subject: Main Reasons For Setting Up A Company In Singapore [print this page] Singapore is one of the biggest financial hubs in the world.Singapore's port is considered one of the busiest in the world.Singapore can give the most attractive location for establishments of a corporate presence.Other thing that makes it amazing is that the procedure of Singapore offshore company set up is very much easy.Having said that, anyone considering establishing a company in Singapore should obtain expert guidance in advance. By that, you will be assisted in terms of legality and some financial matters.
Why would someone wish to establish a company in the Republic of Singapore in the first place?One of the main thing is that the individual has the intention to live in Singapore.According to experts, it has the best quality of life of any city in Asia. Recently, and possibly as a result of this, Singapore is becoming an increasingly more expensive place in which to live.
But apart from increased cost of living, a very favorable taxation regime for Singapore offshore companies exists.The taxation regime is applicable to individuals and companies.An example of which is that there is no local tax liability on profits gained from non Singaporean sources which is subject to certain conditions.Dividends and income are the main inclusions.A company incorporated in Singapore and, correctly structured, is effectively exempt from taxation of profits earned outside the republic.
Setting up a company in Singapore is relatively straightforward, although the authorities still implement stringent guidelines to ensure legitimacy of business operations and maintain the reputation Singapore holds.
Low capital is only allowed by law.Singapore is one of the most easiest countries to start a business with.Main requirement is that the director should be from Singapore or a Singapore resident.To support a start up company in Singapore, the procedure for setting up a corporate bank account is also relatively easy and a good professional services firm can manage this process for you.
Singapore is not regarded as a 'tax haven'.{This term has been used in reference to low tax jurisdictions and is viewed with suspicion by revenue authorities fighting tax evasion.|No worries in putting up a business in Singapore since the country is very stable, politically and economically.
Singapore government is approachable enough for businesses.A lot of local consultants are available to aid in office services.Restrictions are lessen when it comes to fund transfers and international financial transactions.Singapore is World Bank's easiest places to do business with in 2010.English language is only accepted and allowed in terms of documentation. The Inland Revenue Service requires a company with a total sales of five million Singapore dollars to submit an annual financial report to them.Sixty other countries has an agreement with Singapore when it comes to double taxation.Inclusion of the benefits a company can get in Singapore is the strong legal framework and strict protection of properties. Singapore is now known to be one of the top three countries in the world.Singapore is now ranked as the third largest country in terms of foreign direct investment.Singapore offshore company set up is now the main attraction for investors worldwide.
