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Singapore is growing to be one of the Asia’s most preferred destination to incorporate a company and start a business in this country. Because of the various factors like geographical proximity and the liberal laws of the country, the multinationals are preferring this country to manage their businesses globally.
Why you should have an off-shore office in Singapore:
Singapore country offers various incentives to the corporate running their business in the country. Some of the incentives has been given below:-
Tax incentives to start-ups in Singapore
How ASC can help you in achieving your goals:
Why Singapore is easiest place to do business??
According to the latest survey, Singapore is one of the ideal and easiest countries to do business in the world. One of the major factors that attract the investors to Singapore is absence of corruption in public and financial institutions and the safety of doing business in Singapore (Natural and Man-made disasters).Singapore’s economy is the most business friendly economy.
The booming economy of Singapore has earned this small country a nickname of “Asian Tiger”. The distinct economy advantage is its location. The island is situated along important shipping routes in South East Asia. The natural deep water ports and shipping routes make trade a very key part of the economy. Trade and Commerce are key parts of the economy. Singapore believes in free trade and in 2015 it became the first ASEAN country to sign a Free Trade Agreement (FTA) with the European Union. Human capital and skilled labor adds to the prosperous economy.
Procedure for Business Set-up in Singapore-
*Before starting a business in Singapore you need to register your business or company with Accounting and Corporate Regulatory Authority (ACRA).
*A person who is not the resident of Singapore can for Entrepass from the Ministry of Manpower before incorporation of the company and if he has no intentions of staying in the country he can appoint a local resident on behalf of him as Director.
*Businesses are registered under Business Regulatory Act. It can be a sole propertiership firm or group of individual’s forms a company under Company Act
The duration time for a company registration takes approximately 2 days
Government provides tax exemption to start-ups under following three conditions-
*The company must be incorporated in Singapore
*The company must be a tax resident in Singapore for that year of assessment
*The company must not have more than 20 shareholders throughout the basis period for that year of assessment.