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Register Company Singapore: What Foreigners Need To Know

Any company that is thinking of going global can benefit from setting up a branch or subsidiary in Singapore. Foreigners who are building their nest egg or just want to leave something for the company after retiring can definitely make most of their savings in Singapore. Whether merely looking for a place to retire, or wanting to do business in Singapore, foreigners can definitely enjoy their stay in Singapore for its world-class amenities and fast-paced environment.

Voted as the top most livable city for expats globally, Singapore is at par with global cities like London, New York and Hong Kong for its clean facilities, tourism hubs, boutiques, corporate and educational environment, and healthy investment activities. Singapore also offers fairly lax tax rates as compared to other developed countries such as Japan and Hong Kong, making it a suitable place for relocation and business for expats. Besides, isn’t it the purpose of moving? To live a cost-effective way of life?

Register Company Singapore For Global Expansion

As an open economy, Singapore is a city that remains conducive to global trade. It is an open avenue for all types of industries that want to expand their reach such as engineering, research and development, manufacturing, science and technology, IT, finance and banking. The country is also a great place for individuals to explore their job options, as the country’s workplace is ever growing and evolving.

Register Company Singapore: Updates On Tax Exemptions

Another great benefit of heading to Singapore for business or retirement is its tax exemption schemes. The Singapore government has inked various tax treaties with other countries, therefore, removing the burden of double taxation for foreign business entities in the island state. Partial or full tax exemption is also bestowed on companies with foreign-sourced income which is why setting up a company in Singapore offers a lucrative and cost-effective option for start-ups.

Foreigners can always apply for a tax exemption for their foreign-sourced income as long as they submit the required details of their income to the Singapore registrar.