The EU this week announced a pilot program, New Business Avenues into Southeast Asia for European SMEs in the Southeast Asian region via a hub in Singapore. According to the SingaporeCompanyIncorporation.sg, a leading Singapore incorporation portal, the new office hub there in Singapore makes strategic sense.
Singapore, located in the heart of SE Asia, offers a tax-friendly environment, lower cost of borrowing, excellent technological and communication facilities, and state-of-the-art port infrastructure. Furthermore, incorporation in Singapore takes only one to two business days, compared to extensive red tape in other countries. Located in proximity to Kuala Lumpur, Beijing, Shanghai, Hong Kong, Taipei and Manila, Singapore affords European businesses key location advantages too.
The new program, announced by the ambassador and head of delegation of the EU, Dr. Michael Pulch, at the European Day Celebration luncheon at Singapore’s Shangri-La Hotel, will help over 10,000 businesses from Europe better operate in the region, in addition to providing incentive for new SMEs to engage there.