An island in Asia. Small but one of the most powerful economies globally because it has one of the highest GDPs. Its population is almost 6 million people, and it has the 4th highest gross domestic product in the world with an annual turnover of $531 million and the highest number of millionaires. On paper, Singapore is considered a democratic state, but it has a free economy and relies mainly on production and exports. Electronics, chemicals, biotechnology, and pharmaceuticals are among its leading industries.
Another industry that has recently seen significant growth in the tourism industry, which is based on spectacular and new attractions that are unparalleled in the world, such as the botanical gardens, the island of Sentosa, the National Museum, and so on.
Singapore is very appealing to foreign investment since its tax rate is only 17% and businesses with incomes under $ 93,000 are exempt from paying tax for the first three years, and there are all kinds of tax relief programs.
In addition to tax policies, the prosperous economy and quality of life in Singapore, another thing that makes it a desirable place for foreign businesses is its international profile, and the English language is spoken there.