Due to the fact that the Singapore government regularly conducts economic reforms, develops infrastructure and improves the education system, Singapore is characterized by a low level of corruption, a lack of bureaucracy and a stable political situation.
Here are some other features of doing business in Singapore:
Low income tax - only 17%, as well as the quasi-territorial taxation principle, that is, tax is levied only on the profit that is received from sources in Singapore or transferred to a Singapore account. Therefore, most often businessmen prefer to register a company in Singapore, and open a bank account for it in another state. There is no dividend tax, since Singapore has a single-level taxation system, that is, tax is levied once at the company level. This distinguishes Singapore from many other countries where both company income and shareholder dividends are taxable. Also in this jurisdiction there is no capital gains tax. The government is constantly developing various tax incentives and incentives for various sectors of the economy that reduce the tax rate. For example, benefits are provided for small and medium-sized businesses: the full release of the first 100 thousand Singapore dollars of the company's annual income (provided that its age is less than three years) and the 50% release of the next 200 thousand Singapore dollars of income. You can read about other tax benefits and incentives here.
Stability of the local currency (Singapore dollar is not pegged to the dollar or the euro).
A great opportunity to subsequently enter other Asian markets.
Lack of currency control.
Reliable banking system.
More information here - https://en.wikipedia.org/wiki/Singapore
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