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Singapore sling: A tax-friendly gateway into ASEAN economic growth

Law firms looking to capitalise on the ASEAN's region economic growth should set up an office in Singapore, says Neil Williams

18 March 2015

Offering a wealth of opportunities for businesses, Singapore is a natural destination for law firms considering overseas expansion. Singapore's GDP in 2014 was just below S$400bn, while its per capita was S$71,318, making it the ninth highest in the world, according to World Bank data.

The city state holds a dominant strategic position within the ASEAN Economic Community, an increasingly important region of 600 million residents - considerably larger than the European Union (EU). The 2015 Index of Economic Freedom ranks Singapore as the second-freest economy in the world, behind Hong Kong.

Singapore's open and trade-oriented economy relies heavily on manufacturing and exports, particularly of consumer electronics, information technology products and pharmaceuticals. At the same time, Singapore is a leading provider of services in international banking, trade finance, maritime finance, insurance,...

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