Singapore is notorious for the easy business establishment process it has. And for many Indians that flee to Singapore to build a brighter future, faster, the ease is impressive indeed. Back in 2014, opening a tech business was possible in just under 30 minutes. The Singaporean Government is also willing to help foreigners set up their businesses. In fact, the Government is so willing to do it they even help to set up your website and so forth. But let’s find out why are Indians so attracted by the destination.
Easy registration process
As we mentioned in the beginning, the whole company registration process in Singapore is incredibly easy. In as much as 30 minutes, you can have your company registered and then, you can start doing business. If you still don’t want to handle the process yourself, there are specialised companies offering help to foreigners. They help them choose the right company type and do the paperwork for them too. Virtually, you don’t have to put any kind of efforts in opening an enterprise here. Besides, many Indians have found Singapore to be the perfect gateway to globalization. With connections to many other countries in S-E Asia, but not only, Singapore opens new investment opportunities for local enterprises every day.
Having spotless audit records helps
While the Singaporean Government works in businesses’ advantage, they are more severe when it comes to auditing. So, for sustained success in the local market, having a spotless record helps a lot.
Easy to get visas
Indians have never encountered any issues in getting their Singapore visa for Indians. In fact, there are professionals that can help in the process, whether you want to get the necessary paperwork for travel or relocation purposes. Look into similar services for a smoother and straightforward process.
According to Indian entrepreneurs that choose to relocate in Singapore, the taxes can go as low as half of the taxes applied by the Indian Government. This helps entrepreneurs and employees retain more of their earnings. In return, this motivates all the parties to get more productive and generate even more. Because of this reason, many Indian start-ups have entered the Singaporean market over the past couple of years.
The government is offering free mentorship programs to foreigners
Governments all over S-E Asia offer mentorship programs to foreign entrepreneurs. This attempt to attract more foreign investors has worked until now because it offers foreign investors access to the hands-on experience and expertise of professionals in different industries. And so, 1 in 7 start-ups in Singapore are Indian-held. With a growing number of events in India, the Monetary Authority of Singapore actively seeks to bring the start-up numbers even higher.
Regardless of your nationality, Singapore is one of the few countries in the world with such a friendly investment environment. And this has helped the nation thrive both economically and culturally. So, evaluate the market and see what opportunities are there for you!
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