Singapore is a country to which many company owners from all over the world have relocated their companies. There are many pertinent reasons as to why a company relocation to Singapore is a very desirable option; thus, many foreign company owners continue to do so to this day.
Singapore is a location used by many foreign company owners as a gateway to expansion within the Asia-Pacific region. The many business-friendly policies which exist in the country today as well as the robust and thriving corporate climate have made it much easier for companies to be established and subsequently conduct business activities in this Southeast Asian country.
Low Corporate Tax Rates
Perhaps the primary reason why foreign company owners relocate their companies to Singapore lies in the fact that the corporate tax rate which exists in Singapore today is one of the lowest in the world. The corporate tax rate in Singapore is 17%, a figure far lower than those of almost any other country. Therefore, business owners would almost certainly have to pay far less corporate tax after relocating their business to Singapore than they would if they were to remain in their home country to conduct business activities. Furthermore, a capital gains tax does not exist in Singapore. Those who own a start-up in Singapore might also be eligible to receive certain tax incentives which have been provided by the Singaporean government in order to increase the level of entrepreneurship which exists in the country.
That being said, it might not always be easy to understand all of the tax obligations and tax incentives in Singapore which might apply to you. This is where we at Paul Hype Page & Co come in. Our dedicated and knowledgeable tax experts will work with you so that you will better understand which taxes in Singapore you must pay. We will also enable you to reduce your total tax burden in a legal and honest manner.
Extensive Double Tax Treaties
Singapore is a part of many double tax treaties with various other countries across all the continents of the world. These double tax treaties ensure that nobody who pays taxes to Singaporean tax authorities will also have to pay taxes to the tax authorities of the other country involved in the tax treaties. For this reason, double tax treaties can be used by Singaporean taxpayers to reduce their overall tax burden. This fact also draws many foreign business owners to Singapore. This is because the double tax treaties from which they would benefit while in Singapore would enable them to save much money which they would ordinarily have been required to pay in the form of taxation.
We offer Singapore company incorporation, consultancy services, auditing, taxation, immigration work visas & annual compliance services.
High Level of International Connectivity
As one of the smallest countries in the world, it is very important for Singapore to ensure that the people who live there find it relatively simple to access other countries. Thus, the country’s government has ensured that Singapore has a high level of international connectivity.Singapore Changi Airport is one of the world’s best airports; from there, one can board flights to almost every major city in the world. Singapore is also home to one of the world’s busiest ports; therefore, travel by sea from Singapore is not difficult either. Furthermore, although Singapore is an island, it even has road and rail links to the neighboring country of Malaysia.
Thus, some of the reasons why foreign company owners have selected Singapore as a destination for company relocation can clearly be seen. There are many advantages which accompany the relocation of a foreign company to Singapore. If you are a foreign company owner yourself and are interested in relocating your company to Singapore, we at Paul Hype Page & Co can be of service to you. We will assist you with the completion of all necessary documents and information required before moving to Singapore. Once your company has been relocated and we have done everything you need on your behalf, you may resume running your now-relocated company.