Despite being a tiny island with few natural resources, Singapore is a major trading nation renowned for its strategic location straddling east and west. It boasts one of the busiest ports in the world and offers a pro-business environment.
4 Strengths of Singapore
1. Standard of Living
Singapore offers truly multicultural living with exceptionally high standards of living, personal safety and security, (Mercer’s Quality of Living Survey, 2020). People expect lavish lifestyles and luxury homes. Singapore delivers.
It is known for its excellent public transport system, high-end shopping and non-stop entertainment. There’s never a dull moment in Singapore!
“Singapore’s identity is built on its multiculturalism and Singaporeans are proud to attract people from around the world. This ‘Singapore Spirit’ has a significant impact on new arrivals, who feel welcomed with open arms into their new community, helped by the fact that most Singaporeans are bilingual. It is therefore unsurprising that the country is the best destination for expats moving with children.” Expat Explorer 2020.
2. Personal Finance Potential
Singapore is recognised for the great potential it offers assignees. With highly competitive salaries, one of the world’s lowest income tax rates and the highest percentages of millionaires worldwide, it is truly a country of opportunity.
3. Economic & Legal Structure
Singapore offers political stability and sustainable economic growth, appealing to businesses and assignees alike. It’s tax structure is especially attractive with appealing tax rates and incentives, tax relief measures and no capital gains tax policy. There is also a strong enforcement of anti-corruption laws and its judicial system is recognised as one of the most efficient in Asia.
Singapore is one of Asia’s major trade hubs with one of the most successful and highly developed economies in the continent. Singapore’s economy is anchored strongly in trade, manufacturing and financial services with English as its main business language. (Rikvin.com)
4. Stability
Singapore’s economic stability makes it appealing to global organisations. It’s a thriving global financial hub and described as one of Asia’s economic “tigers”. Singapore was placed third of 40 countries for economic stability in Expat Explorer’s 2020 survey.
“Singapore is an extremely popular destination,” says Sarah Huntridge of workforce mobility specialists BTR International. “We’ve helped many people to relocate to and from Singapore and have a thorough knowledge of the requirements involved. Due to current circumstances, it can be tricky to move containers in and out of the APAC area at the moment. Accessing specialist support makes this process far easier to progress and reduces the stress involved with moving to or from the region.”
