Which Asian countries are considered the best for starting a business and living?

Published 08.09.2023 · Updated 08.09.2023

The modern world offers a huge number of opportunities for business development and ensuring a comfortable life. Asia, being one of the most dynamically developing regions on the planet, offers many countries that are considered the best for business and living. In this article, we will look at five such countries: Singapore, Japan, South Korea, Hong Kong, and Taiwan (Republic of China).

The best countries in Asia for starting a business and living

Singapore

Singapore is one of the most developed and modern countries in Asia, and it is also considered one of the best for business and quality of life. This city-state offers a favorable and stable economic environment, low taxes, and no corruption. It is also home to many well-known international companies such as Singapore Airlines, DBS Bank, and Singapore Exchange (Singapore Stock Exchange is one of the largest in Asia).

Due to its geographical location, Singapore is one of the world’s largest financial centers and a global transportation hub. It is also known for its innovations and advanced technologies in the business field.

Average net salary = $4920/month
Rent for a one-bedroom apartment in the city center = $3260/month
Rent for a one-bedroom apartment outside the city center = $2190/month

Japan

Japan is one of the largest and most developed economies in the world. This country is known for its advanced technologies, innovations, and high standard of living. Many international companies such as Toyota, Sony, Honda, and Nintendo are based in Japan. Additionally, Japan has a developed healthcare system, high level of safety, and a culturally rich environment for living.

Japan is also famous for its business customs, formality, and precision. This makes it an attractive country for entrepreneurs and businessmen who value clarity and quality.

Average net salary = $2210/month
Rent for a one-bedroom apartment in the city center = $610/month
Rent for a one-bedroom apartment outside the city center = $400/month

South Korea:

South Korea is a country that demonstrates a high level of economic growth and innovation. It is one of the most developed countries in Asia. Information technology and telecommunications are particularly well-developed in this country.

South Korea is also known for its major corporations such as Samsung, LG, and Hyundai, which have international recognition and invest significant resources in scientific research and development. Additionally, the country offers a favorable business climate and a high degree of competitiveness.

Average monthly net salary = $2420
Rent for a one-bedroom apartment in the city center = $500 per month
Rent for a one-bedroom apartment outside the city center = $360 per month

Hong Kong:

Hong Kong is a special administrative region of China known for its high level of economic freedom and entrepreneurship. This city-state is a major financial center in Asia and one of the largest global financial centers. Companies such as HSBC, Cathay Pacific, and the Hong Kong Stock Exchange are based in Hong Kong. The Hong Kong Stock Exchange is considered the largest in the world.

Hong Kong offers low taxes, minimal bureaucracy, and a legal system based on English law. This makes it an attractive place for business and investment. Additionally, Hong Kong has developed infrastructure and a high standard of living.

Average monthly net salary = $3130
Rent for a one-bedroom apartment in the city center = $2315 per month
Rent for a one-bedroom apartment outside the city center = $1700 per month

Taiwan:

Taiwan is an island country known for its advanced technology and innovation. The island is famous for its strong semiconductor industry. Taiwanese company TSMC (Taiwan Semiconductor Manufacturing) produces and supplies semiconductors worldwide. Processors from this company are considered among the most advanced in the world. Their products are used in Apple smartphones, among other devices. In addition to TSMC, other well-known global companies such as ASUS, Acer, and Foxconn are based in Taiwan. Each of these companies is a global leader in its field.

Taiwan has a high standard of living, low taxes, and a business-friendly environment. It is also known for its highly skilled workforce and access to the world’s largest markets. Taiwan is an attractive place for business and investment.