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Singapore is one of the leading Asian countries for business and commerce and has been rated as one of the best business environments in Asia Pacific. It’s no wonder that small and medium sized companies and even big conglomerates from across the globe surge to this tiny nation.

However what Singapore lacks in size or land area it makes up for it in so many ways namely its world class infrastructure, robust economy, impeccable business-friendly reputation just to name a few. Singapore also consistently scores high marks in global and regional rankings of the factors that matter to businesses all over. The country is currently ranked as of the the most competitive place to do business.

So if you are thinking of incorporating a company here are more reasons why you should consider incorporating your company in Singapore:

• Singapore consistently scores high marks in global and regional rankings of the factors that matter to businesses. The country is currently ranked as of the the most competitive place to do business.

• Singapore consistently scores high marks in global and regional rankings of the factors that matter to businesses. The country is currently ranked as of the the most competitive place to do business.

• A Singapore company incorporation offers cost effective business solutions for companies and entrepreneurs wishing to establish a presence on the Asia-Pacific Region.

• The corporation is treated as a separate legal entity from its shareholders. With this, a corporation can enter a contract, acquire a property, and purchase supplies under its name. And because the business is treated like a real person, it is usually named in a lawsuit instead the company officials or shareholders (who are too many to mention).

• Shareholders enjoy limited liability. Limited liability means that the personal assets (such as houses, cars, and properties) of each shareholder are protected from debts, losses, and liabilities related to business. This means that in case of bankruptcy, only the business assets can be liquidated and not the personal assets.

• Continuous existence. The corporation will continue its existence even if one or more shareholders die or some board of directors and officials leave the company. This is not the case for the sole proprietorship in which it will cease its existence once the owner dies.

• Capital incentives. Corporations that have opened their shares to the public can provide the key employees with incentives and bonuses through ownership. With this arrangement, the employees will most likely stay in the company and will be encouraged to maximize their productivity.

• Easy to raise funds. Corporations can raise more funds for expansion without having to loan from the banks that is usually associated with high interest rates. By making their ownership open to the public, they can raise capital which can be used for business expansion

• Tax benefits. For corporations which remain “private”, they can enjoy zero tax on the first $S100,000 chargeable income within the first three years of incorporation. Another 50 percent tax exemption is awarded on the next $S200,000 income.

• Efficient operational structure. Shareholders have the right to appoint a board of directors whom they think have the capability and knowledge to run a business. After the voting process, the directors will then select among themselves on who will be the secretary, CEO, vice president, treasurer, etc.

ABOUT THE AUTHOR

Rikvin has successfully helped hundreds of both foreign and local entrepreneurs incorporate a Singapore Company. The firm provides a complete corporate solution under one roof which includes assistance to register a Singapore company, with the opening of corporate accounts, business registration including accounting, tax, immigration related to work passes visa and compliance services in Singapore.