Singapore benefits from government policies that position the country as open to trade, attract foreign direct investment inflows and that welcome overseas business setting up presence. This has cemented its position as one of Asia's top financial hubs, with many multinational corporations already establishing a pivotal presence here. Singapore is the fourth largest financial centre globally¹ and the third richest in the world². It's home to the biggest foreign exchange (FX) centre in Asia-Pacific and the third largest worldwide, after New York and London³. With these international accolades, it's little wonder the country is hailed as the de facto financial capital of the Southeast Asian region.

1 GFCI, September 2021 rankings, Thomson Reuters, 2021.09
2 “These are the 25 richest countries in the world”, Grant Suneson, USA Today, 2019.07.07
3 “Singapore is largest forex centre in Asia, third largest globally”, The Straits Times, 2019.09.01

Singapore is appealing to investors as an offshore wealth management hub, with 58% of participants in a 2018 survey conducted by Asian Private Banker rating it as their preferred market, followed by Hong Kong and Switzerland⁴.
This comes as little surprise as the city-state's renowned stability, openness to international investment, and economic strength make it a choice destination for investors, as well as foreign business owners looking to invest in Singapore. In 2019, 76% of the assets under management (AUM) in Singapore in originated overseas⁵.

4 The Role of Singapore as an Offshore Wealth Management Hub, Asian Private Banker, 2018
5 Singapore-based asset managers' AUM jumps 15/7% last year: MAS survey, The Business Times, 2020.9.30

Singapore has a tax system that makes it appealing for investors.. Currently, Singapore does not impose capital gains tax, inheritance tax and estate duties. Businesses based in Singapore are subject to a flat corporate income tax rate of 17%. There are various tax incentives and grants available to businesses based in Singapore.