[258] COMPETITIVIDADE ENTRE PAÍSES: NATIONAL COMPETITIVENESS: ASIA'S BEST PLACE TO DO BUSINESS: SINGAPORE VS HONG KONG. By Healy Consultants.

Singapore	Hong Kong

Asias’s Best Place to Do Business: Singapore VS Hong Kong [08set2015]

Aidan Healy; September 8, 2015

http://www.healyconsultants.com/blog/singapore-vs-hong-kong/

1.       For many years now, Singapore and Hong Kong have been going head to head in a battle to be regarded as Asia’s ‘Best Place to do Business’. Both jurisdictions are respected international business hubs with world-class infrastructure and facilities, while at the same time being ideally located to facilitate access to other Southeast and North Asian markets.

2.       Their tax friendly policies, efficient company incorporation procedures, and social stability are just some of many factors that have contributed to an influx of foreign investors to the respective jurisdictions.

3.       Unfortunately, there is no clear-cut winner to this battle between Singapore and Hong Kong.  Different investors have different investments, and hence different sets of requirements.

4.       However, this article will look to at an overview of rankings in which Singapore and Hong Kong are plotted against each other. By doing so, we hope to better understand the advantages and disadvantages of incorporation in Hong Kong and Singapore respectively, and also draw a comparison between the two jurisdictions wherever possible.

5.       While looking into the statistical rankings, we will address factors such as location, economic environment, taxation policies, workforce, quality of life, and the general ease of doing business.

6.       Overall, Singapore’s attractiveness as an international business hub is increasing at a rapid pace. On the other hand, Hong Kong, also considered one of the best places to start a company in the world, is strengthening its stronghold within the region. 

7.       Despite its relative lower placing across the various categories of rankings, Hong Kong could well still be the most ideal location for a certain investor to set up a company.  To better understand which country suits your business and individual needs please do not hesitate to contact us at Healy Consultants.

8.       Healy Consultants is a corporate services firm providing international clients with a range of company formation and corporate advisory services. Headquartered in Singapore, the firm has an exceptional knowledge of Singapore company registration and Hong Kong company registration.

Update: Healy Consultants just launched Singapore registration guides in Chinese, French, Russian, and Spanish.

Asia’s ‘Best Place to do Business’: Comparison Chart [2015]

Category	Singapore’s’ Rank	Hong Kong’s’ Rank	Source
1.    Nation with the Highest Public Trust of Politicians	1	18	World Economic Forums’ Global Competitive Report 2014/15
2.    Burden of Government regulation	2	5	World Economic Forums’ Global Competitive Report 2014/15
3.    Transparency Of Government Policymaking	1	4	World Economic Forums’ Global Competitive Report 2014/15
4.    Cost of Living	4	3	Mercer Human Resource Consulting 2014
5.    Best Quality of Living in the World	26	70	Mercer Human Resource Consulting 2015
6.    Wastefulness of Government Spending	3	14	World Economic Forums’ Global Competitive Report 2014/15
7.    Most Competitive Economy	3	2	IMD World Competitiveness Scoreboard,2015
8.    Co-operation in Labor-employer Relations	2	9	World Economic Forums’ Global Competitive Report 2014/15
9.    Reliance on Professional management	6	27	World Economic Forums’ Global Competitive Report 2014/15
10. Pay and Productivity	4	1	World Economic Forums’ Global Competitive Report 2014/15
11. Worlds Freest Economy	2	1	The Heritage Foundation, Index of Economic Freedom, 2015
12. Quality of overall infrastructure	5	2	World Economic Forums’ Global Competitive Report 2014/15
13. Quality of Port Infrastructure	2	4	World Economic Forums’ Global Competitive Report 2014/15
14. Quality of Air Transport Infrastructure	1	3	World Economic Forums’ Global Competitive Report 2014/15
15. Efficiency of Legal Framework in Settling Disputes	1	3	World Economic Forums’ Global Competitive Report 2014/15

(Click on the image below to save this infographic in high quality)

Asia’s ‘Best Place to do Business’: Comparison graphic [2015]