Singapore is one of the countries in the world with high per capita GDP.
Singapore is well positioned in this modern world to take advantage of the middle class growth of both China and India and being next door neighbours to the up and coming Indonesia, Singapore is one of the best place to start a business.
Being positioned in one of the busiest straits in the world and having a mixed culture of many racial groups Singapore has been taking advantage of this Asian rise to grow and become one of the leading Economies in the region.
There are quite a number of reasons why many have come to Singapore to set up shop and Koh Management is one of the best place to register businesses in Singapore
1. Favourable Tax System for Business owners
Singapore has one of the best tax systems in the world. Capital gains are not taxed in all forms, you can buy stocks and shares and any gain in share prices are capital gains and automatically NOT taxed under the Singapore Tax laws.
And when you set up a company in Singapore, the first SGD$100,000 in PROFITS are not taxed for the first THREE years! Yes, that’s $300,000 of income not taxed on the company, to promote entrepreneurship in Singapore.
Top earners of the economy making above SGD$320,000 are only made to pay 20% of their earnings in taxes and there are also reliefs to reduce tax burdens.
2. Efficient Banking and Government
Singapore’s government has always pride itself for being one of the most efficient in the world and this translates to the fast and efficient setting up of a business entity. With documents and identification in place, a company registration in Singapore can be done in a matter of just ONE day! Bank accounts if done at the branch can take up to 2 days to be ready and for branch representatives to visit you and get it done it would take about 3 days.
This makes a whole lot of difference because time is money and when it comes to making things fast, there is none other than Singapore that we can make things done the fastest.
This makes the whole process very fast and easy for the jet setters to fly in for a few days, setup the company and jet off to find business elsewhere
3. Good Position for Asian Growth
It is the century of Asia with China and India growing at breakneck speeds and also the up and coming of Indonesia as of the fastest growing middle class population in the world. Singapore is well positioned to take advantage of this growth and provide goods and services to the exploding growth.
Singapore was the pioneer member and main member of the Association of Southeast Asian Nations (ASEAN) and have been pushing for the integration of the South East Asian nations through economic agreements and treaties.
With more plans coming up, doing business with Singapore will be even easier and we also see how the majority Chinese population has positioned Singapore as a preferred location for Chinese tourist.
For rich entrepreneurs who do not want to start from ground zero you could also choose to find businesses for sale in Singapore and take advantage of the business to grow your current models.
If you’re looking for a location to run your international business from and to be ensured of the safety and proper running of it when you are back home running your own business. Look no further from Singapore.
