Last week, I left you with this:

As Dubai stands today, it is the ultimate dream for people in their twenties.

Singapore, possibly, is everyone’s dream in their thirties.

Now, if you’re anything like me and you’re drifting further away from your twenties daily…

Then today’s spotlight on Singapore might be of interest!

So here’s Dubai vs Singapore pt. 2 (my personal take)

What’s my connection to Singapore?

I frequently visit Singapore as I have businesses and business partners there.

Additionally, Singapore periodically hosts some of the best events and is a great place for networking.

Very different vibe though to Dubai (we’ll get into this later).

I remember two things clearly from my first trip:

The heat and the best ramen I had eaten up to that point in my life.

What brought me there in the first place?

Initially, I visited Singapore by coincidence.

One of my early investors was based there, and I traveled specifically for a visit and fundraising.

Since then, for various reasons and specific events, all roads led to Singapore many times over.

When did I incorporate there? Why?

More recently, I incorporated in Singapore because it’s the most efficient jurisdiction, combining VC-friendly policies, ease of management, reasonable taxation, and maintenance costs.

Most importantly in my case, my business partners were already there so this of course influenced my choice.

But now, for some of the reasons covered below, I do believe Singapore could very well be THE place to set up for the future.

Let's dive in.

What are some key (potentially hidden) aspects of Singapore?

1. Is it THE business paradise?

It is world #2 for ease of business for a reason.

This also comes with excellent tax benefits such as 0% capital gains tax and 0% tax on foreign-sourced income.

Quick Tip: Sleek and Osome are leading service providers for incorporating in Singapore online and managing accountancy.

(Not paid promotion, purely direct experience)

They can act as your one-stop shop for all that you need including bank account opening.

Singapore is also not on the blacklist of multiple countries and so Wise or Revolut works fine.

There are also plenty of offerings for other banking and crypto-to-fiat on and off ramp.

In many ways, it could be seen as perfect. But…

It is EXTREMELY hot year-round.

(A factor for me personally – it's not quite paradise...)

2. Understated wealth is common here

For many, the understated wealth culture of Singapore could be an unignorable huge plus.

Dubai is certainly efficient logistically and better for taxation.

Unlike Dubai, wealth is often understated – you might pass a billionaire on the street and never know it.

(Occasionally there’s a bit of Dubai…)

But don’t be shocked to see incredibly wealthy individuals walking around in flip-flops and casual attire.

In your 20s, this may not be a huge factor, could even be a negative.

But later on or if you’re thinking more long-term, it may provide the best balance of everything.

3. The Singaporean Spirit is unique

Singaporeans excel in many areas, including complaining, as one local put it.

Sometimes, you’ll hear them being critical about their own system and government.

This often leaves visitors baffled, especially given Singapore’s reputation for efficiency and success.

But it gives an insight into the meritocratic society and constant drive for improvement.

It’s not hard to see why Singapore has come so far in such little time and it's an amazing spirit to be around.

4. Many of the best spots in Singapore are underrated

Chinatown is often overlooked by tourists, but it’s a must-visit destination.

The first time I went to Singapore, I didn't understand why private equity funds have offices in Chinatown, an area that is truly Asian and not particularly posh or flashy.

I understood it later: it's authentic, cool, and in the middle of everything.

Beyond the touristy shops, hidden alleys are filled with authentic local eateries, traditional medicine shops, and vibrant street art.

Don’t miss out on the bustling night market or the chance to try some delicious local delicacies.

And places like Sentosa Island are very special and could represent the dream of many people.

Possibly a villa in Sentosa is a family-oriented equivalent of Palm Beach.

These references are simplifications, of course.

5. The food!!!

This is not so hidden…but still worth a mention.

Food is incredible here.

Hawker Centers are a must-visit. You can’t leave Singapore without experiencing the famous food courts.

Usually, you might think twice before going to places like these due to health concerns, but that's not the case for Singapore: cleanliness is a priority.

Quick pro tip:

Don’t go there well-dressed; again…it’s hot!

These open-air venues can get pretty steamy, but trust me, it’s worth it.

You’ll have the best Asian food of your life for just a few dollars – from char kway teow to laksa, the options are endless.

6. Hidden Nature Spots abound in Singapore

There’s a reason why Singapore is known as “Garden City.”

But the city-state has some amazing hidden natural areas.

Check out the Sungei Buloh Wetland Reserve or the lesser-known Coney Island for a taste of wild Singapore.
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7. Special Economic Zone with Johor not to be underestimated

There could be developments, and territories on the Malaysian side could become the next hot spot.

A major Johor-Singapore Special Economic Zone (SEZ) is taking shape, following an MoU signed between the two governments in January 2024.

The details are still being finalized, but it's poised to be a game-changer.

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In Singapore, people come and go.

But many see this city as the long term residency for themselves and family and are setting themselves up accordingly.

Ironically, the place that has changed so fast in 30-40 years now seems more stable compared to western countries with hundreds of years of history.

And yet, there is still much evolution still going on.

My reading of the macro that I will touch on in the coming weeks is that major frictions and changes could occur in the next few years in the West: looking at the recent US election, taxation approaches of Northern Europe countries, etc.

And returning to the topic at hand, there will also be many changes in Dubai as well – the perks that we see now will probably not be that way forever.

Therefore places like Singapore could become solid guarantees of stability in tumultuous times.

Neither Dubai nor Singapore are necessarily “under the radar,” but some of the considerations surrounding them might be.

I hope this mini series provided you with some clarity and new information!

There are many options out there but often the right information isn't easily accessible.

I'll be doing constant breakdowns and updates to make sure you have the most up-to-date information around.

So stay tuned!

If you are considering either Dubai or Singapore and have any questions, please don’t hesitate to reply and ask away – I love hearing from you all!

In the meantime, hoping you have a splendid Sunday!

Ciao for now,

Ale