Proven Strategy in Singapore Company Registration
Choosing the legal form for your company is the most important issue you need to decide when forming your company as this can have crucial implications on your personal risk in the business as well as the prospects of your business for giving back financial returns. Before deciding on the business form, you may also consider first vital issues such as ease of formation, asset liability, business asset appreciation, and tax obligations. Though you will certainly seek legal advice from your lawyer, it is advisable that you get to know the basics of all the legal forms before you meet your lawyer.
Singapore is getting a lot of very good press, these days. It is therefore not so difficult to promote your goods and services. This also applies to approaching investors about your business ventures. Little by little, people are coming to know more about the benefits of forming a Singapore company. Singapore is considered to be one of the least corrupt countries in the world by many people. Because of this, a competitive advantage is given to business. A company in a country where corruption is not considered to be a problem will most likely be considered by people to set up a business. Company formation in Singapore can be on an even level of competition. One business will not have an unfair advantage over another. More opportunities can be given to everyone involved. Many consider Singapore to have a great deal of tax advantages. They have a low corporate tax rate and the opportunity for tax exemptions also. Singapore also has tax treaties with many countries. This helps to avoid any possibilities of double taxation. There are several ways that a company may be subject to taxes in two countries. This is due to the differences in tax laws and tax structures in other countries. One example is when a country would consider more the place where you are paid rather than on the source of income. If you are a resident of one country and the source of your income is from another country, you may be liable for taxes in both countries. This may not however happen in a Singapore company formation. Singapore has entered into tax treaties with more than 60 countries.
In sum, only certain types of businesses can be applicable to sole proprietorship and an LLP. Sole proprietorship is advisable only for Singapore nationals who want to register a small business and the nature of their products/service do not have liability issues. However, if you are in a service-related business which involves selling your services by way of the profession you hold like an accountant, lawyer, architect, etc. and you have one or more additional partners in a similar profession with whom you would like to partner your business with, an LLP is ideal. But for all these cases, incorporating a private limited company in Singapore would be the best choice.
Rikvin has effectively facilitated the Singapore company formation , Income tax Singapore and Singapore representative office for 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.
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