According to the Doing Business 2012 Report by the World Bank, Singapore is the easiest place in the world to conduct business. Singapore is one of the biggest financial hubs in Singapore. It is a huge player in world trade and has the world’s fifth busiest seaport. As a leading financial center it provides a very attractive location for the establishment of a corporate presence. Some of the reasons that makes Singapore attractive to foreign Entrepreneurs and firms are:
1. Excellent location: Singapore is situated in the heart of southeast Asia. Singapore’s port is one of the busiest in the world, and the country is classified as a premier International Maritime Center.
2. Easy and Simple to Incorporate a business: Singapore is the easiest place in the world to set up and manage a business. If all the documentation is complete, it takes only 1-2 days to incorporate the company.
3. Taxation structure- low effective personal and corporate tax rates. Effective corporate tax rate for Singapore private limited companies for profits up to $S300,000 is below 9% and capped at a flat rate of 17% for profits above $S300,000. There are no capital gains taxes in Singapore, dividends can be distributed to its shareholders tax-free.
4. Immigration: If you are an entrepreneur who needs to relocate to Singapore to run your business or need to hire foreign professionals, necessary work pass can be applied to Ministry of Manpower.
5. Transparent and stable government
If you want to enjoy the benefits of setting up in Singapore, please write to us.