Singapore is regarded as a global city because it continues to be a favorite tourist, employment and most especially, business location. Even more significantly, Singapore has gained a good reputation as a pro-business country worldwide. With this, Singapore was awarded as the leading country in 2010 World Banks Doing Business Report by Worlds Easiest to Do Business.
Now, we will answer the question, Why Start a Singapore Company? You will discover that there are three major reasons stating why foreign individuals and investors should invest or start a Singapore Company. These reasons include the ease of doing business in Singapore, from the comfort of registration to the less formalities of actual operation, favorable Singapore tax laws, tax benefits and exemptions and the high quality of living available in Singapore.
Moreover, Singapore provides a friendly corporate tax law. It follows a territorial system of taxation and employs a single-tier tax system. The tax system of Singapore is very convincing and favorable due to the low taxes, tax incentives and tax exemptions. New companies can usually make the most of tax exemptions.
For foreigners, three business structures were outlined. These are the subsidiary office, branch office and representative office. Whichever format is chosen, foreign businessmen are assured of the full support coming from Singapores government in working towards business success.
In addition, Singapore company incorporation could possibly be completed inside the day’s time with minimal formalities. Singapore’s immigration policy is open and generous in managing transfer of foreign company owners and foreign professional staff.
Lastly, after having a good overview on what Singapore can offer you, you can proceed with being knowledgeable on the requirements for Singapore company incorporation, being aware on important considerations before incorporation, hiring the services of a business registration firm and identifying what type of work visa is needed.
Note that these are just preliminary information for you to take note. If you have concerns, inquiries and doubts in the procedure, you should immediately communicate or seek assistance from an authorized business registration firm.
Rikvin has successfully helped hundreds of both foreign and local entrepreneurs form a Singapore company. The firm provides a complete corporate solution under one roof for which includes assistance to Start a Singapore Company, with the opening of corporate accounts, business registration including accounting, tax, immigration related to work passes visa and compliance services in Singapore.