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Coface’s Business Intelligence shown Singapore with a score of A2 for Country Risk Assessment & A1 for Business Climate Assessment.  This is equivalent to rating for United States and way ahead of most countries in APAC region 

 Singapore
Thailand
United States
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Singapore’s favorable taxation policies and strategic position within Southeast Asia offers foreign investors competitive and unprecedented access to the Asian market. In addition to its political and economic stability, Singapore stands as a prominent financial center within the ASEAN region.

Singapore has shown to consistently ranked as the following:

  • The best business environment in Asia Pacific and the world for 15 consecutive years (Economist Intelligence Unit)

  • 1 for best logistics supply chain performance in Asia (LPI)

  • Best global innovation in Asia Pacific and the world (GII)

  • Top 10 in Asia for most motivated workforce and best skilled labour (IMD)

  • 1 investment destination in Asia (BERI)

  • The world’s easiest place to do business (World Bank)

  • The best in Asia for quality of life (IMD)

  • 11th out of 55 in the world in the 2023 United States Chamber of Commerce’s International Intellectual Property (IP) Index.

The benefits of Double Tax Agreements

To date, Singapore has up to 100 double tax treaties with different countries around the world - including treaties with ASEAN’s 10 member states, allowing businesses outside of Singapore not to have to pay their taxes twice. These DTAs grant exemption or reduction on some taxes, eliminates tax evasion and encourage cross-border trade efficiency. Because of these treaties, taxation has become fair to those who have companies outside of Singapore and are also eligible to any benefits from the treaties.

ASEAN’s demographic power

ASEAN is on track to emerge as a global centre of growth. With a combined population exceeding 650 million which is twice US’s population and widely projected to reach 700 million by 2030, ASEAN's demographic power stands as a formidable driver of its economy. The demographic dividend, with a youthful population, creates a favorable context for accelerated economic growth and development. The region's strength resides in its diversity of languages, cultures, economies and, most critically, its vibrant and increasingly tech-savvy young population. According to Asian Development Bank (ADB), Southeast Asia’s growth forecast for 2024 is at 4.7% for 2024.

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