Singapore is the gateway to Asia for many capitalists. The report of the World Bank’s Doing Business 2019 announced that Singapore is one of the best destinations to do business in the world. Why not? Singapore has a competitive workforce, strategic location, pro-business environment, and dynamic economic policies that form an ideal environment for entrepreneurs to incorporate a company in Singapore. Therefore, there is no surprise that Singapore becomes one of the most favored destinations in the world for the capitalist.
To incorporate a company, every business needs to ensure it meets unique needs and desired outcomes. Therefore, it is important to consider whether incorporating a company in Singapore can benefit your company.
The Benefits of incorporating a company in Singapore
The benefits of incorporating a company in Singapore are as follow:
Singapore has minimal bureaucracy. This is a key benefit to startups and businesses that are looking to grow and expand. With fewer limitations and even fewer steps, it is easier to set up a company and build a business in Singapore.
Appealing corporate tax structures. In comparison with other developed countries, the corporate tax structures of Singapore are very attractive. It offers the third lowest marginal rate in the world, with an even lower effective tax rate. Non-resident corporations enjoy “zero tax” for their taxable income in the first three years.
Singapore is a global talent hub. Many highly skilled workers can help a company to be successful right off the bat in Singapore. Also, the flexible immigration laws here make it easy for a business owner to relocate talent from other countries as well, allowing you to use both local and international workers to meet your business’s needs.
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A thorough Intellectual Property Protection. In terms of offering the best IP protection, incentives, and infrastructure, Singapore stays on top in Asia. Singapore has a high intellectual property right law in place to keep your company’s proprietary information safe.
Strategic location. Singapore, the little red dot, is the business hub in Asia. It is also the gateway to Asia and the heart of Southeast Asia. When it comes to trade, the Singapore government has established a solid international connection with countries all over the world. By setting up a company in Singapore, it is relatively easy for your business to reach out and venture into other countries in Asia.
The benefits stated above explain why a business owner should consider starting a business in Singapore. The process of incorporating a company in Singapore is not invasive, talk to a Paul Hype Page’s specialist to find out more.
Why is Singapore a good place to set up a Company? FAQs
What is the main working language in Singapore?Tiwi2020-11-05T16:15:42+08:00