Doing Business - Singapore vs Canada

In this article, we discuss the differences in key factors of doing business in Singapore and Canada.

Business Environment

Singapore is ranked 2nd easiest place to do business place by the World Bank and Canada is ranked 23rd.

 

Here are some of the key factors in which each country was ranked:

  
Economy
globalRank
Rank within group
Starting a business
Dealing with construction permits
Getting electricity
Registering property
Getting credit
Protecting minority investors
Paying taxes
Trading across borders
Singapore
2
2
4
5
19
21
37
3
7
47
Canada
23
23
3
64
124
36
15
7
19
51

Taxes

Individuals resident in Singapore are taxed on a progressive resident tax rate as listed below. Filing of personal tax return for tax resident is mandatory if your annual income is S$20,000 or more.

For more information on Singapore taxes, refer here.

Individuals resident in Canada are taxed on a progressive resident tax rate as listed below. Filing of personal tax return for tax resident is mandatory for the first $49,020 and above.

Want to learn about the Singapore - Canada Tax Treaty?

Read our guide to learn more

read our guide now

IP Protection

Singapore is ranked 1st on the International Property Rights Index 2020, which measures the strength of a country's property rights regime, including both intellectual and physical property rights while Canada is ranked 2nd.

Openness to Trade

  • Based on The World Bank 2019 data, Singapore's openness to trade which is calculated via Trade openness: exports plus imports as percent of GDP,  Singapore is ranked 3rd in the world while Canada is ranked 99. 

Bureaucracy

  • Both Singapore and Canada are viewed as clean countries with a low degree of corruption by the Transparency International in its Corruptions Perceptions Index 2018 report. Singapore places at 3rd position and Canada places at 9th.

Labor force

  • The labour market in Singapore and Canada are equally competitive and here are some of the key indices being measured in The Global Competitiveness Report 2018.
 (Ranking based out of 140 countries)  Singapore  Canada
Digital skills among population  6  18 
Cooperation in labour-employer relations  2  17 
Ease of hiring foreign labour  97  81
Pay and productivity  3  8
Labour tax rate  75  50

At-a-glance Country Rankings: Singapore and Canada

 Year  Category  Singapore's rank  Canada's rank  Source
 2018 Ease of doing business   2    22 World Bank, Ease of Doing Business Report
 2018 World's most competitive economy  2  12 World Economic Forum, Global Competitiveness Report
 2016 Country most open to trade  1  24 World Economic Forum, Global Enabling Trade Report
 2018 Country with least corruption perception  3  9 Transparency International's Corruption Perceptions Index
 2019 Cities with the best quality of living  25  3
(Vancouver)
Mercer's Quality of Living Report

Company Registration

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  • 10+ Years experience in Singapore
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