Every year, the World Bank releases the Ease of Doing Business Report based on a survey conducted amongst 190 countries. For over 10 years, Singapore has ranked among the top 3 countries in the world owing to its business-friendly policies and access to top-of-the-class startup infrastructure.
It is no secret that many entrepreneurs from several emerging economies are moving to Singapore to take advantage of its conducive environment that allows companies to incorporate and expand. The rich cultural mindset, robust economy with excellent tax structure and stable political climate have made Singapore one of the top business destinations in South-Asia.
Businesses are booming in Singapore. Be a part of the dynamic culture. Read through Incorporation Services provided by PikoHANA: Corporate Services in Singapore
In today’s post, let us talk about the many reasons why you should choose to let your business incorporate in Singapore.
Get Access to the Best Startup Resources
Looking at the present startup situation in Singapore, one could easily say that the country is becoming one of the hottest Startup terminals in South Asia. With several hundred businesses launching in the country every year, Singapore is swarmed with investor networks that are ready to fund promising businesses.
Once you manage to mitigate the risks of corporate non-complianceby taking help from corporate secretarial service providers and incorporate in Singapore, you get access to global Venture Capitalist funds that have an extensive presence in Singapore.
Skilled Workforce to Aid in Your Growth
According to a report released by the World Bank, Singapore ranks on the top for developing human capital. Strong human skills are a must-have for businesses to make their mark in the industry. When you incorporate in Singapore, you can get access to a skilled, innovative workforce for a reasonable investment. Singapore’s liberal immigration policy gives access to highly skilled individuals to work in the country, thus adding to the talent pool. The Government too has come up with subsidized labor cost policies for any incorporate Singapore company that chooses to settle down in the country.
Attractive Tax Structure of the Country
The Singapore Government has made it easy for businesses to support and grow in the country. There are a bunch of Free Trade Agreements and Double Tax Avoidance Agreements signed by the Government with several other countries, to facilitate trading across borders. For incorporate Singapore companies, the tax structure is lenient as it reduces tax across barriers and has completely eliminated capital gains and dividends taxes.
Companies incorporating in Singapore often need to remain compliant with the country’s unique rules. With corporate secretarial services at their disposal, these businesses can easily be a part of the lenient corporate tax system of the country.
Excellent Connectivity and Strategic Geographic Location
Again, Singapore is ranked the top country in Asia with respect to logistics and performance by the World Bank. The most important emerging economies of the world are a short airplane ride away, which makes the country one of the most booming places to incorporate your business. With access to excellent transport facilities at a cheap rate, you can simultaneously do business with countries like China, India, and Malaysia and expand the boundaries of your company to new horizons.
Full Protection by Rule of Law
Any incorporate Singapore Companygets access to strong and healthy protection of contract law in the country. Being ranked at the third place in the list of least corrupt countries in the world, when you incorporate in Singapore, you can be assured that the intellectual and monetary capital you develop and build in the country will rightfully be yours and will not be taken away arbitrarily.
Extensive Protection of Intellectual Property
When it comes to a company’s intellectual property, it can anything ranging from the company name, logo, patents, trademarks or intellectual designs and inventions. When you move your business to another country, you should know for sure that all the Government will allow a foreign Startup to create, develop and preserve their own resources.
For any company incorporated in Singapore, the Government helps them protect their intellectual property by giving them access to the company’s efficient legal system. There is a special ‘IP Hub Master Plan’ prepared by the Singapore Government to protect the Intellectual Property rights of business through a modern, legal framework.
Seamless Incorporation Process
When you are looking to set up business in a foreign country, there are many factors that should be taken into consideration before finalizing on a destination. One of the most important factors to ponder upon is the ease of incorporation. Singapore has one of the most productive, versatile and bureaucratic red-tape free incorporation regulations in the world. To incorporate in Singapore, it only takes one day after the initial paperwork as the process is straight-forward and is created by keeping the interest of businesses in mind.
Incorporating your company in Singapore has never been easier. With PikoHANA, you can avail access to easy and affordable company incorporation and corporate secretarial services in Singapore. Since you are supposed to have a local Director in your company board, PikoHANA also assists you with the process of establishing nomination of local resident Directors.
In conclusion, if you decide to move your business and incorporate in a new country, it is only normal to have a multitude of doubts around it. In the short term, moving your business to Singapore can be a great way to build a huge capital because of the number of tax cuts and monetary concessions that the Government provides to incorporate Singapore companies in their initial years. Again, to think of the advantages in a long term basis, the excellent infrastructure of the Singapore that comprises of state-of-the-art, modern buildings, and transportation facilities can immensely add to the reputation of your business, hence allowing you to associate with other businesses and expand your presence in the industry.
Learn more about incorporating your business in Singapore here: What are the filing requirements for a private limited company in Singapore?