Singapore Company Setup Overview
There are several reasons why a Singapore relocation can be a very good move. The IMD ranked Singapore number one in world competitiveness. The IMD is the International Institute for Management Development1, and every year it ranks countries by world competitiveness. The number one spot has been held by U.S. for many years. However, that place is now occupied by Singapore in the 2010 yearbook.
The second place country was Hong Kong, followed by the United States. The IMD observed that Singapore has showed a great deal of resilience throughout the difficult economic conditions world-wide. Singapore has been hit hard by economic difficulties too just like any other country but it was able to pull through and managed to expand into Asia. The first quarter of 2010 showed Singapore’s economy shooting over 13%.
These statistics are built from 320 different things that the IMD takes into consideration. IMD looks at many things such as business performance and infrastructure. Items such as business efficiency and government corruption are also looked into.
When it comes to matters of business competition, many consider the IMD as the foremost authority. Their statistics does not only show competition. They also demonstrate government and business efficiency and overall living conditions.
With Singapore topping the world competitiveness list, it becomes one of the prime candidates for relocation. Relocation brings advantages both to business and to the quality of life.
Immigration: Singapore is well known to have immigration laws that are not restrictive. It is not difficult to get a work visa and to incorporate a business in the country. Because professionals from all forms of business are easily attracted to the country, living conditions in Singapore are greatly improved.
Quality of Life: Singapore consistently scores high in most quality of life surveys and data. Included in this is the 2Mercer Human Resource Consulting data. This is due to several reasons. It is important to consider high standard of living. Coupled with this is very low crime rate and an excellent education system . It is a good place to do business and to raise a family.
Adding to the features of Singapore is its very good health care system and excellent recreation and entertainment facilities.
Personal Income Taxes: Singapore has some of the lowest personal income tax rates in the world. There are different tax rates between residents and non-residents. The tax imposed may be a flat rate of fifteen percent or the graduated rate. People may avoid double taxation by taking advantage of tax treaties and certain exemptions.
Expenses for relocation may be deducted after you have relocated to Singapore. They include the following:
1. Shipping charges for moving personal possessions
2. Temporary lodging costs
3. Moving in expenses like new bedding and appliances
4. Cost of airline tickets for you, your family, and any pets.
Rikvin has effectively facilitated Singapore company setup , Income tax Singapore and form a Singapore company 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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