7 Reasons why registering company in singapore is best choice for foreigners
Singapore in this context fits the best considering it’s business-friendly environment.
Here are 7 reasons why registering company in Singapore is best choice for foreigners. We believe that by knowing these reasons/advantages, you should be able to better decide whether or not you should incorporate company in Singapore.
Number one place for doing business
According to Ease of doing business report
published by World Bank group, Singapore ranked amongst top 2 out of all the countries around the world, which means that the report ranks Singapore the most business-friendly country.
Notably, Singapore is being ranked amongst best places to do business in Ease of doing business as well as other prominent reports, researches and whitepapers from more than a decade on continuing basis.
2) Affordable tax rates
According to The World Economic Forum’s report, Singapore is top 10 in the world in the list of countries having lowest tax rates .The Corporate Tax Rate in Singapore stands at 17 percent, which is way lesser comparing to most other countries such as India (34%), Australia (30.00%), Switzerland (17.92%) and so on.
Taxes are often one of the major factors for any entrepreneur that influences the choice of country for setting up a business. Singapore does not only have a low corporate tax of 17%, but the personal income tax rate in Singapore has a tier system that starts from just 0% and goes up to 20% for income above S$320,000.
3) Availability of telecom and internet facilities:
In a globally connected world and especially when planning to register company in a country different from it’s principle office, availability of fast and reliable telecom and internet facility is extremely significant.
The telecommunication infrastructure of Singapore spans the entire city-state. Its development level is high, with close accessibility to the infrastructure from nearly all inhabited parts of the country.
With such high speed internet and telecom facilities, registering company in Singapore just seems a great idea as you can make sure that you’ll be connected and can get the work done with speed.
4) Skilled labor
According to the Human Capital Report 2015
by Mercer and the World Economic Forum, 54% of Singapore’s workforce is highly skilled, relatively higher than the percentage in New Zealand and Australia. Singapore in fact has the highest proportion of high-skilled employment in Asia Pacific as per various surveys and reports.
5) Affordable and wide transportation network
At the heart of Asia Located at the crossroads of the east-west trading routes, Singapore provides access to fast-growing markets such as China, India and Southeast Asia, all within a seven-hour flight radius.
6) Flexible Immigration Policies
At times, the entrepreneurs looking to incorporate company in Singapore might want to re-locate in Singapore for setting up the business.
7) Incorporation process is easy
The International Finance Corporation and the World Bank have a great page that compares the costs, amount of time, and number of procedures involved with forming a business in 183 countries around the world. The page is specifically for businesses with between 10 and 50 employees, but can be a helpful tool for those looking into both smaller and larger operations.
As a foreigner looking to register company in Singapore, You must engage a professional firm to register a Singapore company. Singapore law does not allow foreign individuals or entities to self-register a company in Singapore.
For More information visit this link:
http://precursor.com.sg/7-reasons-registering-company-singapore-best-choice-foreigners/