Found in the heart of Asia, Singapore is a major economic hub that has a strategic and respectable position in terms of business, among countries worldwide. There are more than 7,000 multinational companies established in Singapore, more than 154,000 small and medium businesses, and the main reason why foreign investors choose this country for business is that there is a multitude of opportunities in most of sectors and industries.
Moreover, the incorporation process is not complicated, however, if you are from abroad and you do not have a clear picture about how the business is done in Singapore, it is recommended to ask for the support of an experienced team of specialists in this matter.
Singapore, Ranked As The Easiest Place For Business In Asia
The stable socio-political environment, the excellent infrastructure, the free market economy, and the appealing tax regime make Singapore a desirable place for doing business among Asian countries. Setting up a company in Singapore is a relaxed process, and more than that, the registration can be ready within a few hours, if all the conditions in terms of documents are respected.
The limited liability company is the preferred business form for international investors in Singapore, it can be established with a minimum capital of 1 SGD, and it needs at least one shareholder. Other foreign investors may decide for setting up branches and subsidiaries. Having a simplified registration process makes entrepreneurs choose Singapore for business as they can rapidly establish their presence on the market, in simple steps.
Singapore’s Strongest Business Points
Emerging with Asian markets is simple nowadays, and Singapore is found on the map of interesting and welcoming business destinations. Besides that, the entrepreneurs from abroad are aware of the competitive local workforce, the relaxed economic policies and the business-oriented environment that allows any investor to use the country as a catalyst to knock into other Asian evolving markets.
In terms of taxation, Singapore signed a series of double taxation treaties with numerous countries for the avoidance of paying taxes twice. Being an international business community, Singapore developed excellent business collaborations with European and American states in a large percent.
Therefore, numerous financial institutions, organizations, or multinational companies found Singapore as the proper business destination for their activities. The following features highlight the benefits of opening a company in Singapore:
- An appealing taxation regime;
- An easy company registration process;
- Governmental support for small and medium entrepreneurs;
- A solid and reputable financial sector;
- Complete intellectual property protection;
- Business-friendly climate;
- Strong economic and business relations with countries worldwide;
- Excellent infrastructure;
- Reliable workforce;
- A sturdy legal system;
- A strategic geographic location with international connections.
Opening a company in Singapore means, in large terms, taking advantage of an attractive business environment, strongly connected with today’s competitiveness, and having the necessary support for future developments and investments.
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