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Reasons Why Most Foreign Investors Prefers to Form a Singapore Company
Reasons Why Most Foreign Investors Prefers to Form a Singapore Company
The popularity of Singapore in terms of being a pro-business country provides a strong attraction for foreign individuals, entrepreneurs and companies.
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(pr4links.com)
21/10/2010
The popularity of Singapore in terms of being a pro-business country provides a strong attraction for foreign individuals, entrepreneurs and companies. Various business structures which are made available by the Republic of Singapore provided a lot of options for foreigners thus resulting to a more comfortable business start up. Singapore also builds up popularity by its very competitive tax benefits.
"The tax incentives which were presented to foreigners are one of the major reasons why they are greatly encouraged to form a Singapore company. For the first three consecutive years, new companies in Singapore are required to pay zero taxes on the first S$100,000. In addition,, a further exemption of 50% is also provided on the next S$200,000 of chargeable income," Asiabiz said.
Foreign investors also gained enough confidence on the different available business structures such as Sole Proprietorship, a Limited Liability Partnership or a Private Limited Company. Accounting & Corporate Regulatory Authority (ACRA) accepts the registration of private limited companies, the common type of company incorporated in Singapore.
Another point of attraction for businessmen to select Singapore within the other countries could be the minimal formalities in the business registration procedures and the absence of red tape and bureaucracy. However, foreigners may also be informed that simply like every other business locations, they are required to follow certain rules and regulations within their business registration application and their formal business operations.
Probably the most common requirements which ought to be complies were briefly mentioned by Asiabiz. These needs to be complied:
1. The business enterprise will need to have a minimum of one shareholder, one resident director and something company secretary.
2. Minimum initial paid-up share capital of $1
3. Registered office address positioned in Singapore.
The nation doesn't prohibit 100% foreign shareholding. In spite of this, Singaporean law requires companies to name a minimum of one director this is a Singapore citizen, a permanent resident, an EntrePass holder, an employment Pass holder or perhaps a Dependents' Pass holder. The business's director can also be required to possess a residential address in Singapore.
"These are just basic and preliminary benefits that foreigners can also enjoy if they choose to form a Singapore company. The provision of high-technological advancement, the risk of achieving a world-class competitive edge plus more investment returns have been proven for existing Singapore companies," Asiabiz concluded.
More Information:
Asiabiz is an ACRA registered service bureau. We provide a complete corporate solution under one roof for Singapore Company Setup, assistance to Register a Singapore Company, formation of offshore companies with opening of corporate accounts, business registration including accounting, tax, immigration related to work passes visa and compliance services in Singapore.
AsiaBizServices.com
address: 120 Telok Ayer Street Singapore 068589
phone: +6563034614
website: http://www.asiabizservices.com/
About
Asiabiz Services Pte Ltd
120 Telok Ayer Street
Singapore 068589
Phone: (+65) 6242 6533
Fax: (+65) 6303 2670
E-mail: sales@asiabizservices.com
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