It has been a very hot topic about doing business in Europe and I have to agree that Europe, as a financial and business hub is downright dead. Just as dead as the Motor City of Detroit as to General Motors , Detroit Motor Company and much more. Why there are so many business moving into Singapore?
Being a financial and aviation hub for the Asian Region, Singapore sits strategically between China, Australia, East Asia and the Malay Archipelago. It is a neutral country despite it’s political administration akin to a dictatorship. However, being a Fine City, it is corruption free and very strict on the laws to the people of Singapore, Locals and Foreigners alike. Financial punitive actions are further strengthen by the threat of the Cane for Armed Robbery, Theft, Corruption, Financial deception and many more. Even food standards are so high that if a vendor is found to have a rodent on their premises, the fines are exorbitant and comes with three strokes of the Rotan for the owner and all managers of the establishment.
Financial incentive such as low corporate tax is the huge carrot to many multi-national companies to flock to Singapore on top of it’s Multi-Terrabyte data infrastructure connecting Singapore as the Point of Presence to US, Europe, Middle East and Australia. Companies like Microsoft, Amazon and Google brought their datacenters there hosting their East Asia backend of their cloud computing grid. Corporate Income Tax sits currently at 28%, the cheapest of any tax haven including Gibraltar and Cayman Islands.
It is also a boon to businesses to get foreign workers, at a reasonable cost. Indonesian, Filipino and Malaysians are flocking to fleece the golden economy, and the Singaporeans going abroad to find more business to amass for themselves to contribute to the local economy.
It makes much sense. Political Stability, Financial Strength and Humanity brings everyone there. And some ..who wants to save more.. open up in Malaysia….
Happy Voting Singapore!
