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Singapore among top jurisdictions for business, despite regulatory challenges: Global Business Complexity Index

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The report noted that local tax laws and mandatory Central Provident Fund (CPF) could be hurdles but Singapore remains attractive to businesses.

SINGAPORE: Singapore remains one of the most favorable environments for business, ranking 47th out of 79 jurisdictions in the 11th edition of the Global Business Complexity Index .

The report emphasized Singapore’s ease of business incorporation, making it an attractive destination for companies looking to expand into the Asia-Pacific region. The country’s transparent regulations, efficient legal frameworks, and well-structured government processes contribute to its reputation as a business-friendly nation.

The nation’s stringent Anti-Money Laundering regulations and other compliance frameworks impose higher reporting obligations on businesses. These measures, while essential for maintaining Singapore’s integrity as a financial hub, add layers of complexity to operational processes.

 

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