Singapore is known for its professional business environment and offers huge progression opportunities to the investors. It is estimated to be one of the few countries in the world where business can be set up with ease and at the same time, the owners can garner significant revenues. Following are the advantages of company formation in Singapore.
Its strategic location ensures top-notch connectivity. Singapore’s port is one of the busiest in the world, and the country is characterised as a prime International Maritime Centre.
Singapore is located at the heart of the Asia Pacific region, which makes this area an ideal destination for international companies planning to tap major Asian markets including Taiwan, India, China, Malaysia and even Australia.
Tax resident status can be enjoyed by foreign companies who set up a Singapore subsidiary company. In other words, they can avail the benefits of tax incentives and exemptions exclusive to local businesses. A newly incorporated parent Company, with at least one individual shareholder that has a minimum of 10% shareholdings, is entitled to the local tax exemption of zero tax for the first S$ 100,000 of its chargeable income.
The Singapore government provides several tax incentives to certain foreign companies to attract more companies to set up their business operations from Singapore. It also offers long-lasting competitive benefits. Thus, there is an extensive list of foreign investors lined up to set up their Business in Asian Market.
If you are making an allowance for entering the Asian market, then S. K. Patodia & Associates is a one-stop solution that will help you to spread your wings in desired business destination. It usually takes 1 week for setting up a company in Singapore.