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1st
in the world for doing business1
1st
in the world for Economic Opportunity2
2nd
in Asia for innovation3
From the world’s large multinational corporations to the fastest-growing startups, Singapore continues to be the partner of choice for businesses.
With the rise of Southeast Asia, companies looking to deepen their presence can also leverage Singapore as a base to build consumer insights, innovate and commercialise solutions for the region and beyond.
Singapore continues to be a gateway to the region for top MNCs and fast-growing start-ups, with their top decision-makers choosing to call Singapore home.
Source: Global Innovation Index, Innovation Trends and Report 2022 (Asian economies only)
As a global hub for innovation, Singapore has built a vibrant ecosystem featuring global R&D labs for leading Fortune 500 companies, as well as over 150 venture capital funds, incubators and accelerators. You can also find the Asia-Pacific headquarters of ‘unicorns’ such as Grab, Sea, Lazada and Razer here.
Consistently ranked as one of the world’s most innovative cities, Singapore works with companies to develop solutions to solve the world’s most pressing problems.
Source: Global Innovation Index, Innovation Trends and Report 2022, Cluster Data
With our deep engineering and innovation capabilities, Singapore is recognised as a global leader in high-value manufacturing. We are also the world’s fifth largest exporter of high-tech products.
Under the Research, Innovation and Enterprise 2020 plan, the government is investing more than S$3 billion over five years to further boost Singapore’s advanced manufacturing capabilities.
We have designed our business regulations and processes to be transparent and streamlined. Our fully digitised processes mean you can start your business quickly and conveniently, even if you are not yet in Singapore.
Download the EDB Guide to Setting Up Your Business in Singapore
15 minutes
to register a company online—quickest in Southeast Asia
Source: Accounting and Corporate Regulatory Authority (ACRA), Registering a Foreign Company. Accessed 10 February 2023
1.5 days
to set up a business—17x faster than the regional average
Source: World Bank Group, Doing Business 2020
S$315
to set up a company
Source: ACRA, Company-Related Fees. Accessed 10 February 2023
S$1
minimum issued capital needed to register a new local company
Source: ACRA, Shares and Shareholders. Accessed 10 February 2023
15 minutes
to register a company online—quickest in Southeast Asia
Source: Accounting and Corporate Regulatory Authority (ACRA), Registering a Foreign Company. Accessed 10 February 2023
S$315
to set up a company
Source: ACRA, Company-Related Fees. Accessed 10 February 2023
1.5 days
to set up a business—17x faster than the regional average
Source: World Bank Group, Doing Business 2020
S$1
minimum issued capital needed to register a new local company
Source: ACRA, Shares and Shareholders. Accessed 10 February 2023
With over 3,000 startups plugged into a global network of 500 investors and more than 200 incubators and accelerators in Singapore, our startup ecosystem is thriving.
Spaces like business parks and innovation centres in Singapore further connect you to expertise and networks, as you can be closely co-located with your most important business partners.
Within this tightly packed ecosystem, multinational corporations work closely with startups to test, commercialise and scale solutions globally.
Explore the vibrant startup ecosystem and discover new business opportunities at Startup SG Network.
Strong government support
Transparent tax regime
Compliance with global standards
Strong IP protection
The Singapore Government is committed to creating a pro-business environment through its economic and manpower policies.
We partner companies to develop high-value and substantive economic activities in Singapore.
Experiment in Singapore quickly and effectively using our sandboxes, which allow you to develop and test your innovations in a safe environment.
Explore FinTech Regulatory Sandbox
S$4 billion to support business growth and upskilling(i)
Absorption of bank loan risk (up to 70%) for new companies (<5 years)(ii)
S$200 million to support businesses in building digital capabilities(iii)
Grants to support training and building capabilities in research and innovation(iv)
Tax incentives for qualifying expansionary economic activities(v)
Sources: (i)(ii) Ministry of Finance (MOF), Singapore Budget 2023, Budget Statement; (iii) Ministry of Trade and Industry, Budget 2022 Singapore Economy 2030: Seizing Opportunities, Energising Enterprises; (iv)(v) Singapore Economic Development Board
Singapore’s tax regime aims to support substantive economic activities in Singapore for long-term, sustainable growth. We also have an extensive network of tax treaties with over 90 countries and territories.
| Corporate income tax |
|
| Other |
|
Sources: (i) Inland Revenue Authority of Singapore (IRAS), Corporate Tax Rates; (ii) IRAS, Research & Development Tax Measures; (iii) IRAS, Gains from Sale of Property, Shares and Financial Instruments; (iv) IRAS, Payments That Are Not Subject to Withholding Tax (Accessed 10 February 2023)
Singapore prides itself on being a trusted and transparent location for business and we actively work to maintain this trust in a changing global environment.
As business models evolve and economic circumstances shift, companies can be assured that Singapore will strive to provide upfront certainty where possible and uphold the necessary standards. These include incorporating the necessary directions from the OECD against Base Erosion and Profit Shifting (BEPS).
Clear transfer pricing guidelines
IRAS publishes clear and consistent guidelines that provide clarity on appropriate transfer pricing methodologies
that your company has to adopt. This covers special topics such as business models with centralised activities
in multinational enterprise groups as well.
Learn more
Dispute prevention facilities
Advance Pricing Arrangements help companies avoid transfer pricing disputes and obtain early tax
certainty for its related party transactions. These can include relevant tax treaty partners, if
necessary.
Learn more
Mutual Agreement Procedures enable IRAS and relevant foreign competent authorities to resolve disputes
regarding the application of the avoidance of double taxation agreements.
