for the influx of international business interests. There is no denying that one of the best ways to gain the attention of the global business community is to offer better tax rates than your competitors. Corporate tax rates are less than 9 percent for companies with profits of $300,000 or less, and top out at a low 17 percent for companies earning more than $300,000. Additionally, Singapore does not have a capital gains tax. The good news does not stop there, with attractive personal tax rates worthy of mention. The maximum personal income tax rate is 20 percent with a sliding personal tax rate that starts at 0 percent for the lowest wage earners.

 

Few Bureaucratic Business Restrictions and Red Tape

Rated by World Bank as the #1 country to do business in based on less red tape than all other countries, it is easy to understand why entrepreneurs are getting excited about Singapore. As compared to other countries, incorporating a business is simple and takes only one or two days. In other countries, it can takes weeks or even months to become a legal corporation and be allowed to start a business. For information about registering a business, visit www.company-registration.sg for detailed information about doing business in Singapore.

 

Summary

International businessess in Singapore enjoy an excellent lifestyle designed specifically for business executives and their families. Lifestyle factors should not be discounted as a big part of overall decision to relocate. As a progressive business hub with English spoken as the official language for doing business, it is not hard to adjust to the culture. Known worldwide as a country free from corruption and a motivated and well educated labor force, Singapore is a force to be respected. With universities ranking at the top of the list in the world, Singapore has taken its rightful place beside other world leaders as a cosmopolitan mecca worthy of attracting top business leaders interested in enjoying the many benefits offered.

 

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Why Many Choose to Start a Career in Singapore

When looking for work, many job seekers look overseas. When doing so, a candidate can expand his or her horizons while earning a decent income. One of the most popular places that people search for work is Singapore. In this country, one will enjoy plenty of distinct benefits. Here are four reasons why a job seeker should extend his or her search to Singapore.

Modern city: When looking overseas, many fear that they will land in a dilapidated and old city. In Singapore, nothing could be further from the truth since the city is cleaner and more modern than most European or North American cities. When many workers come to an executive search firm in Singapore, they realize that the city is modern and well-kept.

 

Gardens by the bay - Singapore

Gardens by the bay – Singapore

 

Watch the epic beautiful Singapore

Low taxes: Most people feel that they pay too much in taxes. Not only that, when paying taxes, citizens feel that they get little in return. Luckily, in Singapore, a worker will enjoy low tax rates which will allow him or her to spend more money on leisure activities and household goods. With staffing in Singapore not difficult, a job seeker should have no trouble finding a decent income (also see Staffing Agencies Reveal The Secret Workings of a Headhunter). Without a doubt, a worker who wants to make a solid after-tax income must come to Singapore.

 

RecruitPlus is a Singapore Executive Search & Recruitment Agency

RecruitPlus is a Singapore Executive Search & Recruitment Agency

 

Easy to start a business: When working for a few years, some people want to try something different. Unfortunately, in most of the world, governments make it difficult for an entrepreneur to build an empire. In Singapore, an entrepreneur can get his or her company started quickly and without piles of red tape. Furthermore, the area has plenty of hardworking and educated individuals who can help an entrepreneur propel his or her organization to the top.

Fun: When moving to a new city or country for work, most people still want to enjoy their life outside the office. Fortunately, a move to Singapore will not leave a worker bored after a long day. With the area home to five million residents of varying nationalities and ethnicities, one should never have a problem finding extracurricular activities.

 

Color Run in Singapore

Color Run in Singapore

 

Without a doubt, Singapore is a great place for an expat to move. When coming to the city, new residents quickly integrate and enjoy the local scene as others welcome them with open arms. Luckily, the city is more than just a business and paradise. People with varying backgrounds and interests will love this international cosmopolitan.

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