Why is Dyson Head Office being re-located to Singapore?

[ocset]

Is it being Sold to a Far Eastern Buyer?

Which other Global companies have their head office in a country where they are not domiciled?
I dont think any.

Surely, selling is the only reason for this move?

https://www.bbc.co.uk/news/business-46962093

Do any of the folllowing companies have a head office "overseas" from the home country?...BMW, Mercedes, Panasoni, LG, GE, Ford...etc etc.....
It looks to me as if Dyson is getting sold.
How can this be allowed?
I bet if BMW owner tried to sell BMW out of Germany , they would be stopped, ditto any other global company.

[floobydust]

Asia is "pro-business" compared to the UK or Canada, for example. I'm talking about taxes, engineering talent, financing etc.

I think the move is to develop autonomous electric cars- although Singapore does not manufacture cars.
Set up shop where you are supported and don't have a wishy-wash government constipated with their Brexit strategy.

"Dyson supported Britain’s campaign to leave the European Union, citing labor laws which he said force him to hire engineers from the trading bloc instead of better qualified equivalents from, for example, Asia."
"Dyson has also made his irritation with British corporate governance rules known before. Last year, he complained about the U.K. requirement that closely held companies file publicly available accounts – a regulation that hands an advantage to overseas rivals, he told the Financial Times in an interview."

[Wolfgang]

... maybe I am too conservative, but I dislike all Dyson stuff. The worst and unhygienic hand dryer on the planet, vacuum cleaners that look like they can fly to the moon but are weak like hell, all kinds of design gadgets but no Frank LLoyd Wright (form follows function).

[rstofer]

Since Dyson is only moving 2 company officers, this has to be done to ensure market access to the EU after Brexit - regardless of what the company says.  Dyson says no but there might be some tax advantages,

Additionally, I would rather work in SIngapore than London any day of the week.  I lived there for a while and I love the place!

[SiliconWizard]

I bet if BMW owner tried to sell BMW out of Germany , they would be stopped, ditto any other global company.

Oh really? I'm not sure your eyes are really open then.
Do you remember what happened to Jaguar maybe? Would you say it was better or worse than it would be if Dyson was sold? Seriously?

Just a recent example:
https://www.dw.com/en/berlin-approves-kuka-sale-to-midea/a-19479483

Foreign investors have been buying european companies at an impressive rate. Even strategic companies. China and the US come first, but they are not the only ones either.

[CJay]

1. Tax reasons possibly although Singapore isn't much lower than the UK, the UK loses out because Dyson's tax won't be paid here.

2. (the most important) Continued, tariff free access to the EU markets, it's absolutely no coincidence that they're moving there shortly after Singapore signed an EU trade deal.

Dyson is a weapons grade, brexit elite hypocrite.

[raptor1956]

Companies go where the cost is lower and if there's an increased market potential to sell there -- this is a paradigm that's been in vogue for 50 years or more and since the 1990's has taken off as trade deals make it ever more desirable to abandon one country for another. 

Just what exactly Dyson is up to I don't know, but there's little reason to doubt the factors mentioned are the main reasons. 

Up through the mid 70's the workers earned a share of the productivity gains that have been ongoing since the start of the industrial revolution.  By the mid 70's, however, that deal was broken and the working class wages flatlined at that point and have remained flat to down ever since.

https://commons.wikimedia.org/wiki/File:US_productivity_and_real_wages.jpg

The economic era we live in is defined by the power that capital (wealth) has to shape policy in there favor.  At it's simplest, if the leisure class can move production to places with cheaper labor and less investment in workplace safety and environmental controls the products and services sold will be less expensive and a greater share of the sale value is given to them -- the leisure class.  Sometimes the move is not to the absolutely least expensive place but to somewhere in between -- somewhere where there's sufficient talent at a lower total cost. 


Brian

[ocset]

Thanks All,
Its strange though, that there are no other examples of  other companies moving their "head office" to a different country than the country of origin/domicile.

I mean Nissan has a factory in Sunderland, but Nissan head office didnt move to sunderland....the Nissan head office is still in Japan.

