In the Economists Intelligence Unit’s recent report “hot spots” Singapore was ranked as the 3rd most competitive city globally and Asia’s highest ranked city out of 120 Global Markets, losing out only to New York and London.
Singapore spans a minuscule 275 miles and this reinforces the findings that density of population encourages competitiveness. The strong presence of such global economic powerhouses as Proctor & Gamble and Rolls Royce in the city-state, alongside new and innovative start-ups and technological research, have produced a dynamic economic environment that continues to attract corporations seeking entry into growing Asian markets.
Singapore has one of the highest per capita GDP in the world with a dynamic economy and strong service and manufacturing sectors, these sectors providing the strength and stability to Singapore’s economy. According to the World Bank Singapore’s gross domestic product is worth 223 Billion USD in other terms 0.36% of the world’s economy which is a major contribution, considering the afore-mentioned land size.
Singapore is ranked 2nd as the city with the best investment potential for the last sixteen consecutive years and is considered as a haven of stability and is also ranked in the top 3 in the world in foreign trade and investment. Furthermore a 2010 World Bank report ranked Singapore as the no.2 logistics hub in the world, ahead of Sweden, Netherlands and Asian super heavy weights China, Japan and Hong Kong.
All of the evidence coupled with strong fiscal outlook suggests that Singapore along with most of the other Asian countries will be next in line to take a stronghold on World markets in the near future.
Overall, Singapore is a modern metropolis and an Asian business centre that is a model of efficiency and a city state of endless possibilities for future investors.
Singapore is an ideal state to set up a company due to these exciting opportunities. Company formation in Singapore is relatively simple with 100% foreign shareholding permitted. Investors have the ability to set up and run a company in Singapore without having to relocate there. Most Singapore companies are usually registered as private limited liability companies (commonly known as private limited companies), meaning shareholders are not liable for debt beyond what they have invested. Foreign companies who wish to establish a corporate presence in Singapore, can choose to register ina number of ways. These include a Subsidiary Company, Branch Office or a Representative Office in Singapore. The most common approach is a Subsidiary Company.