Singapore is a location to which many foreign businesses have expanded. Business expansion to Singapore by foreign companies is a common occurrence because of the many advantages of conducting business operations from there.

Foreign Companies Expand Their Business Operations to Singapore

Singapore has a highly respected position in the global economy. The country is serves as among the leading business epicenters of the Asia-Pacific region and is therefore known around the world as a suitable location for business activities to be conducted. There are several reasons why Singapore has emerged as a global business hub. Among the primary reasons for Singapore’s enviable status among the international business community are its high level of infrastructural development, the fact that its political system is relatively stable, its government policies which have promoted the growth and development of businesses, and the high level of protection for intellectual property rights. For these reasons as well as several others, companies from all over the world have gained many advantages through the expansion of their business operations to Singapore.

 

Simplicity of Company Incorporation

According to the latest statistics as published by the World Bank, Singapore ranks second in the world for the purposes of conducting business activities. One important reason behind this high ranking lies in the relative ease of registering and incorporating a company in Singapore. As long as all necessary requirements are fulfilled and the application is submitted in an acceptable manner, the company will be established in a suitable way. Any person who is legally permitted to do so, whether local or foreign, may set up a company in Singapore. Furthermore, there are also online systems which permit anyone who is interested in owning a Singapore-based company to do so in a way which is generally simpler and more understandable than is the conventional method.

In any case, if you plan to start a Singapore company of your own, we at Paul Hype Page & Co are able to serve your needs. We will see to it that all necessary criteria are fulfilled before you set up your company. In this way, you can be sure that your company will be established in a legal and proper manner.

 

High Level of Security and Safety

Singapore is one of the most politically stable countries in Asia. For this reason, anyone who opts to start a business there will be able to take advantage of the stability which has created a secure and comfortable environment for all investors in the country. People who live in Singapore also experience much personal safety in their daily lives because all laws in Singapore are strictly and justly enforced. Thus, the country enjoys one of the lowest crime rates in the world.

 

Business-Friendly Environment

A litany of statistics and surveys from all over the world have been able to agree to the fact that Singapore is home to one of the world’s most business-friendly environments. Among the international bodies which have been highly complimentary of Singapore’s business environment include the World Bank, the World Economic Forum, and the Economist Intelligence Unit. Thus, it should not come as a surprise that multinational corporations from all over the world have selected Singapore as the location from which they conduct their business operations.

Trade Agreements

Singapore is part of many trade agreements which have served to facilitate business activity across the country. The first trade agreement which ever included Singapore was that regarding the ASEAN Free Trade Area (AFTA). This trade agreement first came into force in 1993. Today, Singapore is part of a great many trade agreements with countries located all over the world while also continuing to be involved in trade agreement negotiations with other countries. Singapore’s many free trade agreements facilitate the conducting of business and trade activities with other countries, thus allowing foreign businesses to be more able to expand business operations to Singapore.

 

Intellectual Property Protection

According to statistics compiled by the World Economic Forum, Singapore’s intellectual property protection is the best in Asia. Therefore, business owners can be assured that their rights pertaining to intellectual property will not be violated after they establish a company in Singapore.

 

Attractive Personal Income Tax Rates

Singapore has among the lowest personal income tax rates in the world. The highest possible rate of personal income tax which could be paid by taxpayers in the country is just 22%. Therefore, many business owners choose to live and work in Singapore because doing so would allow them to save tax money.

However, it is not always easy for one to understand all the details surrounding taxation in Singapore. Therefore, we at Paul Hype Page & Co can be of assistance to you. Our tax experts will work with you in order to ensure that you will receive the most favorable tax outcomes possible.