A quick Google search on which countries are best to launch a #startup reveals Singapore as one of the top choices. It’s not hard to see why. Singapore prides itself as the easiest place to do business, with incorporating a business taking typically just one or two days.
The government has also been known to be actively involved in the startup scene, offering grants and schemes which are beneficial during the early stages of a business. One such example is SPRING’s Startup Enterprise Development Scheme (SEEDS), which invests the same amount as by a third party investor, with a limit capped at US$1.47m. More than 250 startups have also been supported by IDM Jump-start and Mentor (i.JAM). The government grant, close to US$37,000, has allowed hundreds of startups to carry out concept testing and market validation before seeking investment.
Unsurprisingly, the country has been a hotbed for investors and startups.
Making the move from India to Singapore
In recent years, we have seen several Indian startups relocating to Singapore. In 2011, India’s largest e-commerce startup Flipkart set up its holding company in the little red dot, while Grofers shifted its headquarters in 2015.
Push factors to move to Singapore included high tax and regulations for companies back in India. In contrast to India’s corporate tax of more than 30 percent, the city-state caps corporate tax at just 17 percent. Other reasons cited which encouraged companies to relocate included the tech-friendly market and ease of hiring expat talent in Singapore.
Is Singapore on your expansion road map?
With an expansion into an unfamiliar territory, there are bound to be obstacles along the way. Here’s when corporate consultancy firm, In.Corp Group, comes into the picture. With over 20 years of experience and know-how, In.Corp Group (including their key subsidiaries Rikvin and APB) has offered corporate solutions to thousands of companies and has been established as the Corporate Services Partner of Action Community for Entrepreneurship (ACE) and the Singapore Economic Development Board (EDB). Their services include business registrations, accounting, taxation, immigration, insurance policies, and keeping companies updated on regulatory changes and their potential impact.
On 14 November, In.Corp will be conducting an information session to share the why and how-tos of incorporating a startup in Singapore. Look forward to keynotes and panel discussions by industry experts from In.Corp, Singapore Economic Development Board, and BlackPepper Technologies, as they share insights on fields such as incorporating a company and recruiting.
If you’re thinking of joining the vibrant startup landscape here in Singapore, this is an event not to be missed.
The session is free to attend. Click on the button below to register your interest. As this is an invite-only event, successful applicants will be notified via email by 10 November 2017. We look forward to meeting you there!
Expansion Strategies: The Singapore Advantage – Bangalore edition
Eric Chin – Group Head of Business Development, In.Corp Global
Rachel Chia – Regional Director, India & Israel, Economic Development Board
Basavaraj Nagaraju – Executive Vice President, Strategy & Marketing, Blackpepper Technologies
Sumit Chakraberty – Senior Editor, Tech in Asia
Date: 14 November 2017, Tuesday
Time: 7pm – 10pm (Registration starts at 6.30pm)
Venue: JW Marriott Hotel Bengaluru
Converted from Singapore dollars. Rate: US$1 = SGD 1.36.