A Singapore Company Formation Can Provide Many Benefits
Singapore is getting a lot of very good press
, these days. Promoting your goods and services may not be difficult. This also applies to approaching investors about your business ventures. People are discovering the many good things about forming a Singapore company.
Lack of Corruption
Singapore is considered by many, as one of the least corrupt countries in the world. This gives business a competitive advantage. People are more likely to do business with a company in a country where corruption is not considered to be a problem. It is also good for businesses that are setting up in Singapore. Company formation in Singapore can be on an even level of competition. One business will not have an unfair advantage over another. This makes more opportunities for everyone involved.
Taxes
Many consider Singapore to have a great deal of tax advantages. They have a low corporate tax rate and the opportunity for tax exemptions also. Singapore also has tax treaties with many countries. This helps to avoid any possibilities of double taxation.
There are several ways that a company may be subject to taxes in two countries. Much of this has to do with the difference in tax laws and tax structures in other countries. For example, there are some countries that consider where you are paid as opposed to the source of your income. If you live in one country and your source of income is in another, you may liable for taxes in both areas. This is not very likely to happen with a Singapore company formation. Singapore has tax treaties with over sixty countries.
Client Confidentiality Laws
Singapore has laws that protect the confidentiality of clients. For example, people may invest money in Singapore banks with confidentiality. This attracts many investors to Singapore and this adds to the national economy.
Incubator Development Programme
Singapore's Incubator Development Programme is another reason to consider forming a Singapore company. You may receive financial assistance in starting up your business. It may be as much as seventy percent. Perhaps you are developing new products or services. It may also provide for hiring mentors to assist in business startups. You may also receive aid with things like operating expenses.
Global Investor Programme
You may receive permanent residency by investing in Singapore business. The purpose of the program is to attract talent from all over the world, to live, work, and invest in Singapore. There are three ways that you may qualify:
1. You may have a background as an entrepreneur.
2. You may have extensive experience in running a business.
3. You may have an approved plan for business or investment.
There is a minimum of a one million dollar investment required. You can invest in a new business. It may also be to expand an existing business.
Summary
There are many reasons to consider setting up a Singapore Company. It's positive image and lack of corruption makes it very attractive to clients and investors. There are banking laws of confidentiality. And there are investor programs that may also be of benefit.