Why Global Entrepreneurs Are Choosing Singapore in 2025 (And How You Can Too)
Singapore remains one of the most attractive places in the world to start and grow a business, and 2025 brings even more reasons for entrepreneurs to take notice.
In this guide, we’ll cover why global founders are choosing Singapore, what government incentives you can access, and how to expand to Singapore quickly and easily.
Quick Summary
Singapore continues to dominate as the top choice for global entrepreneurs in 2025, offering 100% foreign ownership, 1-2 day incorporation, and a competitive 17% corporate tax rate with substantial startup exemptions. The city-state provides unmatched access to Southeast Asian markets through 25+ free trade agreements, world-class infrastructure, and government grants covering up to 70% of expansion costs.
Essential Points
Fast & Foreign-Friendly Setup: Incorporate a Private Limited company in 1-2 days with 100% foreign ownership—no local partners required, only one resident director and registered address needed
Generous Tax Incentives: Enjoy 17% corporate tax rate with up to 75% exemption on first S$100,000 income for three years, plus no capital gains or dividend taxes for maximum reinvestment potential
Strategic Market Gateway: Access 600+ million consumers across Southeast Asia through Singapore's central location, world-class Changi Airport connectivity, and 25+ free trade agreements, reducing barriers
Benefits of Doing Business in Singapore
Here are some of the main reasons why global entrepreneurs are choosing Singapore in 2025.
Efficient Incorporation and Full Foreign Ownership
Singapore offers one of the world’s most convenient incorporation processes. Setting up a Private Limited (Pte Ltd) company - the preferred structure for most entrepreneurs - can be completed online in as little as 1-2 working days, provided all documentation is in order.
Singapore also allows foreigners to own 100% of the company, with no requirement for local shareholders or partners. The only local requirement is a registered address and the appointment of at least one resident director, which can easily be fulfilled through professional service providers.
Business Friendliness
Even though the World Bank has stopped publishing its Ease of Doing Business index, Singapore is still widely recognised for its strong business environment. In the 2024 IMD World Competitiveness Ranking, Singapore was placed fourth globally, praised for its efficient regulations, easy access to capital, and stable economy.
Legal stability is another major advantage. Singapore is consistently ranked as one of the least corrupt countries in the world, with a fair and independent legal system.
Pro-business Tax Regime
Singapore’s tax structure remains one of its most cited business advantages. The corporate tax rate is capped at 17% — one of the lowest in the developed world — and startups can receive several tax reliefs in their early years.
As of 2025, new companies can receive up to a 75% exemption on the first SGD 100,000 of chargeable income, and a further 50% exemption on the next SGD 100,000 for the first three consecutive years of assessment.
Additionally, Singapore does not tax capital gains or dividends, allowing founders and investors to keep more of their profits and reinvest them in the crucial early years.
The country also has over 100 Double Taxation Agreements (DTAs), which help reduce taxes for businesses involved in cross-border trade or setting up holding companies.
Legal Stability and Intellectual Property (IP) Protection
Singapore has one of the most transparent legal systems in Asia, with strong rules to protect contracts, intellectual property, and corporate governance.
According to the 2023 International IP Index by the U.S. Chamber of Commerce, Singapore ranked among the world’s top ten for IP protection, making it a safe place for founders to develop technologies and brands and explore valuable ideas.
Access to Skilled Talent and Innovation Hubs
Singapore offers a highly skilled, English-speaking workforce, making it easy for businesses to hire local and global talent.
The country had been at the forefront of digital transformation, and also ranks among the best in global education, with students consistently scoring top marks in international tests like the OECD’s PISA rankings.
Entrepreneurs can also benefit from dedicated startup hubs like LaunchPad, PIXEL, and Block71, to name a few.
Strategic Location and Market Access
Singapore’s central location in Southeast Asia makes it an ideal gateway to fast-growing markets like China, India, Indonesia, and Australia. The country offers world-class infrastructure, air and sea links, with Changi Airport providing direct flights to over 100 countries and one of the busiest ports globally for trade and shipping.
