Singapore Company Incorporation: Understand the Advantagesby Sneha Patil Top Singapore Company Registration Company
Singaporean authorities have come up with policies to attract entrepreneurs for the Singapore company incorporation. With it comes the innovative business ideas, models & foreign investment.
Singapore is truly a utopia for doing business”- a common statement shared by every entrepreneur and investor who have had hands-on experience in Singapore company incorporation. 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 easy company incorporation policy, pro-business taxation regime, open immigration policies, have added to the charm of the nation's business landscape.
Do you want 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 Startups 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 startup companies. The taxation system has been implemented with an aim to provide legitimate support to the startup companies, which is a key benefit of Singapore company incorporation. There are dozens of funding assistance for the startups 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 world’s best airport, Singapore's Changi Airport has the good connectivity of flights with the all major cities of the world. Moreover, Singapore is the world's busiest port. Its strategic location has contributed to the influx of business investors to the nation.
Also Read: singapore company registration Guide
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 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 dependant’s pass.
Progressive Tax Structure
One of the most advantageous parts of Singapore business incorporation 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 S$100,000 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 fulfill. Singapore’s Company Act (Cap 50) regulates the company’s laws and policies. The process is straightforward, fuss-free and quick. Company’s 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 Singapore company incorporation, 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.
About us/ bio:
SBS Consulting is a leading firm in Singapore that is highly renowned for its company incorporation services. One can avail a myriad of services about Incorporate company in Singapore incorporation under the single roof of the firm. It also deals with other allied services like accounting, bookkeeping, GST, XBRL filing, corporate secretarial services, etc.
SBS Consulting Pte Ltd
High Street Center,
#17-02, 1 North Bridge Road,
179094 - Singapore
Phone: +65-6536 0036
Created on Nov 1st 2017 23:07. Viewed 450 times.