Let’s walk according to HSBC Holdings Plc.’s Annual Expat Explorer Report. In 2016, its 9th edition rated Singapore as the best country to live, work and raise a family. In simpler words, we can say that this nation always tops the list of ‘best places for international migrants’. So, whenever people plan to migrate abroad, they do consider Singapore as the best option. But what attracts them to migrate to Singapore? Why is Singapore so famous and liked by all the migrants?
Here’s a breakdown of it. Here are a few reasons that might strengthen the decisions of migrants to shift to this country and expect a better life here –
- Career advancement
Do you know that Singapore has one of the best higher education systems all around the globe? If we talk about its workforce, then, of course, a high level of education system makes a great workforce and then a greater contributor to the economy. So, not only to work but also for further studies, this country can be considered as a priority.
It has a talented workforce and this is indeed a prime factor that asserts its position as a hub of talents which further creates great opportunities with a better prospect.
- Strong and healthy economy
Singapore is often known as the ‘Switzerland of Asia’ due to its powerful economy. It has a strategic location and offers great connectivity to other surrounding nations. And this connectivity further cemented its posture as the financial hub in South East Asia and one of the considerable financial hubs in Asia.
It’s the ideal avenue to tap into other Asia markets and this is the reason, it has attracted numerous foreign investments into the country.
- Business-friendly ecosystem
The government business pro-environment, soft tax rates, the comfort of doing business, tax advantages are among the components that contribute to attracting people to work, live and set up business in Singapore. All those who want to set up a business in Singapore will not need to worry about heavy taxes as only earnings are taxed. No capital gains, bank interests, and dividends are taxed here. Moreover, you are free from any sort of searching that you may have done for backing your previous business in some other nation. As, the presence of services with an easy and reliable approach, makes setting up and running a business much easier. For instance, there is a requirement to hire a corporate secretary within 6 months of company incorporation, but you don’t have to trouble much. Getting these services here is easy. Contact Timcole, and have a relaxed proceeding to your business setup.
Singapore doesn’t tax any overseas earnings either.
- Quality of life
Singapore is well known for having a stable political structure. It has low crime rates, a world-class education system, low corruption as well as a good climate. It is sometimes called an expat-friendly city. As the country have a lot of policies that support and welcome foreigners to live and prosper comfortably in the city.