Singapore is fast becoming the target of future business and foreign investments due to its growing economies. Its incredible and speedy climb to becoming one of South-East Asia’s corporate mecca relies heavily on its ability to attract foreign investments and nurture local businesses to profitable fruition.
Advantages of Registering a Singapore Company
1) Fast, Simple and Cost Effective Registration
Company name enrollment is conducted with ACRA (Accounting and Company Regulation Authority) which can approve (or reject) company names in only one hour. If all the necessary forms and documentations are ready according to the prerequisites, the registration process only takes about a few hours to finish. Whole foreign ownership is permitted as well as the minimum paid up capital is only S$1.00. Plus, only one director and investor is essential, also it can be the same individual. If you want to do more inquiries regarding forming a company in Singapore check out helpful websites online.
2) Generous Tax Exemptions
Gains made outside of Singapore enjoy legal tax exemption because of its international treaties (with almost 60 countries), hence local businesses avoid double taxation. New businesses are exempted for the very first three years’ worth of capital gains, after which rates begin to differ from 8.5% (for earnings from S$100,001 to S$300,000) to 17% (S$300,001 and above
3) Strategic Place and World-Class Infrastructure
Situated in the crosshair of the international trading paths in the world’s, the island republic is also one of the quickest developing countries for finance, business and banking, consequently the reason why numerous multinational companies congregate here to be at the vanguard of international business. To set up a company in Singapore means to have access to a world-class infrastructure of an innovative telecommunications network, cutting-edge technology, extensive transportation hubs and other first-class comforts.