Benefits of Incorporation in Singapore
Why incorporate in Singapore?
With no capital gains tax, robust IP protection, and one of the lowest corporate tax rates in the world, Singapore has topped the World Bank’s Ease of Doing Business index year after year, Singapore has attracted more and more entrepreneurs, corporations and ventures of all sizes across the world to incorporate a Singapore offshore company.
In addition, 75 comprehensive double taxation agreements and 8 limited treaties dealing with income from shipping and air transport enterprises, as well as no controlled foreign company rules, make the city-state the most preferred destination for company incorporation in Asia. Singapore has received many accolades for its business-friendly policies. These rankings have been awarded by well-regarded international organizations and they provide an independent verification of the country’s pro-business stance for the last several decades.
What Makes Singapore So Attractive?
Several factors make Singapore a very attractive place for incorporating your new company; these include:
1. A robust economy
2. A rational tax system with low tax rates
3. Efficient process for incorporating and operating a company
4. Strategic geographical location
5. Excellent infrastructure
6. Well-trained and productive workforce
7. Well-developed capital markets and financial system
8. No restrictions on repatriation of profits or import of capital
9. Strong adherence to the rule of law
10. Stable political and economic climate
11. Well-functioning government that is free of red-tape or corruption
12. Excellent quality of life
13. Professional Image
Singapore is a well-functioning first world country that provides a very business friendly environment for new entrepreneurs. Its healthy economy, strategic geographic location, attractive tax policies and efficient government make it a very attractive place for incorporating a new business. For over two decades, Singapore has also been a very popular destination for foreign entrepreneurs. A series of concerted policies by its government have made it a very business-friendly venue for foreign owned firms. Its advantages include ease of doing business, low taxes, integration with global markets, premier geographic location, and a productive English speaking workforce. It is for these reasons that every year thousands of local and foreign entrepreneurs and companies make it the new home for their business.