In light of the continuous political unrest since 2019 which has now led to raging protests, Hong Kong has lost its title of ‘World’s Freest Economy’.
With the situation that seems far from ending, many Hong Kong businesses have taken a great hit and turned to Singapore as a safe harbour to house their business operations.
Why are Hong Kong businesses choosing Singapore?
Renowned as the 2nd best country in the world for ease of doing business, both Singapore and Hong Kong share a few similarities such as low corporate tax rates, minimal red tape and strategic location. A bonus advantage is that it takes less than a day to incorporate a company in Singapore, making the setup process really convenient for entrepreneurs.
While billions of assets have already been shifted and with COVID-19 measures being eased, now is the best time to relocate your Hong Kong business to Singapore.
In this guide, you will be able to learn the factors that make Singapore a business haven for entrepreneurs, what business structure options are available for you and the types of verticals that are performing at its peak.
As committed advisors, we are here to ensure you relocate to Singapore seamlessly.