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1st
in the world for doing business1
1st
in Asia for innovation2
2nd
in Asia-Pacific for sustainability efforts3
Doing business in Singapore is made easy with our transparent and efficient regulatory framework. With digitised bureaucratic processes, you can incorporate your business in just 1.5 days.
From facilitative talent policies to sandboxes to test innovations, here’s how we support business growth.
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)
Learn how to set up your business in Singapore
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 here for long-term, sustainable growth. We also have an extensive network of tax treaties with over 90 countries and territories.
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| Other |
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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)
As business models evolve and economic circumstances shift, you can be assured that Singapore will strive to provide upfront certainty, where possible, and uphold the necessary standards.
This includes incorporating the necessary directions from the OECD against Base Erosion and Profit Shifting (BEPS).
Clear transfer pricing guidelines
The Inland Revenue Authority of Singapore (IRAS) publishes clear and consistent guidelines on appropriate transfer pricing methodologies that businesses in Singapore have to adopt. The guidelines cover special topics such as business models with centralised activities in multinational enterprise groups.
Dispute prevention facilities
Advance Pricing Arrangementshelp companies avoid transfer pricing disputes and obtain early tax certainty for related party transactions. These can include relevant tax treaty partners, if necessary.
Mutual Agreement Proceduresenable IRAS and relevant foreign competent authorities to resolve disputes regarding the application of the avoidance of double taxation agreements.
Advance tax rulings made public
Advance tax rulings provide written interpretations of the Income Tax Act on how specific issues arising from a proposed arrangement should 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 regulations are in place to protect your business interests while still enabling the free exchange of ideas.
Explore IP resources to help scale your innovation
For Grab, a leading tech platform in Southeast Asia with a robust portfolio of patents in areas like mobility, food delivery and geo-location technologies, it’s important to seek patent protection across the region in which it operates.
The ASEAN Patent Examination Cooperation (ASPEC), has 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 that allows for a faster patent grant process under specified conditions.
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)
World's fastest approval for artificial intelligence (AI) patents—within 6 months for eligible applications(ii)
Faster patent to grant pipeline in partner countries for Singapore patent-holders via joint patent acceleration initiativess(iii)
Well-connected to IP offices globally, allowing companies to file IPs in other markets efficiently(iv)
Sources: (i) Property Rights Alliance, International Property Rights Index 2023; (ii)(iii)(iv) Intellectual Property Office of Singapore (IPOS), Acceleration Programmes
Singapore is a business hub for the world's globally leading companies. We are the most popular regional headquarters destination in the Asia-Pacific4, and many companies have their global and regional functions, mandates, or business units in Singapore. All major US tech companies have a substantial presence here and we are a key location for manufacturing and supply chain management in Asia.
Our proximity to fast growing markets in the Asia-Pacific and Southeast Asia, strong talent pool, connectivity, and innovative and business friendly environment, make us an attractive headquarters location. We are ranked first in the Asia-Pacific and second globally for our ability to grow, attract, and retain talent5. Our rich business ecosystem allows businesses to collaborate with top multinational companies as well as our 286,000 small and medium enterprises and 4,500 tech startups.
Sources:
4 Orbis Crossborder Investment Database
5 Insead’s 2023 Global Talent Competitiveness Index
Source: Global Innovation Index, Innovation Trends and Report 2025 (Asian economies only)
Singapore has built a vibrant ecosystem featuring global R&D and innovation labs for leading Fortune 500 companies from Dell Technologies to Salesforce, as well as over 150 venture capital firms, incubators and accelerators.
We continue to build on our innovation capabilities. The S$37 billion Research, Innovation and Enterprise 2030 (RIE2030) plan will further strengthen national research capabilities and encourage industry-relevant innovation.
With our deep engineering and innovation capabilities, Singapore is recognised as a global leader in high-value manufacturing and the world’s fifth-largest9 exporter of high-tech products.
We continue to be a key global manufacturing site for critical products in high-value sectors to serve international demand – accounting for one in ten of all chips produced worldwide, supplying 90% of the global share of microarray chips, and four of the top five pharmaceutical companies by global revenue have manufacturing facilities here. We have one of Asia’s largest and most diverse aerospace ecosystems, with over 130 aerospace companies.
We have five10 World Economic Forum “lighthouse factories” – the most in Southeast Asia – belonging to Coca-Cola, Micron, Infineon, Agilent Technologies, and HP Singapore.
Sources:
9 World Bank Group, High-technology exports (current US$)
10 World Economic Forum, Global Lighthouse Network
Singapore’s Green Plan 2030 outlines our approach to advancing the sustainability agenda. We are helping businesses operate in a more green and sustainable manner by:
Businesses can use Singapore as a springboard to capture green growth opportunities in Asia in carbon services and renewable energy.
