For budding entrepreneurs looking to spread their influence eastward, there’s no shortage of fantastic destinations looking to soak up investment. We’ve pulled together just a few of the best places you can choose from when looking to set up your business further afield.
Singapore combines a proximity to China with a strong free-market economy, making it a prime location for investors looking to make inroads. While we might think of the place as a haven for financiers and commodities traders, the economy here is actually quite broad, meaning that there are opportunities for businesses of all kinds. There are low levels of both corporation and income tax, meaning that you’ll be able to keep more of what you earn. Thanks to the abundance of serviced apartments Singapore is home to, you can go over for a stay to get a feel for the area and explore its possibilities for your business needs before committing.
Among the distinguishing features of this part of the world is its low level of corruption. According to the Corruption Perceptions Index, it’s the joint fourth least corrupt country on Earth, coming alongside Switzerland and Sweden. Given the importance of clean governance for a country’s long-term economic prospects, this is a big plus for those looking to set up shop for the long-term.
The UAE has long been an attractive destination for foreign investment, thanks to the simplicity of the incorporation process over there. Most types of business here don’t receive any kind of direct taxation on their income, which makes it an attractive spot for financiers. Property prices in the desert are still low, meaning that there’s an opportunity for rapid growth. The UAE sits down at 21st in the corruption league, just ahead of the United States, which sits at 23rd.
Another benefit of Dubai is that English is widely spoken, meaning that there’s less opportunity for misunderstanding, and that you’ll be made to feel welcome while visiting. For businesses who need to send staff across international boundaries, this is not a small advantage.
Ongoing political strife in Hong Kong may have dampened enthusiasm among investors, but it remains a go-to destination for those looking to do business with China. The growth potential here is enormous, and the rate of corporation tax is highly competitive at just 16.5%. Historically, the Hong Kongese economy has shown impressive resilience, weathering the 1997 and 2008 financial crises far more capably than other nations. The world’s fifth largest stock exchange is to be found here, along with the headquarters of some of world’s largest corporations.
For those looking to form a company in Malaysia, the capital is an obvious place to begin. While it’s not the free-market paradise that some might imagine, certain sectors of the economy have received a range of free-market reforms and tax incentives, all designed to encourage investment and foster growth. Most notable among these are high-tech and healthcare companies.