Incorporate company Services in Singapore

For many years, a lot of entrepreneurs and business owners choose to incorporate company in Singapore because of its wide array of benefits. It has a strategic position, modern and state-of-the-art infrastructures, and a multi-cultural workforce. It also holds the ranking of one of the world’s easiest places to do business. The country has a robust economy and is able to maintain low inflation while having a very low unemployment rate. Here are more reasons why Singapore is a great place for incorporating a company:

  •           Singapore has a great geographic location serves as a gateway to major economic countries in the world. In fact, the world-class Changi Airport is one of the busiest in the world which caters to around 20 million passengers each year.

  •            The tax system in Singapore is simple and rational. They do not collect tax on dividends or capital gains from a business.

  •           Foreigners are allowed to completely own the stocks of a Singapore incorporated company. They can start a business based on their preferred capital structure. 

  •       There are also no capital restrictions to determine how much you want to invest from their home country to Singapore.

  •           Incorporation is efficient, straightforward, and simple. It has a bureaucracy-free regulatory framework and in most cases, it will only take less than a day to complete the entire procedure.


Business Registration in Singapore

If you plan to build a company in Singapore, you are required to register with the Accounting & Corporate Regulatory Authority (ACRA). Abiding by the Companies Act is also mandatory. You can choose from 5 business entities and which one works for you. The first one is sole proprietorship which suits small businesses and run by a single individual. Another is a partnership which has a similar structure with sole proprietorship in terms of taxes, liability, and structure. The difference is it is owned by two or more partners. The third option is a limited partnership for partnerships that prefer a degree of limited liability. The next one is limited liability partnership (LLP). In this type of business, the liability of an individual partner is limited and they are taxed based on their personal income rate. The final type is a private limited company which is the most common in Singapore. It is a separate legal entity and is preferred because its members are not held personally liable for the company’s losses or debts. When registering business in Singapore, it is recommended to get the help of professional services for proper documentation and compliance.

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