Singapore is deemed as the number one place in the world in the ease of registration of company in Singapore or starting a Singapore business. This means that Singapore continuously attracts foreign talents and businesses and is the reason why the city state continues to prosper and grow whereas other economies seem to be faltering. Obviously, foreign business owners looking to set up a company in Singapore would consider a few requirementsbefore coming to their decision.
One of the main things that foreign entrepreneurs look for before registering a Singapore company in any country would be the tax system. Singapore boasts one of the lowest and therefore most attractive tax systems in the world – both for personal and corporate tax. Singapore practices a single-tier tax system which basically means that corporate are only taxed once and thus, dividends are divided among shareholders without any further tax incurred.
Skilled Labour Force:
The labour force in Singapore is also highly skilled, intellectual and talented. Thus, foreign business owners looking to hire locals are generally assured of getting good people in employment. This is the result of sound education policies which ensures that locals are given the best education within a knowledge-based community. In the long run, this helps both foreign businesses and local talent because both are able to complement each other.
Business Friendly Government Policy:
The government of Singapore is generally the main factor behind its success. Its ability to come up with simple requirements for company registration as well as its relentless efforts to promote foreign business set ups via incentive schemes ensure that the city state is able to gain advantage a midst sluggish economic growth. In the long run, this can only bode well for business owners existing in Singapore as well as continue to attract many foreign companies to register a company in Singapore.
Contact Paul and Hype Page Co. for a FREE consultation on how you can start a company in Singapore.
We provide the following services:
- Instant online company registration in Singapore
- International tax planning and advice
- Professional company secretary service at affordable price
Paul Hype Page & Co. is an ACRA-certified business adviser. Our team of seasoned professional can help you set up a company in Singapore very quickly and easily following all legal entities, and offer you sound advice on how to make it successful too.
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Here, you will find detailed information about Singapore’s Corporate Tax System. Paul Hype Page & Co helps companies with strategic tax planning, tax advisory, and accountancy services.
- Singapore Tax Planning
- International Tax Planning
IRAS (Singapore’s Tax Authority) governs Singapore’s tax system, helps develop a stronger economy, better environment and a more vibrant economy. All companies, regardless of industry, have a legal duty to pay taxes.
Singapore attracts investments from around the world by reducing its corporate income tax rate and introducing different tax incentives. Singapore has one of the lowest corporate tax rates in the world.
As your company’s Tax agent , Paul Hype Page & Co Chartered Accountant will be fully responsible for the practice of ensuring that these conditions are met. It is important that we be highly qualified and well versed in local regulations and corporate laws, as we are responsible for the upkeep of important company files, tax reports and tax records.
Categories: Business Opportunities in Singapore