funding, lean-startup, finance, expansionLet start with a small and well regulated country like Singapore, now, assume you want to setup a local office and have local operations, e.g. Sales, Marketing, Customer Services etc.
What are the first steps / caveats / any general advices in doing so?
Singapore has no capital gains tax, and tries to have business friendly policies. The former CFO of Facebook, Eduardo Saverin, moved there (you can infer why). Singapore is quickly moving more into the global view as more and more companies start to expand there or call it home. It is located in Eastern Asia, near powerhouses such as China. The government is starting to push incentives for early stage startups so they can get venture funding. Singaporeans like to establish relationships with potential business partners before making a deal. There are different languages and cultures there. Chinese, Tamils, and Malay are some of the biggest groups. Make sure to be culturally relevant and respectful of their customs in your products. Different cultures interpret things in different ways, such as color. For example, in Muslim and Indian cultures, white is the funeral color, not black like the Western world. Keep this in mind as you market your product.In general, the people are well-educated, and many people are fluent in English (it is required in school and the established language of business. There is a generous amount of paperwork in order to get kickstarted there, but should be no problem for a current business owner in any other country. In terms of operations, Singapore was ranked the easiest country in the world to do business. As with any country, review the laws regarding intellectual property and taxation beforehand. The workforce in Singapore is highly trained and they have a strong work ethic. Knowledge-based jobs are what is attracting the wealth. If you find you need to hire out of the country, Singapore has a fairly relaxed immigration policy. Any country will have problems, but keep your main focus on having great products/services and you can make it anywhere. Good luck!
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