Singapore is a republic located on an island in the heart of the Asian continent. It is characterized by its beautiful sunny weather throughout the year, the kindness and openness of its people to foreigners. The country is renowned as a benchmark for economic success globally, without any external debt since 1995, according to reports from the World Bank.
Singapore is one of the world’s largest financial centers despite its small size. This is attributed to sound financial and economic strategies aimed at attracting and retaining foreign direct investment and creating a fertile and suitable business environment.
There are several reasons why investors and entrepreneurs consider Singapore a preferred destination for investment, and in this article, we will mention five reasons.
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Strategic location of Singapore
Singapore’s strategic location in Southeast Asia positions it as a crucial link between the Eastern and Western worlds. Its overlooking of the Malacca Strait, one of the most important waterways globally, led to the establishment of the Port of Singapore, the fifth busiest port in the world. Consequently, it became a significant global trade gateway.
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Real estate sector in Singapore
Investing in the real estate sector in Singapore is considered one of the safest and most lucrative ways to achieve financial returns, especially through property leasing. Due to the country’s political stability and continuous economic growth, properties experience significant amount appreciation, making them potentially profitable assets in the future.
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Economic diversity in Singapore
The economic sector in Singapore is characterized by its diversity, including finance, energy, biotechnology, shipping, transportation, information technology, tourism, and more. This diversity has created economic opportunities and a varied investment environment for entrepreneurs, contributing to the development of an economic system among the safest globally.
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Investment incentives in Singapore
According to the United Nations Conference on Trade and Development (UNCTAD) report on global trade and investment, Singapore ranks fifth in the world in terms of the amount of foreign direct investment (FDI) on its territory in 2017, with a total investment amount of $62 billion.
This ranking is attributed to the clarity and ease of dealing with Singapore’s legal system, which is globally recognized for its efficiency, integrity, and absence of corruption. The tax system is also one of the key investment incentives provided by the Singapore government to investors on its territory.
There is no capital gains tax on the resale of properties, and the government offers tax exemptions on foreign income earned outside its territory. Additionally, there is no tax on interest.
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High quality of life in Singapore
Singapore has been dubbed the “Switzerland of the East” because of its linguistic and cultural diversity. It has been consistently ranked as the top country in Asia for quality of life by reports from the World Health Organization. This accolade is attributed to significant progress in various sectors, including information technology, a globally competitive education system, and healthcare that is considered among the best worldwide.
In addition to these factors, Singapore’s government has been proactive in preserving the environment and natural landscapes, even with population growth and urban development. Singapore is also known for its lush greenery and beautiful natural surroundings.
At Reach Immigration, we do not offer the option of immigrating to Singapore, but we provide other citizenship or residency programs by investment, which you can learn about by booking a free consultation by clicking on the link here.