(as you know im not knocking dyson, i like the "stick" vacuum cleaner, and the "dunk-'em-once hand dryer....my workplace had some dyson "sticks", and i abused one badly one evening as a test for it...but it passed my "test" with flying colors.)

[Towger]

Simply but Brexit. James compained for it, but there are more unexpected side effects.   

For example, I was informed today that in the event of a hard Brexit companies operating here, but with an parent company incorporated in the UK will no longer be able to operate here.  To continue in business they will need to incorporate new a company within the EU and effectively re-employee the staff within the new parent or a local sub company of it.  This is a huge paper pushing exercise, which would normally take many months/years of legal planning...

[cdev]

"Future proofing" was what he said.

It looks to me as if Dyson is getting sold.
How can this be allowed?
I bet if BMW owner tried to sell BMW out of Germany , they would be stopped, ditto any other global company.

It doesn't work like that. Owners are given a lot of latitude to do whatever they want.

[coppice]

Dyson has been moving step by step to Singapore for years. Now, with their electric car activities committed to being entirely in Singapore, it make sense for them to move their HQ there and abandon the UK entirely over the next few years.

[cdev]

I really doubt if they would 'abandon' the UK.

Dyson has been moving step by step to Singapore for years. Now, with their electric car activities committed to being entirely in Singapore, it make sense for them to move their HQ there and abandon the UK entirely over the next few years.

[coppice]

I really doubt if they would 'abandon' the UK.

Dyson has been moving step by step to Singapore for years. Now, with their electric car activities committed to being entirely in Singapore, it make sense for them to move their HQ there and abandon the UK entirely over the next few years.

Why not? What useful purpose does the UK serve them now? Despite campaigning for brexit, Dyson himself has clearly never had any commitment to the UK.

[cdev]

"Disneyland with the death penalty" (popular nickname for Singapore)

If Dyson was born and grew up in the UK, it's his homeland, doesn't that count for something?

[tooki]

Thanks All,
Its strange though, that there are no other examples of  other companies moving their "head office" to a different country than the country of origin/domicile.

Oh, sweet, naïve treez...

Moving the company’s “headquarters” to a tax shelter is an extremely common thing. Hundreds of companies are “headquartered” in Zug, Switzerland alone with nothing more than a mailbox, so as to reduce taxes. A great example of this is Walgreens (the Boots pharmacy of USA). There’s never been a Walgreens in Switzerland and likely never will be. But their tax home is in Zug.

There are entire economies based on being tax shelters (like the Cayman Islands).

And that’s just tax shelters. Companies do occasionally move to a different country altogether, especially very large companies that are really on the verge of becoming multinational.

[Electro Detective]

... maybe I am too conservative, but I dislike all Dyson stuff. The worst and unhygienic hand dryer on the planet,

vacuum cleaners that look like they can fly to the moon but are weak like hell,

all kinds of design gadgets but no Frank LLoyd Wright (form follows function).

LOL    They look and work great out of the box, but once that honeymoon period is over... and the credit card statement arrives 

they work as well as any other brand or knockoff at a fraction of the price,

and need maintenance like any vacuum cleaner does

to restore performance, and oust all the smelly hidden nasties pasted to the insides


Another overpriced marketing wank product, now owned by Audiophool Products Inc. OHL Division perhaps ? 

[CJay]

If Dyson was born and grew up in the UK, it's his homeland, doesn't that count for something?

No.

Next question?

Oh, and today, Airbus, the huge EU aircraft manufacturer, has announced that in the event of a no deal exit, they're likely to relocate to an EU country.

I can't make my mind up if 'leave' is more tax evasion, disaster capitalism or foreign power influence, it's definitely a combination of all three, I just can't decide the percentages.

[Alex Eisenhut]

LOL    They look and work great out of the box, but once that honeymoon period is over... and the credit card statement arrives 

they work as well as any other brand or knockoff at a fraction of the price,

and need maintenance like any vacuum cleaner does

to restore performance, and oust all the smelly hidden nasties pasted to the insides

I have the cheap and cheerful Dirt Devil 24V Reach Max. A bit plasticky but works well. Of course I live in a shoebox with only one floor, not a house. So it's enough. Once a week I take the container apart and clean it all with water. Once dried it works like new again. No new filter needed after one year.

