An Introduction to Doing Business in Singapore 2023
Published: July 2023This publication, designed to introduce the fundamentals of investing in Singapore, was compiled by Dezan Shira & Associates, a specialist foreign direct investment practice providing corporate establishment, audit, business advisory, tax advisory and compliance, accounting, payroll, due diligence, and financial review services to multinationals and small- and medium-sized enterprises investing in emerging Asia.
Despite global uncertainties, Singapore's robust economy continues to thrive, with projected GDP growth of 0.5 to 2.5 percent in 2023 and an even brighter outlook for 2024. As a strategic financial hub and a gateway to Asia, Singapore offers unparalleled opportunities for foreign investors.
With over 80 double taxation avoidance agreements, generous tax deductions, an extensive network of free trade agreements with neighboring nations, and a reputation as a global financial center, businesses operating in Singapore can maximize their profitability and expand their reach.
Amid the risks associated with the fallout of the COVID-19 pandemic, Singapore continues to demonstrate its resilience, providing direct access to global markets. While external demand has softened, Singapore's manufacturing and wholesale trade sectors remain robust and primed for growth.
For corporate entities hoping to establish a holding company, branch office, or regional headquarters, Singapore offers a powerful advantage in terms of business opportunities, government incentives, and trade relation benefits.
This publication, designed to introduce the fundamentals of investing in Singapore, was compiled by Dezan Shira & Associates, a specialist foreign direct investment practice providing corporate establishment, audit, business advisory, tax advisory and compliance, accounting, payroll, due diligence, and financial review services to multinationals and small- and medium-sized enterprises investing in emerging Asia.