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Singapore – Singapore vs. United Kingdom: A Comparative Summary

A Snapshot Comparison : Singapore vs. United Kingdom

Explore the essentials of doing business in Singapore and the UK. From corporate landscapes to workforce dynamics, taxes, and competitiveness, this concise table offers key insights for your business considerations.

Aspect Singapore United Kingdom
Business Environment 
(DB Score)
86.2 (ranked 2nd globally)83.5 (ranked 8th globally)
Economic OverviewFavors foreign trade, tax benefits, streamlined incorporation.Independent and developed, 55.5% of GDP from international trade.
Corporate LandscapeDynamic, globalized, innovation hub.Market-oriented, business-friendly, robust economy.
Workforce CompositionYoung, predominantly 
Median age 40.5, diverse 
workforce mix.
Language ProficiencyEnglish proficiency, 
Proficient in English, regional 
languages like Scots and Welsh.
Incorporation ProcessACRA, streamlined 
BizFile+ registration.
Digital or paper-based, Form 
IN01, with various requirements.
Filing ProceduresDetailed requirements in BizFile+, varying per business type.The UK government website outlines 
incorporation steps and prerequisites.
Visa and ImmigrationMultiple visa types (EntrePass, Employment Pass).Various visas (Senior or Specialist Worker, 
Health and Care Worker, Long-term Work).
Taxation StructureCompetitive flat tax rate of 17%.Corporate tax rate remains at 19%, planned increase canceled.
Intellectual Property 
Emphasis on IP protection since 2003.Strong IP protection, efficient safeguards for rights.
Bureaucratic EfficiencyHighly efficient, functional bureaucracy.Operates with His Majesty’s Civil Service.
Openness to Trade
Business-friendly, open to foreign trade and investment.Limited openness post-Brexit, impacting 
productivity and competitiveness.
Global Competitiveness
Ranked 1st globally for competitiveness.Global competitiveness declined post-Brexit, ranking 9th globally.
Geographical Location
Strategic location in SEA and Asia.Former EU trading hub, decline in foreign trade post-Brexit.