Learn more
Advance tax rulings made public
Advance tax rulings provide written interpretation of the Income Tax Act on how certain issues that arise from a proposed arrangement are to be treated for tax purposes.
Singapore’s intellectual property (IP) regime is consistently ranked among the best in the world. By promoting a progressive IP regime, the Singapore Government ensures that the right level of regulations protect your business interests while still enabling the free exchange of ideas.
For example, given leading Southeast Asian tech platform Grab's robust portfolio of patents in areas like mobility, food-delivery and geo-location technologies, it was important for the company to seek patent protection across the region where it operates. The ASEAN Patent Examination Cooperation (ASPEC), provided Grab with a coordinated and efficient approach, in a single working language, to do exactly this. The ASPEC is a regional patent work-sharing programme which allow for a faster patent grant process under specified conditions.
Learn about our Acceleration Programmes
Our enhanced IP protection framework, including mediation and enforcement programmes, has resulted in Singapore having the highest number of registered patents in Southeast Asia.
1st in Asia and 2nd worldwide for strong intellectual and physical property rights protection(i)
7th most innovative country in the world(ii)
World's fastest approval for artificial intelligence (AI) patents—within 6 months for eligible applications(iii)
Faster patent to grant pipeline in partner countries for Singapore patent-holders via joint patent acceleration initiativess(iv)
Well-connected to IP offices globally, allowing companies to file IPs in other markets efficiently(v)
Sources: (i) Property Rights Alliance, International Property Rights Index 2022; (ii) Global Innovation Index, Innovation Trends and Report 2022; (iii)(iv)(v) Intellectual Property Office of Singapore (IPOS), Acceleration Programmes
The Singapore Government is committed to creating a pro-business environment through its economic and manpower policies.
We partner companies to develop high-value and substantive economic activities in Singapore.
Experiment in Singapore quickly and effectively using our sandboxes, which allow you to develop and test your innovations in a safe environment.
Explore FinTech Regulatory Sandbox
S$4 billion to support business growth and upskilling(i)
Absorption of bank loan risk (up to 70%) for new companies (<5 years)(ii)
S$200 million to support businesses in building digital capabilities(iii)
Grants to support training and building capabilities in research and innovation(iv)
Tax incentives for qualifying expansionary economic activities(v)
Sources: (i)(ii) Ministry of Finance (MOF), Singapore Budget 2023, Budget Statement; (iii) Ministry of Trade and Industry, Budget 2022 Singapore Economy 2030: Seizing Opportunities, Energising Enterprises; (iv)(v) Singapore Economic Development Board
Singapore’s tax regime aims to support substantive economic activities in Singapore for long-term, sustainable growth. We also have an extensive network of tax treaties with over 90 countries and territories.
| Corporate income tax |
|
| Other |
|
Sources: (i) Inland Revenue Authority of Singapore (IRAS), Corporate Tax Rates; (ii) IRAS, Research & Development Tax Measures; (iii) IRAS, Gains from Sale of Property, Shares and Financial Instruments; (iv) IRAS, Payments That Are Not Subject to Withholding Tax (Accessed 10 February 2023)
Singapore prides itself on being a trusted and transparent location for business and we actively work to maintain this trust in a changing global environment.
As business models evolve and economic circumstances shift, companies can be assured that Singapore will strive to provide upfront certainty where possible and uphold the necessary standards. These include incorporating the necessary directions from the OECD against Base Erosion and Profit Shifting (BEPS).
Clear transfer pricing guidelines
IRAS publishes clear and consistent guidelines that provide clarity on appropriate transfer pricing methodologies
that your company has to adopt. This covers special topics such as business models with centralised activities
in multinational enterprise groups as well.
Learn more
Dispute prevention facilities
Advance Pricing Arrangements help companies avoid transfer pricing disputes and obtain early tax
certainty for its related party transactions. These can include relevant tax treaty partners, if
necessary.
Learn more
Mutual Agreement Procedures enable IRAS and relevant foreign competent authorities to resolve disputes
regarding the application of the avoidance of double taxation agreements.
Learn more
Advance tax rulings made public
Advance tax rulings provide written interpretation of the Income Tax Act on how certain issues that arise from a proposed arrangement are to be treated for tax purposes.
Singapore’s intellectual property (IP) regime is consistently ranked among the best in the world. By promoting a progressive IP regime, the Singapore Government ensures that the right level of regulations protect your business interests while still enabling the free exchange of ideas.
For example, given leading Southeast Asian tech platform Grab's robust portfolio of patents in areas like mobility, food-delivery and geo-location technologies, it was important for the company to seek patent protection across the region where it operates. The ASEAN Patent Examination Cooperation (ASPEC), provided Grab with a coordinated and efficient approach, in a single working language, to do exactly this. The ASPEC is a regional patent work-sharing programme which allow for a faster patent grant process under specified conditions.
Learn about our Acceleration Programmes
Our enhanced IP protection framework, including mediation and enforcement programmes, has resulted in Singapore having the highest number of registered patents in Southeast Asia.
1st in Asia and 2nd worldwide for strong intellectual and physical property rights protection(i)
7th most innovative country in the world(ii)
World's fastest approval for artificial intelligence (AI) patents—within 6 months for eligible applications(iii)
Faster patent to grant pipeline in partner countries for Singapore patent-holders via joint patent acceleration initiativess(iv)
Well-connected to IP offices globally, allowing companies to file IPs in other markets efficiently(v)
Sources: (i) Property Rights Alliance, International Property Rights Index 2022; (ii) Global Innovation Index, Innovation Trends and Report 2022; (iii)(iv)(v) Intellectual Property Office of Singapore (IPOS), Acceleration Programmes
