Are you planning to start a company? Then Singapore should be the place you must choose to start your business. Known for its outstanding contribution to the global business and economy- the sunny Asian island welcomes entrepreneurs from all across the world to come here and do business.
We are happy to guide promising entrepreneurs visiting us from across the globe with the zeal and dream of investing in our land. Singapore will never let you down as this island country is the gateway to reach your goal. To make your dream of starting a business of your own, you need to know some reasons that why Singapore should be your chosen destination for establishing your startup.
Here, we have enlisted some of the most crucial reasons for choosing Singapore as the best place to start your company—
It’s convenient to work with the business-friendly government
Working with the Singaporean government is very easy as it is business-friendly, corruption-free and is welcoming prospective international entrepreneurs to choose Singapore as their business destination. For this reason, the government has ordained flexible law for the foreign investors. You’ll not to face much hassle while registering the company. Only, you need to follow some clauses such as hiring a Singaporean company secretary and the CEO with the permanent residency in this country.
Convenient Tax System
Both the local and the foreign entrepreneurs in Singapore are happy with the easy tax system of this business-friendly country. In Singapore, there is no capital gain taxation. The Value Added Tax or the VAT rate is only 7% which is pretty less compared to other countries. The corporate tax is taken around 17% for the profits more than $300,000 approx. compared to the other countries Singapore’s tax rate stands to be the lowest globally.
The corruption-free pro-business zone
Popular globally for being the corruption-free country – the Singaporean government has prepared the island country as the perfect model of any super business hub. Equipped with all the relevant infrastructure and facilities – our country is the ideal business zone where you would definitely wish to start a business.
Immigration policies are also flexible
Foreign entrepreneurs need to have the Entrepreneur Pass (EntrePass) to visit Singapore and register their businesses. It is not that they have to stay in the country to run the business rather they enjoy the freedom to run their business from anywhere.
Hopefully, these pointers are enough to convince you for choose Singapore for your business.