You might have heard, almost every giant business has its offices in Singapore. For several reasons, Singapore is one of the top choices of big companies when they plan to spread their business internationally.
Here, we will look into some of the factors that influence organizations to set up an office in Singapore. But, before starting with the main topic, let’s hear out some names that already have offices in Singapore.
List Of Global Business Offices In Singapore
Here are some of the popular global companies that have their offices or, in some cases, their regional headquarters in Singapore.
- Carl Zeiss.
- Sony Corporation.
- General Electric.
- Cisco Systems.
These names are not the only names. It is more like a never-ending list. From these names, I hope you get an idea of how global businesses prefer Singapore as a business hub.
Reasons Behind Most Global Businesses Have Offices In Singapore
It is now clear that almost every giant business organization has its offices in Singapore. Now it is time to look at the reasons why this place is so favorite for business persons. So, let’s start with them.
Mix Of East And West Cultures
The interesting colonial history of Singapore and its diverse population has already placed this country between Asian, American, and European Cultures. So, in case you are planning to apply for a work permit in Singapore, go ahead.
After its independence, this place is continuously adopting the western culture, which does not mean they forget their own Asian culture. Singapore is a perfect blend of both Western and Eastern cultures.
Attractive Tax Laws
Now, this is something where small businesses get to earn more. Singapore offers businesses the opportunity to earn money in various ways possible. In addition to that, the tax laws also affect the bottom line, with extensive exemptions and savings.
The Singapore government also has introduced “Double Taxation Avoidance Agreements” for protecting Singaporean suppliers with overseas profits. It automatically attracts foreign businessmen to set up their businesses here.
Business Friendly Economy
This island of Asia is small in size and also lacks natural resources. As a result of this, they always want to spread their business and attract international businesses beyond their water.
Singapore is home to the world’s second most competitive economy just because of the friendly framework. For promoting international trade, the Singapore government also has promoted several beneficial economic policies.
For every business person, the security of their businesses matters a lot. The stringent IP or intellectual property and other business laws ensure a safe and secure business environment even for global organizations. You can register your private limited company in Singapore without any tension.
If we consider the IP laws of Singapore, it is the best in Asia and the fourth-best in the whole world as per the Global competitiveness Report 2015/2016 of the World Economic Forum. This legal protection has invited multinational global corporations to start their venture here.
For a city to be developed as an advanced and efficient business hub, the infrastructure also has to be excellent to complement the socio-economic structure. Singapore is thriving to be the world’s first “Smart nation.”
When we are saying it is thriving, we mean it is indeed actively working on it. The technological advancement of this place is setting an example for other countries. With an improved economy, when business individuals are getting the required infrastructure, what else will they want?
Availability Of Workforce
A highly sophisticated economic and infrastructural is of no use if the workforce, which will utilize them is not efficient enough. But, in Singapore, the scenario is completely different and also in favor of business growth.
In the entire globe, the workforce of Singapore is considered the most motivated and highly educated as well. In terms of the workers’ productivity along with overall general attitude, this Asian country secured the highest ranking for the labor force.
Singapore has the economic and infrastructural benefits, the required equipped workforce, tax benefits, legal security, perfect blend of different cultures. In addition to all these, the geographical location and connectivity with the rest of the world are efficient for conducting business here. This is why most of the big businesses have their offices in Singapore.