Doing Business in Singapore vs Philippines: The Comparison of Advantages in Doing Business in Singapore and the Philippines

Doing Business in Singapore VS PhilippinesInvestors consider several factors when thinking about starting a business. In terms of doing business in Singapore vs Philippines, there are some notable differences between the two.

Every country in Asia has an advantage of its own, and Singapore and the Philippines are no different. While the two share several commonalities, the Southeast Asian neighbours also have key differences that investors need to consider business-wise.

 

Singapore vs Philippines, Which Is Better for Business?

Let’s look at how doing business in Singapore vs Philippines would be like for investors. The following areas should be given some thought since it is going to affect your business operation:

Business Factors Singapore Philippines
Ease of Doing Business Ranked as top one in the world. Consistently voted the easiest place in the world to do business Ranked #124 in the world
Speed of Registering a Business Within 24 hours or an average of 2.5 days 28 days
Foreign Ownership Accepted Accepted
Corporate Taxes Lowest in the world (0-17%) 30%, Fringe benefits tax is 35%, Profit remittance tax at 15% and Corporate income tax at 2% after a business has been operating for 3 years
Value Added Tax (VAT) 7% 12%
Transparency (Rated by Transparency International) 84/100 (The highest an Asian country has scored) 34/100
Work Visas for Foreigners Employment Pass or Entrepass Work Visa
Business Language English, Malay, Mandarin, Tamil English (the second language), Tagalog

 

Doing Business in Singapore VS Philippines

 

Ready to Incorporate?

Whether your choice is Singapore or the Philippines, either way, 3E Accounting can help. Doing business in Singapore vs Philippines is accessible in both countries when you’ve got the right team of experts on your side. Let us help you handle the hassle of the Philippine incorporation process so you can focus on making your business a success. For more information on 3E Accounting’s company incorporation services, contact us today.