British companies must “go out and get the business” in Asia post-Brexit to ensure the future prosperity of the UK economy says British finance minister Philip Hammond.
A quick statistic: 60% of the Earth’s population lives in Asia.
Another — average GDP growth across the region for the past 5 years is over 6%.
These are two very solid reasons to set up shop in Asia.
The are issues, like:
- Where to start?
- Where is the best place to set up shop?
- What are the lowest corporate tax rates?
- Where are the best banks?
- Where are the laws straightforward?
- Will I understand what’s going on?
- Do they speak English?
- Who are my partners going to be?
The answer to most of the above starts in a small city state, sandwiched between Indonesia and Malaysia.
Singapore comes at the top of most lists and is a second home to many UK companies wanting to conduct business in Asia. The Lion City, as it’s colloquially known, benefits from very straightforward, U.K. inherited, laws and a transparency and is rated number 7 in the world. And setting up a company, with world-class banking and accounting is straightforward and efficient.
Singapore’s geographical location makes it very handy as a jump off point for the surrounding region – Jakarta and Bangkok are around two hours flight and cities in China, India and the Philippines are less than four hours away,
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