The Many Advantages of a Singapore Relocation
by Manish Gosh Tuesday, November 09, 2010
The second place country was Hong Kong, followed by the United States. According to the IMD, Singapore has showed a great deal of resilience throughout the difficult economic conditions that are world-wide. Singapore has been hard hit as any other country, yet that have managed to pull out of it with expansion into Asia. During the first quarter of the year 2010, the economy in Singapore was up over thirteen percent.
These statistics are built from 320 different things that the IMD takes into consideration. Many things like business performance and infrastructure are looked at. They also look at items like business efficiency and government corruption.
The IMD is considered by many to be the foremost authority on matters of business competition. Their statistics show much more than competition. They also demonstrate government and business efficiency and overall living conditions.
With Singapore topping the world competitiveness list, it becomes one of the prime candidates for relocation. This relocation is not just for business, but also for quality of life.
Singapore is well known to have immigration laws that are not restrictive. It is not difficult to get a work visa and to incorporate a business in the country. The ability to attract professionals from all forms of business, greatly improves living conditions for everyone.
Quality of Life
Singapore consistently scores high in most quality of life surveys and data. This includes the 2Mercer Human Resource Consulting data. This is due to several reasons. A high standard of living is one very important reason to consider. This is coupled with a very low crime rate and an excellent education system. It is a good place to do business and to raise a family.
Singapore also features a very good health care system and excellent recreation and entertainment facilities.
Personal Income Taxes
Singapore has some of the lowest personal income tax rates in the world. The rates are from zero to twenty one percent. Non residents are taxed differently from residents. The tax may be a flat rate of fifteen percent or the graduated rate. People may avoid double taxation by taking advantage of tax treaties and certain exemptions.
When your relocation to Singapore is complete, you may deduct expenses for the relocation. They include the following:
1. Shipping charges for moving personal possessions
2. Temporary lodging costs
3. Moving in expenses like new bedding and appliances
4. Cost of airline tickets for you, your family, and any pets.
Economy and standard of living are two very important reasons to consider Singapore relocation. Singapore is the number one country in world competitiveness, according to the IMD yearbook. Singapore also consistently scores very high in most standard of living polls and surveys. Their immigration laws are not strict and personal taxes are among the lowest in the world.
SingaporeSetup.com is a Singapore focused business information portal. Singaporesetup help educate local and international entrepreneurs and companies who are interested in setting up a company in Singapore. Learn more about Singapore company registration.
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