Singapore is also part of over 25 Free Trade Agreements, allowing businesses to build strategic partnerships and expand beyond regional markets with fewer tariffs and trade barriers.
Singapore's connectivity opens up new collaboration opportunities within Asia Pacific and makes the country the perfect base for international expansion.
Government Initiatives for Business Growth
The Singaporean government offers many targeted grants and programmes that make it easier and more affordable for foreign startups to set up and expand. These schemes include many benefits: reducing costs, supporting innovation, and opening doors to global markets.
Below, we’ve listed some of the most helpful incentives available in 2025, which support innovation and business growth.
Enterprise Development Grant (EDG)
The Enterprise Development Grant helps businesses fund projects that improve their operations, boost productivity, or support overseas expansion.
It covers up to 50% of eligible costs, including consultancy fees, software, equipment, and manpower. For startups, this can make a major difference when investing in technology upgrades or preparing to enter new markets.
To qualify, your business must be registered in Singapore, have at least 30% local ownership, and show financial stability.
Market Readiness Assistance (MRA) Grant
The MRA Grant is designed to help companies expand internationally by reducing the costs of entering new markets.
It offers up to 50% support for expenses like marketing, legal fees, trade shows, or overseas business development. The grant provides up to SGD 100,000 per target market, making it especially useful for startups aiming to grow their presence in Asia or beyond.
Eligible companies must be registered in Singapore, have less than SGD 100 million in revenue or fewer than 200 employees, and have limited prior sales in the market they want to enter.
Productivity Solutions Grant (PSG)
For startups looking to digitalise or improve efficiency, the Productivity Solutions Grant covers up to 50% of the costs of adopting pre-approved digital tools, software, and equipment.
This scheme helps businesses modernise their operations without significant upfront investment, making it ideal for smaller teams that want to streamline processes quickly.
Eligibility is open to all Singapore-registered companies across different industries, including those led by foreign founders, as long as the solutions they choose are on the government’s approved list.
Global Ready Talent Programme (GRT) and Overseas Market Immersion Programme (OMIP)
The Global Ready Talent Programme helps companies build international teams by providing funding for overseas internships and attachments.
Similarly, the Overseas Market Immersion Programme covers up to 70% of salary costs for employees who are posted to new markets. Both schemes make it more affordable for startups to develop global capabilities and send their teams abroad.
Companies must be based in Singapore and meet SME requirements to access these programmes.
Double Tax Deduction for Internationalisation (DTDi)
The Double Tax Deduction for Internationalisation scheme offers a 200% tax deduction on eligible expenses that support overseas market expansion. This includes costs for international marketing, trade shows, and other business development activities abroad.
By reducing taxable income, the DTDi lowers the financial burden of expanding globally, making it easier for businesses to grow beyond Singapore.
The scheme is available to Singapore-registered companies that meet the government’s requirements for internationalisation expenses.
SkillsFuture Enterprise Credit (SFEC)
The SkillsFuture Enterprise Credit gives businesses up to SGD 10,000 to offset the cost of workforce training and business transformation.
Startups can use the grant to invest in staff development or upgrade their processes, which helps build stronger teams and more resilient operations.
Global Founder Programme (2025)
The Global Founder Programme, run by the Singapore Economic Development Board (EDB), helps seasoned entrepreneurs set up and grow innovative businesses in Singapore. The programme provides relocation support, access to investors, and fast-tracked help to scale across the region.
Founders also receive guidance on setting up their company, building local teams, and entering new markets. To qualify, you’ll need a proven track record in entrepreneurship and plans to build a high-growth, scalable business from Singapore.
The Global Founder Programme gives higher priority to startups in technology, innovation, and sectors that support Singapore’s long-term economic goals.
