Singapore is reputed to be one of the most business-friendly nations in the world. Due to its favourable investment policies, it is ranked by highly-recognized international organizations as one of the top countries in the world for doing business. In the last ten years, the Singapore government has simplified the process of starting a business and company incorporation to encourage more investment. In addition to the favourable climate and stable political environment, there are several other reasons why running a business is profitable for investors in Singapore.
Why Incorporating a Company in Singapore is beneficial for investors
Here are some reasons why Singapore is an attractive destination for starting a company are:
- A well-developed free-market economy: Singapore’s economy is based mainly on manufacturing, finance, and trade, with the service sector accounting for most of the country’s GDP. The nation has maintained a very low inflation rate and has no external public debt. The government also allocates funds for subsidized healthcare programs, education, and housing.
- Suitable geographic location: Singapore is located centrally in Southeast Asia, and is just a short flight away from other developed nations like India, Malaysia, or Australia. It has a world-class international airport that provides flights to several major cities around the world. Singapore’s port is among the busiest in the world. The nation has access to most of the world’s ready markets making it an excellent destination for trading activities
- A favourable and simplified taxation system: Singapore has streamlined its tax laws for foreign investors to favour increased investment. The nation does not levy tax on capital gains or business dividends. New companies receive many tax breaks in their first three years. It also levies the world’s lowest value-added tax rates
- Complete foreign ownership: A foreigner can have 100% ownership in a Singapore incorporated company. There is no need to have local partners or shareholders. This gives investors the freedom to float a company based on their desired capital structure. There are no ceilings on the capital that foreign investors can bring from their home countries.
- Availability of skilled and literate workforce: Singapore students have a reputation for their excellent academic performance that meets global standards. The nation’s advanced education system produces several qualified professionals every year who contribute their know-how and skills to corporate firms in Singapore. The locals are disciplined, hardworking, highly-qualified, and rule-abiding
These reasons make Singapore the first-choice destination for investment. 3E Accounting provides professional Singapore company incorporation services that provide support to investors starting their businesses here. Their expert team will guide you through the process of registering and incorporating your company and help you comply with all the mandatory regulations laid out by the government. They will help prepare essential documents, register your company name, and acquire all the required licenses and approvals for your business.
To ensure your business runs smoothly and profitably, you also need a qualified secretary who will help maintain register books and minutes, advise you on compliance, accounting, or tax matters, organize and convene board meetings, and other essential tasks. Our firm provides the best, professional secretary service Singapore to meet all your company’s requirements.
