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Singapore

Mundo’s Country Rating

Mundo’s country rating is essentially a freedom index whereby our team of specialists rates a combination of freedoms which include freedom from violence and personal attacks, financial freedom from high taxes, business freedom from government interference, and especially from socialism and communism.

Political stability: 10

We start the Singapore country rating with the fact that it is the least corrupt country on the planet and has one of the most stable governments in the world. The same party has ruled for its over 60 years of existence, but not through a dictatorship, but by winning free elections. Indeed, Singapore is not deemed as a democratic government as some freedoms are curtailed, yet the rule of law is strong and the judiciary is independent. The country is based on its free economy, meaning that stronger regulations and high taxes are almost off the table. Thus, you can rest assured that your money and your business are safe in Singapore for the foreseeable future.

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Personal safety: 10

Singapore is one of the safest countries for foreigners in the world. Law enforcement is tough and the fact that capital punishment is legal for many crimes, from homicide and kidnapping to drug dealing, acts as a deterrent that keeps the crime rate low. Plus, gun control is strict, meaning criminals rarely commit crimes with firearms. Still, violent crimes are incredibly rare, especially against foreigners. This means that the only thing you should worry about, as in all major cities, is pickpocketing and similar crimes.

Lifestyle: 9

If you want a luxurious, contemporary, and high-tech lifestyle, Singapore is the right place. To be sure, the cost of living is high, but it is worth it. Singaporeans and ex-pats alike are used to a work hard, play hard type of living, with excellent nightlife, tons of outdoor activities, and malls to spend all day long shopping, drinking, and eating. Plus, air and sea travel from Singapore is efficient, meaning that if you get tired from the city-island, you can take a three-hour drive to Pasir Panjang or a ferry to Rawa island, widely considered the best beaches in Malaysia.

Taxation: 8

Singapore is not an offshore destination but it offers some of the best onshore tax optimization out there. First of all, the tax system is almost entirely territorial, which means that you only pay taxes on your income derived from Singapore. Second, for companies, there are juicy tax breaks that can significantly lower your tax exposure. Plus, the personal income tax rate goes from 0 to 22%, which is significantly lower than in most OECD countries where over half of your income can go away in taxes. So, indeed, you will not optimize your taxes like in an offshore paradise, but with a good advisor, you will not need to worry too much about paying hefty taxes.

Investment potential: 10

Singapore connects over 600 hundred ports in 120 countries. It is home to over 37,000 international companies with over 7,000 of them being multinational corporations from the US and the EU.

The attractiveness of investing in Singapore comes from:

Its strategic geolocation, serving as a middle point between India and China.
Its pro-business environment with transparent regulations, almost no corruption, a free economy, and low taxes
Its well-developed financial sector, as it has one of the best banking industries on the planet and advanced and stable financial instruments

This makes Singapore an excellent destination for financial investors and those interested in the shipping business

Score: 47/50, AAA