The Benefits of Company Incorporation in Singapore
Each year, thousands of people and corporate firms embrace the Singapore business incorporation. In 2015 alone, more than 17,000 businesses (local and foreign) registered their business in this country to take advantage of the available opportunities. Singapore manages to emerge as a developed business hub for the obvious reason that the government is pro-entrepreneurship and it has an eco-system that is supportive.
Company incorporation is a great alternative for those who seek to have a holding company, establish a regional headquarter, register a trading company that is international, or set up an export and import hub.
The Kind of Business Structures Available to the Residents of Singapore
The citizens of Singapore and pass holders have various businesses they can form. These include sole proprietorships, limited liability partnerships, and private limited companies. Of the three, the private limited company is the most reliable for most individuals. It is a business structure that is scalable and dynamic and very conducive for business growth. A tax resident company that operates in Singapore gets authority exemptions and incentives of tax that makes the business enjoy more of its profits.
The Kind of Business Structures Available to Foreigners
Foreigners who desire to register for company incorporation in Singapore, and do the management on their own must relocate and live in Singapore. They will have to acquire an EntrePass or Employee pass to carry out their duties in this country. It is advisable to hire a local firm that provides Singapore incorporation to do it for them. Some of the structures for foreigners include subsidiary company, branch office, and representative office.
Subsidiary companies enjoy the tax exemptions and incentives just like local companies.
Businesses That Benefit From the Company Incorporation Singapore
Many business people consider establishing their businesses in Singapore because the authorities have favorable tax policies for entities. The tax is levied on the income generated locally, explaining why companies are attracted to form holding companies here. There is no tax on foreign subsidies and capital gains as well.
The logistics and shipping capabilities are also a factor that attracts entities that have an interest in International commerce. If a company sets their trading company well in this case, they will benefit from the tax exemptions on every international sale they make.
Entrepot between East and West
Singapore plays a huge role in enabling the trade between the West and East and as a result of its company friendly system in place.
Singaporeans exploit the geographical positioning to become critical entrepots of the globe. Another important aspect about Singapore is the infrastructure that makes exporting and importing of goods and services simple. From the ultra-modern port facilities to the ease of business operation, it holds the second position as the busiest port hub in the world.
Air transportation is also worth mentioning because it provides international standard air connectivity, particularly to the immersing Asian markets. Even when the world is complaining about an economic slowdown Singapore is performing well as a financial hub. It continues to attract budding entrepreneurs and investors to join the Singapore business incorporation.