Why it is a good idea to incorporate your company in Singapore


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Why it is a good idea to incorporate your company in Singapore Singapore is truly a utopia for doing business"- a common statement shared by every entrepreneur and investor who have had hands-on experience in company incorporation in Singapore. For last few decades this island nation has been attracting millions of global business entrepreneurs and investors every year. As a result the economy of the nation is progressively booming and growing. The stable political condition combined with booming economy Singapore certainly provides a thriving land for both SMEs and MNCs. A set of liberal business policies such as company incorporation Singapore policy pro-business taxation regime open immigration policies have added to the charm of the nations business landscape. Would you like to incorporate a company in Singapore You have landed on this right page as this article will outline the various advantages of Singapore Business incorporation. Business Potentiality for the Start-ups is high The business policies of Singapore are not only designed for large and established corporate but the government has shown a soft corner for the new start-up companies. The taxation system has been implemented with an aim to provide legitimate support to the start-up companies which is a key benefit of Singapore company incorporation. There are dozens of funding assistance for the start-ups from the government which will lay strong financial base for the companies. Business Hub of South East Asia Located at the junction of international trade routes in the heart of Asia Singapore is a perfect location for business investments. Renowned as the worlds best airport Singapores Changi Airport has the good connectivity of flights with the all major cities of the world. Moreover Singapore is the worlds busiest port. Its strategic location has contributed to the influx of business investors to the nation. Values of Entrepreneurs are high The warm approach of Singapore towards the foreign nationals is admirable. Both foreign and domestic investors are treated equally. The provisions of work visa are transparent and

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pro-business especially the EntrePass scheme. An EntrePass holder is eligible to apply for permanent resident in due course and can bring his family through dependants pass. Progressive Tax Structure One of the most advantageous parts of company incorporation in Singapore is its progressive taxation system. The tax structure comes with some pro-business features like tax exemption schemes incentive benefits low corporate tax and GST and so on. The headline corporate tax rate is capped at just 17 and current GST is only 7. Under full tax exemption scheme a start-up company with annual revenue of S100000 is exempted from paying tax for the first three years certain prerequisite conditions apply. Additionally companies are liable to pay tax only once on its annual taxable income and dividends are tax-free. Capital gain tax is absent. The presence of Avoidance of Double Taxation Agreements DTAs with more than 75 countries helps the businesses to avoid double taxation. Singapore Company Registration Process is Easy and Quick Unlike some other jurisdictions where policies are complex and tough to comprehend the policies of Singapore company incorporation are liberal and easy to fulfil. Singapores Company Act Cap 50 regulates the companys laws and policies. The process is straightforward fuss-free and quick. Companys name is approved by ACRA in a very short period as long as the application is in order. Rest of the process is also done with ease provided requirements are fulfilled as per the regulations of ACRA. Given the advantages of the company incorporation in Singapore more and more entrepreneur enthusiasts from all across the globe are wishing to make their presence felt in the city-state by setting up their own business.