Switzerland (Zug) or Singapore: where should you start a business?
Switzerland (Zug) ranks higher in the index, 06 against 07. Which suits you depends on where the owners live, what the company is for and how it will be run.
Pillar by pillar
Doing business, side by side
Tax
The combined 2026 corporate tax rate for Zug is 11.71%. Cantonal rates range from 11.66% in Lucerne to 20.54% in Bern, and VAT is charged at 8.1%.
A start-up exemption applies to the first S$200,000 of income for three years of assessment. Goods and services tax is charged at 9%.
Set-up
Zug registrations averaged under one working day in the first half of 2026, after the notarised deed. The register fee is CHF 420, plus the notary.
Registration costs S$315 in total and is usually approved within 15 minutes of payment. Share capital can be S$1, and the annual return costs S$60.
On the ground
At least one authorised representative must be domiciled in Switzerland. A GmbH needs CHF 20,000 of capital, an AG CHF 100,000, and there is no annual fee.
At least one director must be ordinarily resident in Singapore, and the company must appoint a company secretary within six months.
Ownership
The transparency register is not public. It is open to authorities, financial intermediaries and advisers, and began operating on 1 October 2026.
ACRA's central register of controllers is available only to law enforcement agencies, and members of the public cannot access it.
Residence
Permits for non-EU nationals are discretionary and subject to quotas. EU and EFTA nationals can obtain a permit for genuine self-employment.
The EntrePass is open to an applicant holding at least 30% of a venture-backed or innovative company, who must also meet one of five further criteria.
Living and working
Currency
Swiss franc.
Singapore dollar.
Time zone
UTC+1, or UTC+2 in summer.
UTC+8.
Personal tax
Federal tax reaches 11.5% from CHF 794,000 (single, 2026); the Zug base tariff tops out at 8%. Wealth and inheritance taxes apply.
Estate duty does not apply to deaths on or after 15 February 2008.
Flights
Zurich Airport had direct flights to 213 cities in 75 countries in 2025, with just under 32.6 million passengers.
Changi connects Singapore to over 170 cities (January 2026); Singapore Airlines takes about 13 hrs 45 mins to 14 hrs to London and 18 hrs 25 mins to New York.
Language
English, Malay, Mandarin and Tamil are official languages, and all court proceedings are conducted in English.
Switzerland (Zug) vs Singapore: common questions
Switzerland (Zug): The combined 2026 corporate tax rate for Zug is 11.71%. Cantonal rates range from 11.66% in Lucerne to 20.54% in Bern, and VAT is charged at 8.1%. Singapore: A start-up exemption applies to the first S$200,000 of income for three years of assessment. Goods and services tax is charged at 9%.
Switzerland (Zug): Zug registrations averaged under one working day in the first half of 2026, after the notarised deed. The register fee is CHF 420, plus the notary. Singapore: Registration costs S$315 in total and is usually approved within 15 minutes of payment. Share capital can be S$1, and the annual return costs S$60.
Switzerland (Zug): At least one authorised representative must be domiciled in Switzerland. A GmbH needs CHF 20,000 of capital, an AG CHF 100,000, and there is no annual fee. Singapore: At least one director must be ordinarily resident in Singapore, and the company must appoint a company secretary within six months.
Switzerland (Zug): The transparency register is not public. It is open to authorities, financial intermediaries and advisers, and began operating on 1 October 2026. Singapore: ACRA's central register of controllers is available only to law enforcement agencies, and members of the public cannot access it.
Switzerland (Zug): Permits for non-EU nationals are discretionary and subject to quotas. EU and EFTA nationals can obtain a permit for genuine self-employment. Singapore: The EntrePass is open to an applicant holding at least 30% of a venture-backed or innovative company, who must also meet one of five further criteria.
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