Having received all the documents as requested in order, the incorporation documents of your Singaporean entity can be obtained within just 24 hour time. You can now start to convert your Business Visions to Reality !!
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.
Companies (resident and non-resident) that carry on a business in Singapore are taxed on their Singapore-sourced income when it arises and on foreign-sourced income when it is remitted or deemed remitted to Singapore. Non-residents are subject to withholding tax (WHT) on certain types of income (e.g. interest, royalties, technical service fees, rental of movable property) where these are deemed to arise in Singapore. Tax on corporate income is imposed at a flat rate of 17%. A partial tax exemption and a three-year start-up tax exemption for qualifying start-up companies are also available.
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.