The availability of competitive financial services and the government’s business friendly attitude makes Singapore an extremely attractive place to set up shop and register your company. In 2013 it ranked 4th as one of the world’s leading financial hubs in terms of competitiveness. It offers an impressive array of financial products and services such as insurance, investments, bonds, equities, derivatives, and asset management helping businesses put their assets to work effectively. On top of these, the pro-business policies of the government, such as tax exemptions and incentives, make Singapore an extremely attractive place to transfer either headquarters for large multinationals or a maiden office for small firms.
Stability of the financial markets
While the financial sector experience upheavals just like any other modern economy, there is no doubt that, at least in the Asia, it is most robust in Singapore. Despite the recent slowdown in Asia’s overall economic performance, asset management companies remain bullish. Manulife, for example, maintained its 14% growth despite the whole manufacturing industry shrinking by 7.8%. This kind of stability in the middle of a volatile economy is the closest thing to an assurance of success to companies who wish to start up business in Singapore.
Government incentives and support
Government support is also a huge part of the come-on of Singapore for new businesses. The small nation state is one of the easiest places on earth to register and launch a business. Furthermore, it has 76 avoidance of double taxation agreements to help companies conduct their business internationally without having to worry about getting taxed twice. The nation state also has 40 investment guarantee agreements and 22 free trade agreements including the TPP. All of these agreements help companies maximize their savings on operations costs that accumulates overtime to amount to a huge amount of money. Aside from these incentives, Singapore’s strict implementation of intellectual property laws help business owners maintain a peace of mind that their ideas won’t be burgled.
How to incorporate your company in Singapore?
Talk to us ! (Contact form below) We work with business registrars and lawyers who can advise and assist you in incorporating your business or company in Singapore. Talking to business consultants and lawyers ensures that you know exactly what you are getting into and what to expect before you take the plunge.
There are a few pertinent documentations that you have to accomplish before registering your company.
- Company name
- Brief description of business activities
- Shareholders’ particulars
- Directors’ particulars
- Registered address
- Company secretary particulars
If you’re a local, these are all you have to do to register. However, if you’re a foreigner you must register through a Singaporean firm because laws require it.
If the company name is approved, only a few hours is needed upon full submission of requirements to fully register. On certain occasions, you may have to submit additional files but generally, these will be the only requirements. These can be done without even setting foot in the country. It’s a stress-free process because ease of doing business, after all, is part of the reason why people want to start a business in Singapore in the first place.
Types of businesses
You can have your businesses registered as one of the following:
- Sole proprietorship
- Limited partnership
- Limited liability partnership
- Local private company
- Local public company
- Foreign company
Each of their features of the various businesses are shown in this website.
If you require advice on registering a business, get in touch with us below :
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