Southeast Asia · current conditions as of 24 September 2026 · fundamentals reviewed 16 October 2026
🇸🇬 Doing business in Singapore
Worlds top business hub and gateway to ASEAN markets.
Long-term risk: Low
What makes up the long-term score
Highlights: #1 ease of doing business · Low 17% corporate tax · ASEAN headquarters hub
Key industries
Financial Services & Wealth Management ↑ Strong growth
Singapore manages $4T+ in assets. MAS has created one of the worlds most respected financial regulatory environments.
Main investors: UK, US, Switzerland, Hong Kong
Technology & Innovation ↑ Strong growth
Singapore hosts APAC HQs of Google, Facebook, LinkedIn and 4,000+ tech firms. Smart Nation initiative drives digital adoption.
Main investors: US, China, India, UK
Logistics & Supply Chain ↑ Growing
Singapore port is worlds 2nd busiest. Changi Airport handles 65M+ passengers. Logistics contributes 8% of GDP.
Main investors: Germany, Japan, Netherlands, China
Biomedical & Life Sciences ↑ Strong growth
Biopolis research cluster hosts GSK, Pfizer, Novartis and AstraZeneca regional operations. Strong IP protection framework.
Main investors: US, Switzerland, UK, Germany
Sector priorities
- Financial Services & Fintech: MAS licensing framework, zero capital gains tax and deep talent pool make Singapore the top APAC financial services hub.
- Technology & AI: EDB incentives, Smart Nation initiative and hyperscaler infrastructure investment creating strong tech sector growth.
- Sustainability & Green Finance: Singapore Green Plan 2030 and MAS sustainable finance agenda creating significant ESG and green finance opportunities.
Talent & work permits
Singapore has Asia Pacifics most international talent pool. English is the business language. Government actively manages talent through EP and S Pass frameworks.
- Foreign workers: Employment Pass for professionals earning SGD 5,600+. S Pass for mid-skilled workers. Quota applies to S Pass holders.
- Localisation: Fair Consideration Framework requires firms to advertise roles on MyCareersFuture for 14 days before hiring Employment Pass holders.
- Key consideration: Singapore is using salary thresholds and COMPASS framework to ensure quality of EP applicants while managing local workforce priorities.
Summarised from our dataset and not yet linked to sources. Verify with local counsel before acting.
How to enter: first four steps
Singapore is the easiest Asian market to enter. ACRA incorporation takes hours. The main decision is choosing the right entity structure.
- Incorporate via BizFile+: ACRA online portal. Private Limited company takes less than 1 day to incorporate
- Register with IRAS: Inland Revenue Authority for corporate tax and GST if turnover exceeds SGD 1M
- Open corporate bank account: DBS, OCBC or UOB are primary options. Allow 2 to 4 weeks for full setup
- Apply for relevant MAS licences: required for financial services, payments and capital markets activities
Indicative cost: 10-person team
Professional-services team (1 senior manager, 5 professionals, 2 admin, 2 support), Grade A office, registration, legal, audit and tax compliance. Model estimate, not a quote.
First year by industry (10 people)
Regulatory watch
- Jan 2026 · EP Salary Threshold Revised: MOM raised Employment Pass minimum salary threshold to SGD 5,600 per month.
- Mar 2026 · GST Rate Finalised at 9%: Singapore GST rate confirmed at 9% following phased increase. Businesses reminded to update systems.
- Mar 2026 · MAS Digital Asset Framework: Monetary Authority of Singapore issued final licensing framework for digital asset service providers. Applications open from April 2026.
- Feb 2026 · Corporate Tax Rebate 2026: Singapore Budget 2026 announced 50% corporate income tax rebate capped at SGD 40,000 for qualifying companies for Year of Assessment 2026.
Compare with Southeast Asia peers
Tap a market to see it side by side with Singapore.
Common questions
Is Singapore a good market to enter in 2026?
Singapore has a long-term score of 9.1/10 on EmergingMarketIQ’s index (long-term risk: Low) and scores 9.1/10 now, as of 24 September 2026. Worlds top business hub and gateway to ASEAN markets. No direct exposure to the Iran conflict. Higher global oil prices (Brent above US$100 in late Sep 2026) and shipping disruption raise operating and logistics costs.
How much does it cost to set up a 10-person office in Singapore?
Our cost model estimates about US$1.8M for the first year (≈US$143k per month run-rate plus ≈US$22k one-off setup) for a 10-person professional-services team; depending on industry the range is US$1.5M–US$2.2M. Indicative only.
What are the first steps to set up a company in Singapore?
Incorporate via BizFile+: ACRA online portal. Private Limited company takes less than 1 day to incorporate Then: Register with IRAS: Inland Revenue Authority for corporate tax and GST if turnover exceeds SGD 1M Then: Open corporate bank account: DBS, OCBC or UOB are primary options. Allow 2 to 4 weeks for full setup Then: Apply for relevant MAS licences: required for financial services, payments and capital markets activities
Source: EmergingMarketIQ country dataset. Current conditions and alerts updated 24 September 2026; GDP (World Bank 2025) and FX 24 September 2026; structural scores reviewed 16 October 2026. Rules, rates and conditions change, so verify with local counsel before acting. Not legal, tax or investment advice.