Why move to Singapore?

April 2025
Blog

In the new extremely globalized world context, where the possibility of relocate and opening up to foreign markets has become for many not only an opportunity, but a necessity, knowing the numerous foreign realities not only from the point of view of the social reality and the services it offers, but also from that of business opportunities and possible tax breaks, has become absolutely essential in order to identify the country most suited to one's personal, family and work needs.

In recent decades, the “decentralization” of the strategic points of the world from a Eurocentric world to a more varied one, where we see a large number of emerging countries that have been able to invest their resources in a rational and far-sighted way to become real points of reference both from the point of view of the quality of services and business opportunities, has led to the birth and development of new countries that, from secondary and subordinate positions, have been able to come to the fore and totally change their future prospects.

Among them, a very interesting example was offered by the so-called "asian tigers”, among which Singapore undoubtedly stands out.

Singapore: The Story of Asia's Leading Tiger

Singapore is in all respects a “City State” composed of a large metropolis and about fifty neighboring islands, located in Southeast Asia. Due to its strategic position, capable of acting as a crossroads of trade lines that led from Europe to the East of the world, the territory of Singapore has long been disputed by European colonization, first Portuguese, then Dutch and finally English. The attractiveness of the place especially from a commercial point of view favored the progressive creation of a city center around the commercial port that towards the end of 1800 reached almost 100.000 people.

It then passed under Japanese rule during the Second World War, returned to British rule as an autonomous colony in 1959, was then annexed by Malaysia and finally regained independence in 1965.

Since then, the City State has experienced a slow but inexorable growth both urbanistically and economically, thanks to the strong support of the central government and the numerous incentives offered to companies and investors willing to bring wealth and work to the country.

Careful management of resources and investments has made Singapore a true commercial hub, a strategic hub of fundamental importance for trade. Today, the country lives essentially on exports, particularly in the manufacturing sector, but the services sector, especially financial, is equally developed.

The great freedom granted to foreign businesses and investors makes Singapore one of the freest economies in the world today, also supported by a quality of essential services that is substantially unmatched in the world. The small territorial dimensions - despite the highest population density in the world, second only to the Principality of Monaco - combined with a system of extremely strict rules, the respect of which is guaranteed by a Government with a strongly authoritarian attitude, make Singapore today also one of the safest cities in the world, with the lowest crime rate.

L'high index of economic freedom, low crime rate, the excellent quality of services (from public transport, to healthcare, to schools – and an extremely efficient bureaucracy put Singapore at the top of the main world indexes, and currently ranked third overall in the GV INDEX.

Singapore: An Opportunity to Consider

Low taxation, incentives for start-ups and exemptions on dividends and capital gains make Singapore one of the most attractive destinations for investors and entrepreneurs.

Excellent services, high-quality schools and healthcare, and unparalleled security. However, the cost of living is high.

Efficient administrative system but strict regulations: even minor infringements can lead to heavy fines.

Why choose Singapore?

1) the Business

For these reasons, Singapore is an ideal destination for business, thanks to the numerous incentives for companies, a very favorable taxation – among the best in relation to GDP – and to a one of the most open and flourishing markets in the world.

In fact, Singapore has a territorial tax system, which taxes only the income produced within the country; and it does so with very affordable rates compared to other equally rich countries: Personal income is taxed at a progressive rate that does not exceed 22%, while corporations are taxed at a rate of 17%.. Dividends and capital gains are exempt from tax, as are inheritances. VAT is 7%.

Furthermore, the Start-ups are strongly encouraged, being able to enjoy a total exemption from the tax, in the first three years of activity, for the first 100 thousand dollars and 50% on the following 200 thousand. There are then incentives for newly established industries that can guarantee up to total tax exemption even for the first 15 years of activity, as well as guarantees of tax exemption for 100% of investments in business activities of any kind.

All conditions that make Singapore perhaps the most attractive hub in the world for investments and business opportunities.

2) The families

Singapore is also an ideal destination for relocating your family., wherever you come from.

First of all, to Singapore one of the official languages is English, spoken or at least understood by the vast majority of the population. Furthermore, families can count on an efficient, safe and extremely developed system in practically all sectors: public services are among the most advanced in the world, the school system is of the highest quality, the health system extremely efficient.

The laws are extremely strict, but this also means an orderly and rapid judicial system and consequently a very low crime rate.

On the other hand, it should not be overlooked that However, Singapore has a very high cost of living. and therefore may not be within everyone's reach; the offers of permanent residence through investment themselves have very high requirements and often require investments exceeding tens of millions of dollars. Furthermore, the extreme rigidity of the system can cause problems with the authorities, which provides for heavy fines or even arrest for infractions considered minor elsewhere and which still today provides for both corporal punishment and the death penalty.

Singapore is in fact formally considered a democracy, but is in fact subject to an authoritarian regime that feeds on its government thanks to a political system that is anything but transparent and pluralistic.

Conclusions

Singapore's Financial and Trade Hub It is therefore one of the most interesting realities in the world today in terms of business opportunities and at the same time an excellent destination for a relocation or a plan B. Of course, it is not exactly a country within everyone's reach, especially for the cost of life which is particularly high, and can in fact present some critical issues due to the rigidity of the judicial, administrative and penal system.

For these reasons, a possible corporate and personal planning which provides for a relocating both your business and your family to Singapore It must be carefully evaluated, taking into account numerous apparently irrelevant details.

Thanks to the stable collaboration with the country and the presence on site through our desk office, the Studio GV can provide you with comprehensive consultancy as well as a competent follow-up phase to achieve your relocation to Singapore.

If you are interested, please contact us via form.

Why move to Singapore?