More Foreign Companies Are Expected To Setup
Companies like Goldman Sachs, which announced a few months back that they would hire 1000 Singaporean individuals are taking a keen interest in the expansion and growth. The taxes in Singapore are quite low and this has been one of the main reasons in attracting such global giants. On the other hand, Asian companies are also putting their money into Singapore because it helps them gain investment and marketing traction. A company base setup in Singapore means that the business is able to reach growing markets like Indonesia, India, and Malaysia while operating in a world-class business environment.
Local Entrepreneurship Is On A Rise
The year 2014 will also be a year for entrepreneurs, as it is expected that there will be an increasing number of angel investors, venture funds, and government initiatives to foster entrepreneurship among the young. Many incubation companies in Singapore that fund entrepreneurs for a share of ownership have also seen around 20% increase in submissions compared to the previous year. This is also expected to attract foreign investments.
A subject that has been the topic to a continuous debate will become even sensitive in the coming years. The government of Singapore is all about boosting business right now, and it is expected that the government plans to increase the total population by one to two million. This means that Singapore will ease its regulations for immigrants who want to move here. However, a very liberal policy might backfire. Therefore, the government will try keeping a balance so that only the deserving business owners get a chance to be a part of this flourishing business environment. If you are looking forward to being a business owner in Singapore, or setting up your company base here, you need to keep these trends at the forefront. This way, you will be able to make the best decisions so that you are able to do well in the long run! Be sure to contact us if you are looking for professional help with your business registration procedures and other important issues like tax planning here in Singapore!