Switzerland is world famous for its banks and blooming economy having a GDP higher than in most of the Western European countries. Also, the price of the Swiss franc (CHF) was quite stable in comparison to other currencies. In year 2009, the financial sector of Switzerland have contributed around 11.6% of total gross domestic product and employed almost 195,000 employees (136,000 of which are employed in the banking sector specifically), which is almost 6% of the overall Swiss labour force. In addition to that, Swiss banks employ roughly 103,000 employees in other countries.
Today roughly thirty three percent of total global funds are being kept outside of originating state (also known as offshore assets), which are kept in Swiss banks and financial institutions. Back in year 2001, Swiss banks have managed a great total of 2.6 trillion United States dollars net worth.
The Swiss authorities recognize the right to secrecy as a core principle that must be secured by any democratic state. While secrecy is guaranteed all bank accounts are connected to an identified individual, also known as ultimate beneficiary. It should also be pointed out that even the bank privacy principle isn’t absolute per se: a prosecutor or a judge is entitled to issue a legal order granting right to apply legally enforced access to bank data essential for leading an investigation.
Asset management industry in Switzerland Asset management is a rapidly developing business in Switzerland. In order to make sure that the Swiss financial centre does actually prosper and benefit from this development, several local banking and financial associations have developed the Asset Management Platform Switzerland. This platform fulfills the duties previously carried out by the Asset Management Initiative, which was started back in year 2012. The ultimate goal of the platform is to make Switzerland an appealing, global level destination for asset management purposes.
Asset management in Switzerland is going to be improved into one of the leading forces of the Swiss financial centre. Asset management industry is going to be recognized globally for high levels of trust and quality. The aforementioned platform is going to be used in order to develop asset management in Switzerland as strategic industry. As a result, the Swiss financial centre shall become diversified, as already existing guidelines of business will be re-introduced and industries that are receding shall be compensated for. Also, for the private client business and customer-focused investment banking, asset management is going to turn into a full-scale supporting pillar of the financial centre and Swiss economy as whole.
Swiss banks As of beginning of year 2008, on the territory of Switzerland there are 327 incorporated and authorized banks and securities dealers. Companies on this list widely range and include the Two Big Banks as well as numerous smaller banks. Click here to view our Swiss banks catalogue.
The Logistics Performance Index of Singapore is 4. It indicates good performance - the logistics system is well prepared and organized, shipments mostly arrive on time and suffer no damage, and the infrastructure is ready to handle even unpredictably large volumes of traffic for as long as there is is not overwhelming.
Customs performance is rated at 4.01. This indicates good performance - customs clearance is fast and effective, in some cases it may not exist at all (e.g. at the borders of the Schengen area), which encourages international business activity; The required documents and fees are predictable and publicly available and in some cases (mainly related to visas) can be arranged at the customs office.
The infrastructure quality in Singapore is rated at 4.28. It indicates good quality - roads, railways, ports and other facilities are adapted and regularly maintained to be able to handle high traffic at all times, and most likely there are special facilities to deal with high-intensity and/or special traffic or vehicles ( e.g. highways a.k.a. freeways and deep-water ports).
International broadcast quality is 3.7. It indicates satisfactory performance - the services are reasonable and the prices are not too high and usually correspond exactly to the quality, although there is still room for improvement.
The competence of logistics service providers is rated at 3.97. The providers are very competent – they always ensure high quality of shipments and traffic management, work quickly and reliably; Any errors that may occur are readily compensated.
Tracking options for shipments are rated at 3.9. This indicates good performance – the tracking systems provide detailed and up-to-date information about most shipment parameters, often crossing national barriers (both political and linguistic) and can be qualified as international tracking systems.
Tracking options for shipments are rated at 4.25. This indicates good performance - shipments almost always arrive within scheduled time frames and often faster than expected.
In Singapore, 100% of the population has access to electricity. Singapore has 9 airports nationwide. There are 1,960,000 internet hosts in Singapore. The number of road motor vehicles per 1000 population in Singapore is 364.
