Doing Business in Singapore: The perfect base for your Asian hub
If you are an international entrepreneur thinking of expanding in Asia, then we suggest that you consider Singapore. This cosmopolitan metropolis has successfully managed to reconcile traditional Asian characteristics with a modern Western appearance. Thus, while Singapore still highly values the welfare of the community, it is, with the aid of digital progress, winning the centuries-old battle for new chances and a better life. Furthermore, this modernization has ensured considerable improvements in working life. Here, we set out the advantages for you of doing business in Singapore.
Languages in Singapore
Along with the local dialects, Malay and Tamil, the Singaporean population also speaks Mandarin and English. Through this, the country can act as a gateway to both China and the West. Above all, all government institutions, courts and schools, as well as the business world, use English as the main language. Consequently, there is no question of a language barrier.
Business in Singapore
Love of country
It is not difficult to become enamoured with Singapore, with its beautiful nature and sophisticated facilities. If you are in the presence of Singaporean clients, never forget to mention the beauty of their country. Singaporeans are very patriotic. Therefore, criticism will not be appreciated if you are asked for your opinion about their country, which often happens at the start of a meeting. Watch out, however, that your praise doesn’t become too familiar. Similarly, digressions about family matters, religion and/or politics are not appropriate.
One of the great advantages of Singapore is the extreme importance that its people attach to order and punctuality. You will not be made to wait for a business associate. You can also assume that the meeting will proceed pleasantly, as Singaporeans will never raise their voice or show that they are in a bad humour when they do business. This friendly atmosphere is confirmed with the exchanging of business gifts. These gifts symbolize the hope for successful business contacts and an amicable relationship. The line between being colleagues and friends is thus thin. When a business meeting concludes, it is, for example, customary to eat together to strengthen the personal connection. After that, you should continue your discussion for at least an hour.
In doing business in Singapore, one also sees the productive intertwining of traditional values and modern ideas coming to the fore. Thus, the clear hierarchical structure is an unmistakable testament to Asian culture. The boss enjoys the most respect and authority. Nevertheless, in this aspect, Singapore appears to be more progressive than many “modern” Western countries. After all, there is no glass ceiling in Singapore. Through this, women have no difficulty in assuming important roles in company life.
If the productive trade climate or the versatile culture and nature have still not been able to convince you to do business in Singapore, then maybe the government can change your mind. The local government, in particular, offers various subsidies and tax provisions to native and foreign companies that are set up in Singapore.
If setting up a business in Singapore is only the beginning for your international adventurers, we advise you to consider incorporating a Dutch affiliate. The Dutch entity then operates as a gateway to Europe. Moreover, besides the economic, cultural and practical advantages of the Netherlands, this offers you undeniable fiscal opportunities. Not only does the Dutch-Singaporean tax treaty grants you the opportunity to avoid double taxation, but taxes in the Netherlands itself are also progressive as well.
Therefore, do not hesitate to contact us for more information about an international business or doing business in Singapore and/or in the Netherlands. We are only too glad to be of assistance.