It’s always the right time for a Singapore company formation. As the recession ends and the global economy begins to pick up, Singapore is poised to take advantage of the expected growth. The businesses that prepare now through business creation or expansion are going to be miles ahead of their competition. But Singapore has another feature that makes it an attractive business location. It is considered to be one of the least corrupt business and government environments in the world. Even as countries like Russia report 35, 000 cases of corruption in a 9 month period, Singapore is being touted as a great place to do business.
The 2010 Transparencies International Global Report said that its research showed Singapore, Denmark and New Zealand are tied for the spot of least corrupt nation. But Singapore doesn’t mind sharing the limelight. This distinction is a true honor in a world filled with corruption. A company formation in Singapore establishes your business in a secure environment where corruption is not tolerated.
Any business that has had to deal with corruption in the past knows how much it can negatively impact business. Corruption can drain resources, create an unfair competitive environment, and cause many other problems. So choosing to form a company in Singapore makes sense, and choosing to do it now makes even more sense as the economic recovery gains steam. Singapore is well situated as a gateway business location for any company wanting to handle global sales or production.
Singapore laws are specific and forceful in the area of corruption. Corrupt practices include things like price fixing and bribes. Bribes and influence are used to prevent competition and set prices. The Singapore government will not tolerate these practices and prosecutes to the full extent of the law. Your Singapore company formation will create a business that can compete on an equal basis. The business knows it has the full force of the Singapore government working to maintain a healthy business environment.
Unfortunately, in many countries, corruption is simply a way of life. It taints business associations and business deals. That is the primary reason the Transparency International organization was formed. This group focuses on corruption and believes that corruption is not something that should be considered inevitable. Eliminating corruption should be a joint effort between business, government and civil society and Transparency International works to bring these three groups together for a common cause. Singapore embraces this philosophy and has been diligent about putting anti-corruption policies into action.
As the economic recovery gains speed, it is certain that the post-recession global business operating environment is going to be changed forever. As emerging markets gain more economic power and new markets open up for developed nations, Singapore is poised to become a hot spot for business growth. If your company is looking for a welcoming business environment that believes corruption hinders success and should not exist, then it’s time for a Singapore company formation.