Due to economic growth, Singapore is rapidly becoming the target of future business and foreign investment. Its incredibly fast climb has become one of Southeast Asia's corporate sacred sites, relying heavily on its ability to attract foreign investment and nurture local businesses to achieve profitable results. Thanks to its generous and relaxed registered company policy, more people are attracted to Singapore to seek future investments, and the benefits far outweigh any other countries.
Benefits of registering a Singapore company
Company name registration is conducted by ACRA (Accounting and Corporate Governance) and ACRA can approve (or reject) the company name within one hour. If all the necessary forms and documents are prepared in accordance with the prerequisites, the registration process can be completed in a few hours. Allow full foreign ownership with a minimum paid-up capital of only S$1.00. In addition, only one director and shareholder is required, and it can be the same person.
Due to its global treaty (nearly 60 countries), profits outside Singapore are legally tax-free, so local companies avoid double taxation. The new company was exempted from the capital gains of the previous three years, after which interest rates began to range from 8.5% (income from S$100,001 to S$300,000) to 17% (S$300,001 and above). Personal income tax has grown exponentially from as low as 3.5%, with income exceeding S$320,000. Singapore has the lowest tariff rate on goods and services, at 7%, well below the global average of 16.4%.
The island republic is located at the crossroads of the world's international trade routes and is one of the fastest growing countries in the business, finance and banking sectors, so many multinational companies have gathered here to become at the forefront of international business. Setting up a company in Singapore means using world-class infrastructure with advanced telecommunications networks, cutting-edge technology, extensive transportation hubs and other state-of-the-art facilities.
We encourage foreigners to invest and build businesses here, hoping it will increase the existing world-class talent pool. Foreigners can easily get Entrepass to operate company legally in Singapore. Financial aid is readily available, and successful applicants (and their families) often gain permanent residency (PR) status if they perform well in their respective businesses.
Singapore is a fast-growing country with unparalleled health care, living standards, education systems and thriving social scenes. It is hailed as one of the safest cities in Southeast Asia and the five most unspoilt cities in the world. The literacy rate of Singaporeans is very high, and English is the most popular commercial medium, everywhere. In terms of history and culture, Singapore has the charm of East and West for all tastes.
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