Singapore offers foreign investors competitive access to the Asian market due to its favorable taxation policies and strategic location within Southeast Asia. Several free trade agreements with neighboring Asian nations are available to Singaporean businesses, in addition to over 80 double taxation avoidance agreements.

Besides being a stable political and economic hub, Singapore is also an important financial center in ASEAN. International business and trade standards are mirrored by Singapore, such as those offered by the World Trade Organization and the Organization for Economic Cooperation and Development.

Although COVID-19-related risks continue to affect Singapore, it has emerged resilient as a direct gateway to the global market. The manufacturing and wholesale trade sectors are still strong, while the information and communications and finance industries are also healthy, driven by the increasing demand for digital solutions and payment processing services.

Business opportunities, government incentives, and trade relations benefits make Singapore an excellent choice for companies looking to establish a holding company, branch office, or regional headquarters.

We spoke with Eugene Lim, Co-Founder, Principal of WTS Taxise, and took a deeper look at the advantages and challenges of doing business in Singapore.

To find out more about WTS Taxise, please visit https://taxiseasia.com/