What are the benefits of incorporating and launching a company in Singapore?

Why you should register a company in Singapore? [ Benefits]

Singapore has been the go-to location for a lot of businesses to register and operate. There are several reasons for the same.

We have listed a few below:

Economy and Infrastructure

Singapore has a robust, well developed, free-market economy. Its service accounts for 75% of the country’s GDP, which in turn employs 80% of its workforce.

The infrastructure has been astonishingly stunning with modern facilities all in place. Various incentives are in place to develop Singapore as an IP hub.

Tax Benefits

Singapore levies no tax on capital gains and dividends received from a business. New firms /start-ups receive noteworthy tax breaks during their first 3 years, reducing their tax rate to 0% for the first $100k Income. This enchants a lot of entrepreneurs to the country.

Singapore charges one of the lowest value-added tax rates in the world.

100% Foreign Ownership and Currency Controls

As a foreigner, you are allowed to hold 100% of the stock of a Singapore incorporated company. It's not compulsory to have a local partner or shareholder. There are also no restrictions on the amount of investment that you bring from your home country to be invested in your Singapore company.

Ease of Incorporation

The requirements to incorporate a company here are simple and straight forward. It is efficient and not time-consuming. Incorporation, if everything works well, takes less than a day.

Business Environment

Singapore is regarded as one of the easiest places to do business. The workforce is highly educated and proficient. It has one of the most leading arbitration centers in the world. To make things even better, it has an open immigration policy.