In the latest years, Singapore presents itself as a very interesting destination for worldwide investors. It is not only his geographical position in Asia which facilitates the access to a market of almost 3 billion of people. The quality of lifestyle makes it a place pleasant to live in, as our accountants in Singapore notice.
It is a safe place and it has a healthy and green environment. High-quality health care services, transportation facilities (public and private), the culture of work and education, all these make Singapore an easy-to-accommodate place for the whole family.
The stable political climate supported by its laws and regulations oriented to make Singapore an important industrialized economy. The official leading agency is the Economic Development Board, oriented to design solutions to the benefit of investors companies and jobs opportunities.
Singapore presents a whole range of economic opportunities
The taxation policies keep the lowest rate of taxations for corporate income and personal income. The biggest rate for corporate income is 17%, for profits above $S 300,000, going down to the 9% for profits under this amount. The personal income tax starts at 0% and grows up to 20% if income gets higher than $S 320,000. Capital gains are not subject to taxation as corporate income has already been taxed – it is a single-tier tax policy. Our accounting firm in Singapore can provide more details on this aspect.
It is very easy to incorporate a company: it takes about only 1-2 days to start doing business in Singapore and the information regarding the procedure are available on the official sites to any interested party.
Other reasons why you should invest in Singapore
Regarding the relocation policy, there are simple procedures to follow. Singapore work visas are available for professionals. As an entrepreneur, if you need to hire professionals abroad, you will need to apply for a Singapore residence permit on their behalf.
Intellectual property is protected by copyright laws. Singapore is part of the international conventions and treaties so the company can fill in the Global Trademark Registration.
The workforce is another strength of Singapore: the locals are well educated and qualified and the professionals from abroad who choose to work here have brought expertise and know-how, making it an international and cosmopolitan one.
All these aspects recommend Singapore as a very attractive environment to start and develop a successful business, professional and personal life.
If you need to know more reasons why you should invest in Singapore, or for any accounting issue, please contact our accounting services firm in Singapore.