Is It Easy for Foreigners to Own a Business in Asia?

The Asian region offers some of the highest ranking locations for investors with intentions to start a business or expand their already established business. The reasons behind the attractiveness of the Asian region include the availability of a ready market due to the ever-increasing population and the strengthening of economies, and the availability of talents to provide the workforce. Also, most of the countries have a well-developed infrastructure and highly advanced technology, and the governments promote entrepreneurship through finances, protective laws, and research and development funding. Although the business environment varies significantly from one country to another in Asia, one thing is common across the board: They provide a lot of opportunities for innovative investors.

Here are some Asian countries that offer great business opportunities for foreigners:

Singapore

Singapore has been ranked as the easiest place to start a business across the world for several years in a row. This Asian country embraces foreign investors and actually encourages them to set up business there through the low tax rates. The country has very straightforward business registration and incorporation processes and the economy is very stable. The technology is advanced and the infrastructure is first-class.

The tax rates in Singapore are quite friendly—the standard corporate income tax rate is 17% and the first 100,000 SGD of the normal taxable income is not taxed, while the subsequent 290,000 SGD is taxed at 50%. The low corruption and crime levels, protection of intellectual properties, and high living standards make Singapore a great business destination for foreigners. Also, the use of English as the official business language favors foreign investors. If you are considering starting a business in the island state and enjoying its benefits, you need to apply for Singapore Entrepass with the assistance of a reliable agent.

Saudi Arabia

The Kingdom of Saudi Arabia ranks highly among the most attractive countries where foreigners can invest. It is also a significant part of the global economy. While there have been restrictions in the past on areas where foreigners could invest and on 100% ownership of business by foreigners, the government has amended some of these things, making foreign investors find Saudi Arabia quite attractive. New sectors that foreigners can now invest in include real estate brokerage, audiovisual services, recruitment offices, and land transport. Expats or foreign investors can also nowadays own 100% of their business in Saudi Arabia, which previously was not the case and made many would-be investors question the legalities of starting ventures in the kingdom. Also, the process of registering the business with the Saudi Ministry of Commerce and Industries is not complex and can be completed in 5 days.

Hong Kong

Hong Kong is a strong rival of Singapore when it comes to the ease and attractiveness of doing business due to the advantages to investors. The benefits that foreign investors enjoy include a low tax regime, a straightforward company incorporation process, and several legal entities that are well suited for small, medium, and large business ventures. The standard rate for corporate income tax is 16.5% and unincorporated businesses are charged tax at 15%. Also, foreign investors can consider doing business in Hong Kong by starting a branch there, and they will enjoy some benefits including the provisions of double taxation. This Asian country is a perfect destination for foreign investors who desire to have a company in a global business setting while still being very close to China.

Conclusion

It is easy and very profitable to own a business as a foreigner in the Asian continent. The main reasons are that there is a wide market, a large pool of talent, and great innovations. Finally, most countries offer great support and have friendly laws and tax regimes.