Why Singapore Attracts Foreign Entrepreneurs and Firms

720 Words Feb 18th, 2018 3 Pages
Singapore’s quality lifestyle fascinates the world. Its unbelievable evolution as world’s leading business and finance hub persuaded Jim Rogers, an American-born businessman and Wall Street giant, to move to Singapore in 2007. This country is now best known for living peacefully with cultural diversity, offering a safe living environment to its residents, tax facilities, a world class business community and a very stable lifestyle.

There is no question about the fact that the country is growing as an ideal place for setting up new business empires. If the aspiring business community is thinking of migrating here, the major driving forces would be –

1. Ease of doing business. The country has been very affable in terms of offering favorable business regulation policies. World Bank now ranks this place number one for this privilege. 2. Forbes Magazine ranks this place as the third wealthiest nation of the world. 3. As per Ernst and Young’s 2011 Globalization Index, Singapore has acquired the third position in the top 60 world’s largest globalized economy. 4. One of the most favorable country in terms of political stability. 5. Singapore has world’s most efficient human resource. 6. This country is best known for its quality of lifestyle. 7. In Singapore, nobody has to pay tax on capital gains or dividends. 8. Personal tax also ranges from 0 percent to 20 percent (for income…