Advantages of Singapore Company Registration
A properly-structured Singapore company formation is an attractive and tax-efficient corporate structure to conduct international business. A Singapore company has a positive image, thus Singapore company formation is an ideal corporate vehicle in promoting your company to customers, suppliers, investors, venture capitalists, governments and banks. In a tax haven, a Singapore company is not considered an offshore company. Singapore is considered a very reputable, highly regulated jurisdiction when it comes to global trading. In the2010 Corruption Perceptions Index by Transparency International, Singapore is one of the least corrupt countries with equal ranking as Denmark and New Zealand. This survey is the gauge of corruption conducted among public officials and politicians in 178 nations.
A Singapore company that is properly-structured is eligible for tax exemption on profits earned outside Singapore in accordance with the Inland Revenue Authority of Singapore. Moreover, for the first three years of business trading, a company’s profits earned in Singapore amounting to S$200,000 (approximately US$149,000) can be legally tax-exempt. Compared to jurisdictions like the British Virgin Islands or Cayman Islands, Singapore company formation is a more secure long-term solution by reason of the foregoing benefits. Singapore has been voted recently by private companies as the state with the least burdensome taxes in the world, and thus emphasized greatly Singapore’s tax advantages.
A Singapore company has access to 62 countries including Japan, China, Germany, France, the UK and Canada, by reason of comprehensive double taxation treaties. Strong confidentiality laws govern Singapore and after meeting the requirements set by the Organization for Economic Cooperation and Development (OECD), the city state has been stricken off the OECD grey list. After Singapore company formation, no annual statutory audit is needed for every corporate turnover/sales less than S$5 million (US$3.74 million).
Annual sales of a Singapore company exceeding S$1 million (US$748,000) obligate such company to register for goods & services tax (GST) in accordance with Inland Revenue Authority of Singapore (IRAS). By reason of GST registration, a non-resident Singapore company can enjoy refunds from the Singapore government. Foreign investors find Singapore company formation popular in setting up a regional or global headquarters. A range of grants and financial incentives are offered to investors by the Singapore Economic Development Board (EDB. Singapore is the fifth-largest recipient of foreign direct investment (FDI) in Asia, after China and Hong Kong according to the United Nations Conference on Trade and Development (UNCTAD).
Singapore is becoming to be a global private banking and wealth management hub and is growing to be the preferred financial services centre and place to live for the worlds wealthy.
Rikvin offers business solutions for both local and foreign investors or entrepreneurs. One of its specialities is Singapore Company Registration. The company has successfully help hundreds of foreign individuals register a Singapore company. Rikvin has effectively facilitated both non-resident and resident financiers build business firms in Singapore. Incoming calls in our phones are answered by live persons and not by an answering machine. We recognize the importance of your time and we are aware that technology cannot replace a person most especially, when we need to make vital business moves. If you are interested in learning more about Rikvin’s Services kindly email us at info@rikvin.com or give us a call at +65 64838887.
Processing your request, Please wait....