Road network The total road length in Singapore is 3,425 km (2,129 miles). Of these, 163 km (101 miles) of roads are classified as freeways, dual carriageways, or freeways.
Gas price On average, a liter of petrol costs USD 1.58 in Singapore. A liter of diesel would cost $0.85.
Every year over USD 1 trillion is distributed worldwide in the form of foreign direct investment. Investments by foreign investors and entrepreneurs are of significant value to the country and are seen as a sign of a healthy economic, political and legal environment. When it comes to investing your money, some countries are just better than others. It depends on numerous factors such as the country's overall economy and growth prospects, political stability, taxation and the overall legal system, the complexity of starting a business, opening an account and the workforce.
In this article, we summarize three jurisdictions in terms of benefits and other features crucial to foreign investors. These countries have already proven their ability to attract multinationals and other investments, but when it comes to choosing the right place to invest, each country is different and might be better than others in one or more factors.
Singapore The first country to be analyzed is Singapore, which ranks 2nd among the best countries for investment and 15th among the best countries in the world in the US News Best Countries Ranking developed in cooperation with its international partners .
Located in Southeast Asia, Singapore is a bustling metropolis and home to one of the busiest ports in the world. As one of Asia's four economic tigers, the country has experienced impressive growth in recent years thanks to efficient production and manufacturing processes and innovations in the pharmaceutical and electronics industries. High GDP per capita and low unemployment make Singapore one of the wealthiest countries in the world.
Due to its impressive growth and increasing immigration, Singapore attracts the best professionals to its workforce. The country offers cultural diversity and, with four official languages, is an important gateway for international trade. The corporate tax rate is 17%, but it can be lowered by taking advantage of numerous government subsidies, incentives, and other programs. Singapore's legal system is known for its integrity, efficiency and fairness, making the country better than many as a place to start and operate a business. The World Bank Group has recognized Singapore's political and regulatory environment as the most business-friendly in the world. Other factors: Least Corrupt Country in Asia; Best IP protection in Asia; Most popular country for arbitration in Asia.
United Arab Emirates The United Arab Emirates or UAE is listed as the 22nd best country in the world and is not mentioned among the best countries for investment according to the above ranking.
Before the discovery of oil in the mid-20th century, the UAE's economy was mainly based on fishing and the pearling industry. The country experienced rapid growth and general transformation along with the start of oil exports in the 1960s. Today the country's GDP can be compared to that of leading European countries and the World Economic Forum has named the UAE the most competitive place in the Arab world.
When incorporating a company in the United Arab Emirates, foreign investors can choose between offshore or onshore registration, whichever is more suitable for the type of company and the activities planned. Onshore registration means that the investor establishes a business presence on the UAE mainland. Offshore registration usually refers to a business presence in one of the UAE's free trade zones. The UAE does not levy corporate income tax at the federal level. However, most Emirates have some corporate income taxation and can even reach 55% for certain industries. In practice, corporate income tax is mainly levied on gas and oil companies and branches of foreign banks. Other factors: The UAE is among the most liberal places in the Gulf with a legal system that allows freedom of religion; No sales tax or VAT but with plans to introduce it in the future; In addition to traditional banking, Islamic (or Sharia-compliant) banking has seen tremendous growth in recent times.
Hong Kong Hong Kong is a special administrative region of China. While Hong Kong is often considered a separate entity from China, it is not a country and therefore appears under the name of China in all lists and rankings. China ranks 26th among the best countries to invest in and 20th among the best countries in general.
Hong Kong's legal system is characterized by strict adherence to principles and the rule of law. It operates a free trade economic system and encourages minimal government intervention in most areas of the economy. This reflects the low number of tariffs and tariffs on traded goods, making it a better place to invest than other parts of China. Foreign investment is attracted by promoting a favorable investment climate with low taxes, few restrictions and additional incentives to encourage investment. The corporate tax rate is 16.5% with the option to waive 75% of the tax. No tax is levied on dividends. Company formation is a simple and quick process. All applications for company formation also include an application for the commercial register. The application can be submitted online and typically takes an hour to process (as opposed to four days if the application is submitted on paper).