[Gromitt]

The most Swedish of Swedish companies, IKEA, have it's head office in the Netherlands. In Leiden to be precise.

[all_repair]

Primary reason is China market, yet do not want to have the development done in China.  Secondly the other Asian markets as other Asians are getting rich fast and right for Dyson.  Singapore is a very small market, but she has the most free trade deal with many countries and many regional block.  The logistic and distribution infrastructufe is probably one of the best in the world.  Many MNCs like to employ Singaporean as their auditors to check their factories and operation in the Asian regions and beyond, and also Singaporean plant manager to safeguard  their design blueprint in the safe. 

[coppice]

Primary reason is China market, yet do not want to have the development done in China.  Secondly the other Asian markets as other Asians are getting rich fast and right for Dyson.  Singapore is a very small market, but she has the most free trade deal with many countries and many regional block.  The logistic and distribution infrastructufe is probably one of the best in the world.  Many MNCs like to employ Singaporean as their auditors to check their factories and operation in the Asian regions and beyond, and also Singaporean plant manager to safeguard  their design blueprint in the safe.

On the other hand, a huge amount of manufacturing has moved out of Singapore, because costs are too high there. Putting development in Singapore makes a lot of sense. However, Dyson is putting a large manufacturing site there.

[cdev]

If Dyson was born and grew up in the UK, it's his homeland, doesn't that count for something?

No.

Next question?

Oh, and today, Airbus, the huge EU aircraft manufacturer, has announced that in the event of a no deal exit, they're likely to relocate to an EU country.

A riddle.. not about Dyson, about Brexit.

Often described as 'everything that can't be dropped on your foot' I am an entanglement of sectors a tiny bit more than 23 years old, described by two four letter acronyms. To leave me one must pay dearly, and to join me one must pay dearly also. I privatize everything.

[cs.dk]

Not only Dyson moves, it seems like Sony follows;
Sony Europe moves legal base out of UK because of Brexit

[Electro Detective]

Seriously folks, should we really lose any siesta time    about where the curvy design, overpriced, land fill bound, unserviceable  products   -BRAND X-  'bean counter HQ offices' are based? 

China, EU, Moon, Mars, Mos Eisley, Alpha Centauri, Romulus     ...makes no difference

it's just an office with some laptops, coffee maker, faux leather Chesterfields,
and refurbished Xerox machine for Xmas parties   


I doubt most EEVblog-ites would waste their attention on most of this bin bound product anyway

...unless it's a dumpster or nature strip 'acquisition' at the right price   

[Electro Detective]

Fair enough mate, since we are on a frankness vibe, I too had morbid arachnophobia,
till one day a quarter pounder spider was on my pillow at wake time, staring me down   

i.e. as you know it's > FREAK OUT CITY !!! 

What did I do?

I thought about it for a second... and panic flicked it off the pillow with my middle finger (cigarette binning experience) and it landed into a corner

I got up feeling wacked out, and thought about it some more... then I got a plastic wall wart package that has the sliding cardboard thing,

captured the spider, and what to do ?   

Instead of sending it to Arachnid HELL, I decided to drop it on a lemon tree,
reasoning was to hopefully it build a web and sort out any nasties like ants, caterpillars, wasps etc which were a REAL problem


Thought about it some more over time and realised... hey "morbid arachnophobia" GONE ! 

Since then a LOT of spiders have been captured roaming about with the same method described,
and put to good use in the back yard.

They rarely return btw, and if they do (unlikely) they go back asap

Their offspring can appear occasionally looking for a base of operations in a corner somewhere,

same deal for them too


Hope that helps, and FWIW most vacs in a maintained state can do what a Dyson can do

Just wait till a Dyson gets blocked up badly by hair,

you have to dissect the head unit completely

and have a selection of pickey type tools to do the job properly 


20 minute job on a good day...if the hair balls have not welded to the plastic...