7 Reasons why registering company in singapore is best choice for foreigners

1. 7 Reasons why registering company in singapore is best choice for foreigners Depending on your target audience and its needs, taxation laws, the nature of the local workforce and other factors, doing business overseas just might offer advantages to you that exceed those of the country where you live at right now. 

2. Either an existing company looking to expand its reach or an individual looking to expand his or her business, there are times foreigners want to register company in a country where it’s easy to register, cost is low, skilled manpower is available and other facilities, as well as environment, are conducive to doing a profitable business without hassle. Here are 7 reasons why registering company in Singapore is best choice for foreigners.

3. 1)Number one place for doing busines According to Ease of doing business report published by World Bank group, Singapore ranked amongst top 2 out of all the countries around the world. Notably, Singapore is being ranked amongst best places to do business in Ease of doing business as well as other prominent reports, research, and whitepapers from more than a decade on continuing basis.

4. 2) Affordable tax rates According to The World Economic Forum’s report, Singapore is the top 10 in the world in the list of countries having lowest tax rates. The Corporate Tax Rate in Singapore stands at 17 percent, which is way lesser comparing to most other countries such as India (34%), Australia (30%) and Switzerland (17.92%). Taxes are often one of the major factors for any entrepreneur that influences the choice of country for setting up a business.

5. In an effort to move away from a dependency on income taxes and to make the economy even more competitive, the government has adopted a more broad-based consumption tax called Goods and Services Tax (GST). Singapore maintains one of the world’s lowest GST rates (currently 7%), ranking below the global average VAT/GST rate of 16.4%, and the Asia-Pacific average of 10.5%.

7. 3) Availability of telecom and internet facilities In a globally connected world and especially when planning to register company in a country different from its principal office, availability of fast and reliable telecom and internet facility is extremely significant. The telecommunication infrastructure of Singapore spans the entire city-state. Its development level is high, with close accessibility to the infrastructure from nearly all inhabited parts of the country.

8. Business owners can find themselves connected online almost everywhere to ensure their international transactions take place seamlessly without delays.

9. 5) Affordable and wide transportation network At the heart of Asia Located at the crossroads of the east-west trading routes, Singapore provides access to fast-growing markets such as China, India and Southeast Asia, all within a seven-hour flight radius.   Singapore’s Changi Airport is considered the best in the world and provide you easy access to major cities in the Asia-Pacific, North America, Europe and the Middle East.

10. 4) Skilled labor According to the  Human Capital Report 2015 by Mercer and the World Economic Forum, 54% of Singapore’s workforce is highly skilled, relatively higher than the percentage in New Zealand and Australia. Singapore, in fact, has the highest proportion of high-skilled employment in Asia Pacific according to various surveys and reports. As mentioned on the official website of  Monetary Authority of Singapore, 

11. 6) Flexible Immigration Policies Singapore’s open Immigration policy facilitates the relocation of foreign nationals who wish to set up businesses here. If you are an entrepreneur who needs to relocate to Singapore to run your business or need to hire foreign professionals, the government has anticipated your needs and made appropriate Singapore work visa provisions. To help value adding individuals settle permanently,

13. 7) Incorporation process is easy In Singapore, setting up a business involves three procedures which can be completed in three days, at a relatively low cost comparing to various other countries. There are some simple requirements to fulfill and following the steps on which a Singapore company can be incorporated without hassle. Moreover, it’s possible to incorporate company in Singapore from a minimum share capital of $1 thereby not requiring huge funds for the process.

14. For More information visit this link: http://precursor.com.sg/7-reasons-registering-company-singapore-best-choice-foreigners/