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Singapore
Asia’s Most Business-Friendly Hub
Overview
Singapore, officially the Republic of Singapore, is a sovereign island country and city-state in Southeast Asia. It consists of one main island and 64 smaller islets, located just north of the equator. Despite its small size, Singapore is a global fi ... Read more
Capital
Singapore
Currency
Singapore dollar (SGD)
Predominant Religion
Buddhism & Christianity
Population
11,027,129 (2024 estimate)
Demographics & Infrastructure
Location & Time-zone
Southeast Asia, GMT+8
Official Language
English, Mandarin, Malay, Tamil (English is the main business language)
Major Cities
Ang Mo Kio and Bedok
Internet Speed & Penetration
Very high, World’s fastest broadband; strong 5G coverage
Transport & Logistics Network
Top global shipping & air freight hub
Proximity to Airports
Excellent (Changi Airport is 20–30 mins from anywhere in the city)
Typical Salary Ranges
SGD 3,000–10,000/month (For mid-level roles)
Lifestyle & Living
Schooling & Education
Globally ranked schools with IB, British, American & local excellence; English-medium instruction is the standard
Safety & Security
A secure, closely monitored environment with low crime, strong enforcement, and ongoing reforms supporting safety.
Entertainment & Leisure
Rapidly evolving entertainment scene with concerts, cinemas, cultural festivals & major sporting events under Vision 2030.
Expat Communities
A culturally respectful society with gated expat compounds, English environments & inclusive spaces for global professionals.
Healthcare & Medical Access
Expansive medical infrastructure with top-tier hospitals, mandatory insurance, & growing appeal in specialized health services
Cost of Living & Affordability
Tax-free earnings with affordable rent, subsidized fuel, & accessible amenities across major cities & expat-friendly areas
Visa & Immigration
Employment Visa
Freelance Visa
Golden Visa
Dependent Visa
- Cost : SGD 330
- Duration : 1 to 2 years, renewable.
- Processing Time : About 10 business days.
- Requirements : Job offer with a minimum monthly salary of SGD 5,000, acceptable qualifications
Note:
- Timelines may vary slightly depending on the state of issuance or workload at the respective offices.
- Cost range typically covers medical testing, Emirates ID, and labor approvals.
- Renewal is required before visa expiration.
Business Setup
Compare key setup essentials in the Singapore with top global business hubs
Key Aspects
Singapore
Global Comparison (UAE/USA/HK etc.)
Ownership Rules
- 100% foreign ownership allowed
- Like UAE Free Zones, unlike UAE Mainland
Corporate Tax
- 17% flat rate
- UAE: 0-9%
- Qatar: 10%
- USA: 21%
Setup Cost & Timeline
- SGD 1K–2K ($740–1.5K), 1 week. Cheaper and faster than most countries
- UAE: ~USD 1,500-10,000
- US LLC: $300
- British Virgin Islands: $1.5K+
Visa Sponsorship
- Allowed via local registered entity
- Comparable to UAE and USA
Activity Restrictions
- Minimal; regulated sectors like finance and media require approval
- Globally similar — regulated or restricted sectors
Office Requirement
- Registered address mandatory; virtual offices allowed for some businesses
- Similar to UAE Free Zones; more flexible than many European Union
Ease of Doing Business
- Ranked top 2 globally (World Bank)
- Higher than USA and Hong Kong in global rankings
Labor Availability
- Skilled talent pool; foreign hiring regulated through quotas
- More controlled than UAE, less restrictive than European Union
Commercial Rent
- SGD 10,000–50,000/year (flexi-desk to full office)
- Comparable to UAE and Hing Kong and cheaper than New York City or San Francisco
Business Centres & Co-working
- Extensive options; widely used by startups and SMEs
- On par with global cities like UAE and Hong Kong
Growth Sectors
- Fintech, AI, logistics, biotech, clean tech.
- Similar growth trends globally
Warehousing Options
- Available with modern infrastructure; expensive due to land constraints
- Costlier than inland UAE/USA regions
Tax Benefits & Legal Structure
Tax Benefits
Legal Structure
Type
Singapore
Global Norms (Typical)
Corporate Tax
- 17% flat rate
- UAE: 0-9%
- Qatar: 10%
- USA: 21%
Personal Income Tax
- 0–22% (progressive)
- UAE: 0%
- USA: 37%
- India: 30%
VAT
- 9% (as of 2024)
- 7–20%
Capital Gains Tax
- 0%
- 7–20%
Withholding Tax
- 10–15% (varies by type and treaty)
- 10–30%
Customs Duties
- Low; Free Trade Agreements with many countries
- 5–20%
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