4 Reasons for Incorporation of Company in Singapore
Singapore is preferred by many foreign and local investors due to its pro-business environment nature and other factors such as strong intellectual property protection, and low tax rates among other reasons. Before you put your business plan into action, your business should first be incorporated through the Accounting and Corporate Regulatory Authority in Singapore. Incorporation of company in Singapore therefore, provides one with an edge especially when they engage a reputable corporate service provider for the task.
Some of the reasons why investors prefer incorporation of company in Singapore include;
Ease of Starting Business
Singapore has been named consistently in various reports as one of the best places for doing business. When compared to other countries that are also considered to be business hubs, registering a business in Singapore can easily be done within a day especially when you engage a reputable corporate service provider in Singapore such as OneStop Singapore. Both local and international investors can incorporate a company in Singapore.
Engaging a Singapore subsidiary company is an ideal registration option for both small and midsize foreign businesses that intend to establish a presence in Singapore. Foreign investors are allowed a 100% of the companies that are locally incorporated in Singapore.
Strong Legal System and Personal Safety
Singapore has one of the most stable political environments in the Asian region. It therefore offers investors a humble space to focus on growing their businesses. Singapore’s judicial system is highly recognized as one of the most efficient in Asia when it comes to enforcing anti-corruption laws and that creates a very conducive environment where investors can conduct their businesses without fear of bureaucratic practices.
The country has persistently registered very low crime rates and provides its residents with a high degree of personal safety. In case of cross border disputes, businesses can effectively rely on Singapore’s reputation as place for world class arbitration. Such reasons make it possible for investors to consider Singapore for incorporation of company.
Extensive Air Connectivity
Singapore has a very extensive air ecosystem that makes it possible for trade to be facilitated through such a dynamic supply chain management alongside an efficient logistics infrastructure. Singapore’s Changi International Airport serves over 10 airlines that fly to over 400 cities in about 100 countries across the world. Every week, about 7,200 flights land and also depart from Changi Airport with over 62.2 million passengers that pass through the airport each year. Singapore is also home to some of the leading logistics companies such as FedEx and UPS.
Foreign Income Exemption
Foreign income exemption is another key benefit that makes it possible for Singapore based holding companies to repatriate dividends directly to their foreign subsidiaries free of Singapore tax. There are however, qualifying conditions that companies are expected to meet. While considering incorporation of company in Singapore, it’s vital that you work with a reputable corporate service provider in Singapore for a better understanding of benefits that are available.
The personal tax framework is also quite appealing and makes Singapore an ideal investment location for both local and foreign investors. Working with a service provider such as OneStop that has an extensive team of experienced professionals can help with making the whole process easy and effortless.
OneStop Singapore has made the process of incorporation of company in Singapore to be efficient and easy. Foreign investors and locals can get access to the unique services the company provides to not only start their business but also ensure that all the necessary steps are accurately executed.