Starting an Offshore Company in Singapore
Putting up a business in your hometown is challenging – setting up your business in a new country can be 10 times more complex. However, it does not always have to be. Research into potential countries will smoothen and expedite the process.
There are several factors you should seriously consider before deciding on a host country. Location and openness to your chosen industry as well as immigration laws must be deliberated. The tax system is highly important for finance. This ties in with the government systems and the body overall – is the political climate accepting of new businesses? Do the policies protect businesses like yours?
As a leading country in business and finance at the heart of Southeast Asia, Singapore has a thriving economy and a strong presence of premier banks and financial services.
Foreign-controlled and owned companies can incorporate following 2 steps via BizFile+, which is a filing and information retrieval system, managed by ACRA. Find out more about the incorporation process here.
5 Reasons Singapore Should Be The Potential Country For Your Company
Transparent and open business processes to help enable businesses. Processes for incorporation, tax, permits and licenses are simple, straightforward and stress-free for all companies regardless of size and type of business entity.
Tax breaks and low taxing systems for Corporate and Personal taxes. A single-tier tax system is used in Singapore which effectively makes dividends tax-exempt when distributing to shareholders. It also supports one of the lowest Value Added Tax (VAT), locally known as Goods & Services (GST) at just 7%.
Strategic location within the region of Asia, Singapore is a well-regarded location among other countries as a highly competitive yet receptive and supportive location.
There are various avenues to acquire the variety of Work Visas available.
Singapore is an attractive country for top talents and captains of industries to relocate to. We enjoy a strong manpower force and it is not difficult to find field experts among residents and expatriates living in Singapore.
Singapore prides itself on being a clean & green city.
A city with clean streets, lush greenery and picturesque cityscapes – there is something here for everyone. Easy access to public and private transportation is available throughout the city.
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