Many business owners are looking for suitable countries to incorporate their company. They are ideally looking for countries that provide excellent infrastructure and a proper environment to run their company. Not only that, with businesses becoming global, they are ideally looking for a well-connected country.
Singapore fulfills all these requirements and more. Today, we will share with you seven reasons why you should incorporate a company in Singapore.
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1. Strong economy:
Ideally, when you’re looking for a country in which you can incorporate your company, you need the country to have a robust economy. When it comes to Singapore, the services industry accounts for 75% of the GDP. Not only that, the country has experienced steady economic growth. It exports goods over SGD 500 billion annually.
On these parameters, one can clearly state that Singapore has a robust economy.
2. Low tax rate:
Singapore has a simple tax system. It does not levy tax on capital gains or dividends. That is why many companies prefer Singapore new company incorporation.
Also, the tax rate for the first 3 years is 0% for new companies as long as income is less than SGD 100,000 annually. The corporate tax rate is 17%.
All these point to a rational and straightforward tax system which is another advantage for Singapore new company incorporation.
3. Excellent connectivity:
Singapore has one of the busiest airports globally. It has the most active port as well. Import and export of goods is easy. Changi airport is connected to most developed as well as developing economies.
The excellent connectivity certainly works to its advantage.
4. Access to skilled workforce:
The excellent education system in Singapore ensures that you get access to a skilled workforce. Singaporeans are some of the hardest-working nationals globally. That is why, when you incorporate a company in Singapore, you get access to a skilled workforce.
5. Stable political environment:
Singapore hasn’t suffered from a political upheaval since its independence from Malaysia. Not only that, with free and fair elections, you can be certain that in the future as well, Singapore will experience a stable political environment. This is one of the main requirements when you’re looking to incorporate a company.
6. Great quality of life:
Chances are, if you go for company incorporation in Singapore, you will live there for some time as well. The advantage of Singapore is that it offers you an excellent quality of life. Whether you’re looking for restaurants, clubs, bars, or anything else, it has them all.
The quality of life which you get is at par with any other developed country.
7. Strong legal framework:
The legal framework in Singapore is robust. Not only that, you will get a timely resolution of legal disputes. The modern regulatory framework ensures that you can protect your intellectual property as well as your rights. That is why, when you’re operating from Singapore, you will not have to worry about legal abrasions.
All these reasons make Singapore an excellent country for company incorporation. Rather than being in 2 minds regarding it, you should go ahead and incorporate your company in Singapore.
