With the rapidly growing number of entrepreneurial companies, Singapore is all set to give an equal competition to the Silicon Valley. Entrepreneurs from all over the planet are moving towards Singapore to be a part of the globally rising economy. Not only the new companies but also the existing companies are moving towards Singapore to expand their business.
You will certainly like to know the benefits of incorporating a company in Singapore before finalizing your decision to move to this incredibly beautiful city-state.
Support from the Government – One of the basic things every business requires is support from the government. The Singapore government are not only generous to provide aids to the business but also the tax rates are very affordable there. The corporate tax of Singapore stands as low as 17%. The low tax rates leave the businesses with more funds to be reinvested. The Singaporean economy does not have any tax on capital gains that means once a corporate has been taxed the dividends in the hands of shareholders will not be taxed. In the simplest term, the Government of Singapore provides the perfect thriving ground for businesses.
The easy incorporation procedure – As said above, the Singapore government is very supportive of businesses. The incorporation procedure here is very easy and hassle-free. The whole incorporation procedure involves just three steps and these three steps can be literally completed in three days. Not only this, you can start a company here with share capital as low as 1-dollar. However, the government does not allow foreign nationals to enter the incorporation procedure on their own. You need to hire a professional firm for this process. Visit the link to get in touch with Singapore Company Registration Firm https://www.singapore-company-registration.net/.
Flexible Immigration Policies – The Singapore government is very liberal in letting the foreigners come and live in their island city-state. If you are a foreign national who wishes to incorporate a business in Singapore you are welcomed here. If you wish to hire staff from a foreign country you can easily call them to Singapore. Even gaining the status of Singapore Permanent Resident Status is not a daunting task.
Ease of conducting Business – Singapore is the most business-friendly country in the world, according to the global survey reports. And, this is not the report of a single organization or a single year. Singapore is ranking high on every such survey continually for about a decade. Any serious entrepreneur will be attracted towards a place where they can focus on their business operation rather than on compliance with the law. And, it becomes much easier for foreign entrepreneurs because they have the continual support of company registration firm.
High penetration of internet and mobile – Nearly all inhabited parts of Singapore are connected with high-speed internet and telecom services. When you are planning to register a company in this globally connected world, internet connectivity is a major thing of concern. Not only you can get the high-speed internet connectivity in Singapore, you get it at a very competitive rate. In addition to the private internet service providers, there are several public Wi-Fi access points all over the place. You can rest assured that your international communications and transactions can be done without any delay if you are in Singapore.
Highly skilled human labors – More than half the workforce of Singapore is highly skilled. So, it is a good place for any business because you cannot do it all alone. A major chunk of entrepreneurs and business owners choose Singapore just for the reason they can get highly skilled workforce at affordable rates. Singapore’s workforce is known globally for their high qualification and hardworking nature.
The strategic location – Singapore is situated at the crossroad of East-West trading routes. The city-state is located merely few hours flight distance from the largest consumer markets of the world i.e. China, India, and the Middle-East. The Singapore airport is considered the best for providing an access to all the major cities of the Asia-Pacific, Europe, Middle-East and North America. Being an island Singapore also provides most extensive international port connections. Hence, Singapore is the top docking destination in the World.
All these advantages add up to make Singapore the top destination for entrepreneurs all over the world. The government is focused on keep pushing their boundaries for economic growth, so, the city-state provides an opportunity for continued success to businesses. If you have any entrepreneurial plans grab the opportunities existing in Singapore before the market gets saturated with other entrepreneurs.