It pays for a business owner to start a register a company in Singapore. It is a trading economy and an important business hub in Southeast Asia. A company based in Singapore is considered as credible and is an easy sale to customers, vendors, investors, governments and their regulating agencies and lenders like a bank, venture capitalists, and angel investors.
Advantages of Singapore Company Registration
Singapore is not a tax-haven, but, a well-regulated jurisdiction. It is reputable for its strict accounting and corporate laws. It lends legality to the Singaporean companies.
Singapore is ranked at 4th place in the list of least corrupt countries. The reputation naturally attracts entrepreneurs and investors for a Singapore company registration. A number of MNCs and prominent SMEs have registered their regional and global headquarters in Singapore.
When you register a company in Singapore, you get access to a highly competitive economy. It is at the top in 2020 Institute for Management Development (IMD) World Competitiveness Ranking 2020.
Singapore company registration process is short, swift, & cost-effective. It is placed 2nd for the 'Ease of Doing Business' indicator in the World Bank Report 2020.
The city-state has the least burdensome taxes of all in the world.
The corporate income tax rate comes to about 8.5% on nominal taxable income of up to S$300,000. And that in excess is charged a flat rate of 17%.
Singapore companies benefit from comprehensive double taxation treaties that Singapore has with more than 60 countries. It simplifies their cross-border trade.
Infrastructure-wise Singapore is an advanced country. It has world-class telecommunication networks, public transportation system, and technology.
Singapore ranks 1st in Asia in terms of infrastructure.
Singaporean laws offer great protection to intellectual property, global trademarks and patents. It has an outstanding record in protecting against infringements of intellectual property rights. A number of R&D companies are based in Singapore.
Singapore scores well on disclosure of taxation related information.
Singapore attracts a tremendous amount of foreign direct investment. It is the third-largest recipient in Asia.
Requirements for Singapore Company Registration
When you opt to register a company in Singapore, you have to provide a registered physical office address. However, you do not have to rent a physical office. You can hire a registered address service for it.
To set up your company in Singapore, you need:
At least one shareholder
At least one local or resident director
At least one company secretary
A local registered address (P.O. Address is not valid)
Minimum initial paid-up share capital of S$1
Singapore company registration is one of the most viable option to protect and grow your business idea. With it, you get a startup ecosystem that is reputed for backing new businesses. This international business hub gives you access to a variety of funding options. Your company benefits from low taxes, stable political and economic environment. It also offers safe and secure living spaces and quality of life if you decide to relocate.
