Country profile
Singapore
Best : For Asia-facing founders who want top-tier banking reputation and accept high costs.
A city-state of about 6 million people and the financial and logistics hub of Southeast Asia. Fast, English-speaking administration, 17% corporate tax, no capital gains tax; in return, living costs, rents and compliance are among the highest in the set.
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International rankings
The main public indices scoring business climate, economic freedom, corruption, peace and domestic safety. Figures copied from the official editions; a weak rank shows where to look closer.
| Index | Score | Rank |
|---|---|---|
| Doing Business 2020Banque mondiale / World BankScore 0–100, rank out of 190 economies (1 = best). | 86.2 | #2 / 190 |
| B-READY 2025Banque mondiale / World BankThree pillars scored 0–100 (regulatory framework, public services, operational efficiency). No overall rank: the World Bank publishes a quintile per pillar across 101 economies. |
| |
| Index of Economic Freedom 2026Heritage FoundationScore 0–100, rank out of 184 countries (1 = freest). | 84.4 | #1 / 184 |
| Corruption Perceptions Index 2025Transparency InternationalScore 0–100 (100 = very clean), rank out of 182 countries. | 84 | #3 / 182 |
| Global Peace Index 2026Institute for Economics & PeaceScore 1–5 (lower = more peaceful), rank out of 163 countries. | 1.435 | #8 / 163 |
| GPI 2026 — Societal Safety and SecurityInstitute for Economics & PeaceScore 1–5 (lower = safer), rank out of 163 countries (1 = safest). | 1.341 | #6 / 163 |
- Doing Business 2020 : Last published edition (data as of May 2019). The World Bank discontinued the series in 2021 after data irregularities: read it as a historical benchmark.
- B-READY 2025 : Successor to Doing Business. Sample averages: 66.3 / 54.0 / 60.0. The 2026 edition (over 160 economies) is due by end-2026.
- Index of Economic Freedom 2026 : Hong Kong has not been graded separately since 2021 (folded into China).
- Corruption Perceptions Index 2025 : Published February 2026.
- Global Peace Index 2026 : Overall rank: conflict, domestic safety and militarisation. Day-to-day safety is the next row. Malta and Hong Kong are not covered.
- GPI 2026 — Societal Safety and Security : Appendix C of the 2026 GPI: homicide, violent crime, terrorism and instability. Excludes armed conflict and militarisation. Malta and Hong Kong are not covered.
Geopolitical risk
Tax by profile
Tax and contributions actually paid on a reference case, for a newcomer who is tax resident in 2026. Where a special regime is open to them, it is applied and flagged. The score out of 10 follows from the effective rate.
Rentier
10/10
Effective rate ≈ 0%
- Dividends exempt (one-tier system)
- No capital gains tax; interest from approved banks exempt
Employee
9/10
Effective rate ≈ 5%
- Resident scale 0% to 24%: about SGD 4,500 on SGD 90,000
- No CPF for foreigners
Entrepreneur
8.5/10
Effective rate ≈ 8%
- 17% corporate tax after partial exemption: about 8.2%
- Dividends exempt
In the first three years, the start-up exemption lowers the rate further.
Reference cases and scoring
- Rentier: €100,000 a year from a foreign portfolio (€40,000 dividends, €20,000 interest, €40,000 gains on listed shares), no other activity.
- Employee: €60,000 gross a year paid by a local employer, single with no children. Employee contributions included, employer share excluded.
- Entrepreneur: €100,000 profit from a small local business, fully paid to the owner through the most common route (company and dividends, or sole trader).
Score = 10 minus 0.2 per point of effective rate (0% gives 10, 25% gives 5, 50% or more gives 0), rounded to the half point. Foreign withholding taxes and employer contributions are not counted.
Indicative figures as of October 2026 · Main source : iras.gov.sg. Not tax advice.
Business: incorporating
Singapore pairs Asia credibility, 17% corporate tax with partial start-up exemptions, and strong banking. The price is high: company secretary, resident director, and local accounting are not optional for foreign founders.
17%
Corporate tax
$400–$5,000
Setup
USD, indicative
$2,500–$8,000
Per year
USD, indicative
9/10
Ease
Ranking
7/10
Banking
Ranking
6/10
CFC
CFC (règles ciblées)
ACRA looks cheap on paper (~S$300+), but foreigners must budget company secretary + resident director (often $2k+/year) plus accounting. All-in formation + nominee packages climb into several thousand USD quickly. Credible Asia hub, not a low-cost play for non-residents.
Who it fits
- Asia-Pacific activity needing Singapore company branding
- Founders who can carry $2.5k–8k/year of structural compliance
- Holding or trading with documented governance and regional tier-one banks
The real drawbacks
- Bootstrapped solo seeking minimum cost: nominees and secretaries add up
- Structure with no Asia link or economic justification for authorities
- Expecting full anonymity. UBO transparency and ACRA filing are strict
Real estate: investing
3.5 %
Net yield
indicative
≈ 450 k€
30 m² studio
Singapore City
~3%
Purchase costs
+40%
10-year prices
+25%
5-year prices
- Rental income tax : 22%
- Capital gains (personal holding) : 0% (souvent, hors trading)
- Capital gains (via company) : 0% (souvent, hors trading)
- Public debt / GDP : 160%
- Currency : SGD
Reference listings portal : PropertyGuru
Moving there: living and residence
4.8/10
Liberty score
equal weights
0–24%
Income tax
0%
Inheritance
Restricted
Homeschool
Residence routes
- Employment Pass (EP): 1–2 year renewable pass
- EntrePass (entrepreneur): Renewable entrepreneur pass with business milestones
- Permanent Residence (PR): PR status (not citizenship)
Reference cities
- Singapore City (cost high)
Very safe, clean, efficient and English-speaking, with excellent schools and hospitals. Housing and cars are extremely expensive, it is hot and humid all year, and rules are enforced without exception. - Jurong (cost mid)
A fast-developing western area and second business district, with newer housing cheaper than the centre. More residential and industrial, far from downtown life.
Go deeper on Singapore
The 16 reference countries
Each country fits a different profile. Pick the one that matches yours.
Indicative Liberty Stack data · Methodology · Rankings : Doing Business 2020, B-READY 2025, Index of Economic Freedom 2026, Corruption Perceptions Index 2025, Global Peace Index 2026, GPI 2026 — Societal Safety and Security.