More details on specific eligibility requirements are expected to be announced as the programme rolls out in 2025.
Eligibility and Application Process for Starting a Business Setup in Singapore
Starting a business in Singapore is known for being efficient and open to foreign entrepreneurs, with minimal restrictions and ample government support. The process is straightforward, but there are specific requirements you must meet.
Eligibility
Foreigners can own 100% of a company in Singapore. There are no restrictions on foreign shareholding, and you do not need a local partner or investor to incorporate your business.
Most entrepreneurs choose to set up a Private Limited (Pte Ltd) company, which offers tax advantages, credibility, and limited liability protection.
You also have the option of choosing between these business models:
Sole proprietorship. Owned and controlled by one person, suitable for small businesses, but does not offer personal liability protection.
Partnership. Owned by two or more individuals or companies, with shared responsibility; partners are personally liable for business debts.
Limited Liability Partnership (LLP). Combines the flexibility of a partnership with limited liability for partners, often used by professional services firms.
However, all companies must have at least one director who is a Singapore resident, meaning a Singapore citizen, permanent resident (PR), or someone holding an eligible work pass such as the EntrePass.
A registered local address is also mandatory for all companies, which serves as the official point of contact for legal and government correspondence.
Application Process
Incorporating a company in Singapore is fully digital and can often be completed in one to two working days. The process is handled through Singapore’s Accounting and Corporate Regulatory Authority (ACRA) portal, with the following steps:
Choose and reserve your company name, subject to approval by ACRA.
Prepare necessary documents, including shareholder details, director information, and the company constitution.
Appoint a local director and registered address, both required at the time of incorporation.
File incorporation with ACRA, which issues the official Certificate of Incorporation once approved.
Open a corporate bank account, typically after incorporation, with local or international banks operating in Singapore.
Foreign entrepreneurs planning to relocate to Singapore can apply for the EntrePass, a work visa designed for foreign startup founders. This visa also satisfies the local director requirement.
If you’re planning on applying for government grants, here are some extra conditions to keep in mind:
Many grants, such as the Enterprise Development Grant (EDG) or Market Readiness Assistance (MRA), require your company to have at least 30% local shareholding, meaning shares held by Singapore citizens or permanent residents.
Your business must be registered as a Private Limited (Pte Ltd) company to qualify for most grants, as sole proprietorships and partnerships are generally not eligible.
Some schemes are only available to companies that meet the government’s SME criteria, typically defined by having an annual turnover of under SGD 100 million or fewer than 200 employees.
Most grants require that your company be financially viable, meaning it should have the ability to fund its portion of the project costs even after grant support.
Understanding these conditions early allows you to structure your company and shareholding appropriately from the start, ensuring your business can take full advantage of Singapore’s incentive programmes.
Testimonials From Global Entrepreneurs Singapore 2025
Here’s what global founders are saying about their experience incorporating in Singapore:
“Singapore’s clear, business-friendly regulatory and legal frameworks make it an ideal place to build a business, especially for a regulated venture like LXA. The Monetary Authority of Singapore (MAS) is not only progressive but highly respected in the region, giving us a strong foundation as we expand into new markets.”
— Shawn Low, Co-founder and COO of LXA,
“In 2019, Stripe asked me to relocate to Singapore to lead its APAC business. My plan was to be here for one to two years. Moving here expanded my worldview and gave me a truly global mindset.
My experience living in Singapore caused me to think global from Day One, when it was time to start my latest company. Singapore has created the ideal environment for both family and business, where we can build relationships across cultures both personally and professionally.”
— Noah Pepper, Co-founder and CEO of Multiplier Holdings
Incorporate Today With Piloto Asia
At Piloto Asia, we help foreign entrepreneurs launch and scale in Singapore with confidence.
From securing your ACRA company registration to providing nominee director services, a registered office address, and full compliance support, we handle every step of the business setup process.
Ready to build your Singapore business the right way? Book a free consultation today!