Singapore is one of the best places to register your business especially if you want to trade internationally. Below you will find the reasons why you should incorporate your business in Singapore:
Singapore has concentrated on being as business-friendly as possible with the added benefit of low tax rates.
Singapore company registration process is fast – it takes just a couple of days, and there is no need to visit. Singapore places no restrictions on the nationality of directors or shareholders, although one local director is required, which in itself gives a level of privacy. Additional services such as establishing a virtual office are also easy to arrange.
We have been successfully forming companies for our clients in Singapore since 2008. We will guide you through the process to ensure you have a fully functioning Singapore company very quickly and at reasonable cost.
Compared to many jurisdictions, it is easy to open a corporate bank account for a Singaporean company in Singapore. There are many well-established banks (including OCBC, DBS etc) with an excellent international reputation. It is, of course, also possible to establish banking facilities outside the jurisdiction, including e-Wallets.
Base your start-up in Singapore, and you can benefit from 75% tax exemption on the first S $100,000 that your business earns. The top rate of tax is 17%. If you are interested to learn more about Singapore taxes, please visit our guide on How to Start a Company in Singapore.
Singapore also benefits from around 70 DTAs, which mostly cover interest and royalties, but dividend payments are generally free of withholding tax. See a complete list here (opens in a new tab).
The local dialect in Singapore is referred to as ‘Singlish’, but you will be pleased to know that standard English is universally understood and used in business (no need to learn Singlish).
The legal system is English Common Law which is generally more business-friendly than Napoleonic/Civil Law.
As you can see from the above, Singapore is an attractive jurisdiction to do business from. It has had a pro-business since the country became independent in 1965.
We can form Singapore companies to your requirements and assist you with opening a bank account both inside and outside Singapore. Please contact us (contact form below) for more information.