Singapore is a busy and vibrant sovereign island city-state in Southeast Asia. Its clean air, low crime rate, and outstanding education system make it one of the most desirable places for expatriates.
If you are a young tech entrepreneur, though, the reasons to move to Singapore are tenfold. Its location, government funding, and robust economy make it the perfect place to start your business or expand it.
Check out our list to see why businesses are looking to Singapore for expanding their ventures. The reasons below may even convince you to relocate your company and immigrate to Singapore with an application for PR.
It Is a Prime Location for Business
Singapore is in a prime location that remains extremely well-connected in the business world. It is at the heart of the East-West crossroad in Southeast Asia and is a particularly efficient location to access Asian economies and the region's rapidly expanding markets.
Not only that, its strong transport links make it one of the world's top transportation hubs. Changi International Airport has links to 300 cities in 700 countries, with more than 6,500 weekly flights. The prime location, cultural overlaps, and linguistic connections make it the perfect place for the global business community.
There Is High Investment in Tech
In 2019, the Singapore government pledged to invest $19 billion into scientific and technological research as part of its Research and Innovation 2020 plan. In June of the same year, it announced that the government had set aside $29.3 million to support 5G research and innovation.
It is already the regional base for many of the world's top technology companies such as Microsoft (News - Alert), Amazon Web Services, and Google. Singapore is also well-known for being incredibly open to global talent. Whether you are looking to slot into a company already there or create an international technology startup, Singapore is the place to be.
It Has Robust Business Infrastructure
Singapore's business landscape helps businesses thrive and build a robust economy. Its headline corporate tax rate is a flat 17%, which is very enticing for investors. Plus, multiple tax exemptions can lower the percentage of tax you have to pay as a business.
Singapore's triple-A-rated economy makes it a stable place for business investment and expansion. The government itself also actively supports newer businesses. One of its initiatives, Startup SG, is a launchpad for entrepreneurs. It provides a platform to engage with local support systems and connect to Singapore's global network.
It's a Greener Place To Live
Odds are, Singapore is a more environmentally-friendly place to live than wherever you are operating right now. Singapore's government has poured money into integrating the city into nature without having a negative impact.
The investment in green means that different technology is under development to imagine a sustainable future. Companies such as Hewlett Packard have partnered with the Ministry of Environment and Water Resources to create energy-efficient systems.
Singapore's government doesn't plan on stopping there. PUB, Singapore's National Water Agency, is planning to increase water sustainability. It is pumping money into energy efficiency through solar panels, and the city's ambition is to have 80% of its buildings achieve Green Mark Certification by 2030.
Singapore views green technology as integral to its future, so it's full of opportunities to ride the wave and make your business a part of its plans.
Have You Decided Yet?
It's easy to see why Singapore is such an attractive place for some, particularly for the tech community. From the location to the business opportunities to the environment, Singapore has it all.
