The Asia pacific has been receiving vested interests from capitalists over the last few years. In 2014 alone, some $38.9 billion was used in business startups and projects in Asian cities up from only $9 billion in 2013. Asia attracts investors who want to start businesses and companies for various obvious reasons like the large talent pool (thanks to graduate schools like University of Hong Kong and Bangalore Indian Institute of Science). However, some countries in particular make the best choices for company incorporation in Asia. Here is a brief description of the best countries you can start your company in Asia:
There is no doubt that Singapore is the best country to start a company in the Asia pacific. The state was recently accredited as the best startup ecosystem in the region and has about 3,600 active startups. The country continues to flourish in areas of gaming, ecommerce and social media. They were ranked the 10th best place to start a company in the whole world up from 17th in 2012 overtaking China. It is also one of the best places to become a millionaire. Singapore is located in between the India-China seaway giving it a wide potential for market. Almost half (49%) of the consumers of startups live abroad. What’s more, a recent survey revealed that 9 out of 10 Singaporeans have access to a smartphone giving it one of the highest mobile penetrations. It is easy to understand why they host major US companies (Facebook, Google, and Uber) headquarters in ASIA. Find out more how you can start your business in Singapore with Director Plus Incorporation Services. The folks there will be able to aid you in any business formation queries and will be able to get your business started within 2-hours.
2. India (Bangalore City)
Bangalore, India is one of the best places for company incorporation and boasts over 4,900 business startups and VC investments worth $2.3 billion. With its multibillion dollar company Flipkart that has been around since 2007 and rose to a $15 billion value, Bangalore has been said to be the better version of Silicon Valley. It has a flowing mix of cultures, concentration of people and easy access to information. India is expected to have around 500 million internet users by 2017 which is set to be one of the largest internet penetrations in the world. Bangalore and surrounding regions have many incubators and favorable startup co-working environments. Although about 22% of India’s population earns less than $1.25 a day, the thriving technology culture is likely to revolutionize living standards and make it perfect for business expansion.
3. China (Hong Kong)
China has maintained their progress over several years and continues to be one of the best places where you can start a company in Asia. Hong Kong in particular has roughly 2000 early and late business startups and their close proximity to the mainland offers competitive edge. Hong Kong’s incubators like the Science & Technology Parks-and-Cyberport also add to the potential to progress your business within the area. For a town that accounts for 0.47% of global GDP, and with 52 different technology companies, it is one of the best places to start your companies if you want to compete with the top market leaders. Nonetheless, investors are wary of spending in the tech market since there have been none exists which significantly raises the level of competition.
4. Malaysia (Kuala Lampur)
Kuala Lampur of Malaysia is another runner up as one of the ideal places to start a business. Although it has a population of just below 2 million, this small city boasts close proximity to the Southeast Asia market making it perfect for starting a company. You will effortlessly have overseas startup consumers and their supportive government makes it easy to operate a startup in the region. It is a good place to start regional business and the creation of MaGIC by Malaysian prime minister in 2013 resulted in the biggest startup success story in the Asian pacific to date. Employing foreign talent is also easier from a rules and regulations perspective as the country has favorable provisions when compared to others.
There are various other places you can consider when looking to start companies in Asia. South Korea, Taiwan, Thailand and Japan come close in the list and all offer perfect environments for startups as they harbor large talent pools and immediate startup consumer markets. It all depends on the type of company you want to establish. The tech market is currently the way to go although several other startup directions exist if you have what it takes to establish, run and expand a business.