7 Reasons Why Register Company in Singapore
Over the years Singapore has provided a proper and conducive environment for doing business both for international and local businesses. The business laws are in place, there is adequate workforce, and the market is ever growing. Opening business in Singapore is a plus with high chances of success.
We are addressing reasons why register business Singapore is the best choice you can ever make.
Here are seven reasons:
Number one Place for Doing Business
Prominent reports like that of the World Bank group classify Singapore at the top two under the category of “Ease of doing business.” This means that the business environment of Singapore is the most conducive.
Tax rates are Affordable
The tax rates affect business. In Singapore, these taxes are comparably low. The corporate tax is at 17%, and the Goods and Service tax is at 7%. These taxes rank Singapore among the top 10 in the world by the economic forum report. Shareholders are not taxed after the tax is deducted at the corporate level.
Availability of Telecom and Internet Facilities
The Internet is a necessity for companies that require international transactions. Not just that. It is also paramount that communication is in place for access to material, to keep in touch with clients and so on.
Singapore provides very high speeds of the internet all over the country with telecommunication infrastructure. There are internet companies that have launched up to 2Gbits high-speed fiber internet connections.
For any profitable venture, you need to get a workforce that is efficient, skilled and affordable. Singapore is the right place to get that. More than 54% of Singapore workers are highly skilled based on research by World Economic Forum. In the entire Asian continent, the workforce in Singapore stands out as the best and most motivated.
Affordable and wide transportation network
Singapore has a great internal road network that allows movement of vehicles to the interior parts of the country. Besides, Singapore has the best airport in the world and the busiest seaport. The airport has direct connections to the developed countries and developing economies like America, Europe, the Middle East, China, India and Southeast Asia.
Flexible Immigration Policies
If you are planning to move permanently to the place you want to build your business, then Singapore is the best option. For value adding individuals, the government has made a provision for work permits that can be accessed easily. In addition to that, the procedure of processing Permanent Residence (PR) is really flexible.
Incorporation Process is Easy
To successfully register business Singapore, you must contact a professional firm from Singapore to register the company. Foreigners cannot directly register their companies. This can take three days in three steps according to the provisions of the law, and this will cost you less if you compare this with other countries.
Now you know Singapore is very open for business opportunity and not just that it is a vibrant economy that is ever evolving at the same time.