One way in which the government aids in Singapore company registration is by providing assistance in the guise of schemes and initiatives that makes it a lot easier for foreign businesses to ease into the local market. The limited liability company is the most common in Singapore. Registration guidelines are relatively straightforward and foreign-born nationals who own the business do not even need to be onshore at the time of incorporation. All legal requirements are kept private and confidential at all times. Even after the corporate has been registered in Singapore, business owners who do not require a lengthy stay in Singapore can utilise visitor passes to conduct their businesses in their office here. Shareholders and directors are allowed to conduct business operations and open bank accounts. This means that business owners can literally start working on expansion and growth plans without having to apply for an employment pass or become a resident in the country. Corporate tax is also low in Singapore.
It is also well known around the world that Singapore’s work force are talented and highly intellectual. As such, international companies who have existing operations in Singapore regularly do not need to worry about finding suitable persons to fill local manpower requirements. Companies know that Singapore company incorporation is aided by the fact that they would be able to recruit suitable candidates who have the necessary experience and qualifications to aid them in their business endeavours. Additionally, most Singaporeans are multilingual and able to converse in at least three different languages. This is highly important as it means locals would be able to play a big part in the company’s expansion plans in Asia Pacific as local Singaporeans would have the means and ability to be a part of the company’s growth due to proficiency of language and ability to understand local customs and cultures.
International entrepreneurs which are looking to set up base in Singapore with the eventuality of expansion within the region is also assured in the knowledge that the country is a hotbed of technology and innovation prowess. The Singapore government has invested highly on innovation and technology in order for the country to be at the forefront of intellectual property and technological knowledge within the region. As such, Singapore company registration definitely means that business owners would be able to utilise such resources in order to grow their own company’s net worth before embarking on their growth plans. There are also various companies existing in Singapore who have gone into partnership with the local government by collaborating on different research topics and investing in various technologies.
As such, it is no wonder that Singapore remains the springboard in which various companies utilise in order to successfully expand operations into the Asia Pacific region. There are so many reasons and factors which lead from Singapore company registration to growth for the business owner. Whether it is the simplicity of the process, aid by the local government, pool of local talent or technological know-how, Singapore remains a viable choice for those who are looking to kick start their expansion plans in the region. It is thus easy to see why most businesses prefer to opt for Singapore company registration as a means of gaining a foothold in the region before moving business operations to other countries in Asia Pacific. In the long run, this gives a positive impact to the Singapore economy and reinforces the impression that Singapore is indeed a good place for company registration.