Why You Should Setup Your Company In Singapore

.tags

Singapore is considered as one of the biggest financial hubs in the world.It is a huge player in world trade and has the world’s fifth busiest seaport.Singapore can give the most attractive location for establishments of a corporate presence.The steps and processing of Singapore offshore company set up is very much manageable and easy which makes it more attractive.It is strongly recommended to have an advice from an expert if planning to have a business in Singapore. In that matter, you will be now guided on some legal issues and so with financial things.

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.Among the cities in Asia, Singapore is widely known to be one of the best countries to live in. Recently, and possibly as a result of this, Singapore is becoming an increasingly more expensive place in which to live.

Aside from increased cost of living, the taxation regime for Singapore offshore companies is very much reliable.That attractive regime applies to the individuals as well as to 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.Inclusions of this are dividends and income sourced from abroad.Profits earned from abroad is exempted for companies who are incorporated in Singapore and is well structured.

Singapore provides a very easy process when it comes to company set up, but still the authorities implement some guidelines to make sure that everything would be legal so as to maintain the reputation of Singapore.

The law permits a low capital.Indeed the Republic is regarded as one of the easiest places in which to operate a company from the point of view of regulatory obligations.Main requirement is that the director should be from Singapore or a Singapore resident.To aid in the whole process of setting up a company in Singapore, you need to have a professional service firm who will be able to manage or work for the whole process.

Singapore is not noted as ‘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.In 2010 it was voted the world’s “easiest places to do business” by the World Bank.It is strictly noted that all documents should be in English language. A company with a total sales of five million Singapore dollars is required to submit an annual financial statement to the Inland Revenue Service.Sixty other countries has an agreement with Singapore when it comes to double taxation.A strong legal framework and strict protection of intellectual property of companies are some of the priorities Singapore can give to its investors. From the information technology viewpoint, Singapore is in the top three countries worldwide.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.