Formation Of A Company
Formation Of A Company In Singapore
For many business experts, the formation of a company in Singapore is definitely a smart entrepreneurial move. This is because Singapore is one of Asia’s premier business hubs. It is home to various businesses, from startup enterprises to multinational companies.
Reasons Why Formation Of A Company In Singapore Is Highly Recommended
Apart from its strategic location, Singapore’s pro-business environment makes it an ideal venue for entrepreneurs to set up their companies. This city-state is laden with various policies which aim to make it easier for businesses to operate smoothly and attain world-class stature.
Included in its business-friendly provisions are competitive tax benefits which many entrepreneurs simply cannot resist. Compared to other countries, Singapore has lower corporate and personal tax rates. In fact, for new companies, their first 100K income of the year is non-taxable for the first three years. It also offers industry-specific tax incentives and generous tax exemptions for SMEs.
Apart from its low tax rates and tax exemption policies, the city-state has liberal immigration policies. If foreign entrepreneurs with businesses in the country wish to relocate here, all they have to do is apply for an Entrepreneur Pass. They may even bring their families with them. The government also allows bearers of passes to apply for permanent residency or citizenship in Singapore.
Friendly corporate laws, state-of-the-art infrastructure and stable political environment are the other reasons why this nation is the ideal place to form a company. Business owners revel in the fact that red tape and bureaucracy are nearly non-existent here. Furthermore, requirements to establish a company are fairly simple and applications are processed quickly.
Formation Of A Company In Singapore – Partnering With Company Registration Specialists
Registering a company may at the very least take one whole day. This is if the right documents are presented and if the right steps are taken. So, to avoid delays in this endeavour, it’s best for entrepreneurs to enlist the services of a professional firm offering company registration services. By entrusting the registration of their businesses to the experts, entrepreneurs spare themselves of possible registration hassles. Moreover, they can just focus on other important aspects of their business like planning marketing campaigns or polishing operational processes.