Previously it used to be Hong Kong, now Chinese high net worth individuals are investing in Singapore. They claim Singapore to be at a ‘safe distance’ from the scrutiny of Chinese Authorities. And that is mainly because of a strong economy. There is no question Singapore has come out to be the top destination for such investments.
The emergence of Singapore as a great attraction for foreign investors is not surprising since it is known for having a stable economy.
Chinese investors have lost interest in Hong Kong due to newly introduced transparency laws, allowing other nations to get access to certain information of bank account holders in Hong Kong. In this article, we will discuss why it is important for businesses to take note of this major shift that has taken place and how they can benefit from expanding their business into this territory.
The location of Singapore makes it the hub of all the financial and trade companies from different parts of Asia. With so much money pouring in from Chinese investors, Singapore provides great potential in trade and financial services. Expanding your business to Singapore can help you become a part of this investment process.
The tax regime applicable in Singapore will make your business take advantage of different incentives in the form of greater revenue. Both, the personal and the corporate taxes are seen to be comparatively lower. There is a list of areas of business that is given attention by the Government specifically, and if your business lies in any of the mentioned areas, you can enjoy extra credit for implementing innovation and growth practices.
Because of the attention gained by all over the world, more and more skilled workers are now shifting to Singapore which will help your business attain a diversified and qualified workforce. Moreover, because of the corruption rates being significantly low in the area, you will have no problems faced otherwise regarding operating your business.
When trying to find roots in Singapore, you will not face a lot of problems since the process is considered to be relatively easy and straightforward. At the same time, because of the strong financial and investment roots, Singapore is a great place for you to make investments in other sectors as well. With so much capital being induced from the Chinese market, Singapore poses to be an ideal destination to expand your business and leverage on the capital influx from Chinese investors.
Because of the increasing interest of Chinese high net worth individuals, businesses will be able to deliver your offerings to such people. Wealth management is one area that can grow tenfold in such an economy when coupled with innovation and the latest technology. Financial service providers have an excellent opportunity to make their mark in an economy where they will be getting access to a wealthy interested market through which they can grow their business significantly.
As a known and trusted secure country especially after the recent US – North Korea Summit been held in Singapore and numerous other advantages for businesses to make use of. Singapore has become an attractive spot for all business owners looking to bring a drastic change in how they operate. You should thus expect that in the coming years, Singapore will witness a dramatic increase in popularity.
