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Why Singapore Consistently Attracts Foreign Entrepreneurs to Form a Company
Why Singapore Consistently Attracts Foreign Entrepreneurs to Form a Company
Singapore has attracted lots of foreign individuals, entrepreneurs and companies because of its worldwide reputation as a pro-business country.
Singapore,
Singapore,
Singapore
(pr4links.com)
20/10/2010
Singapore has attracted lots of foreign individuals, entrepreneurs and companies because of its worldwide reputation as a pro-business country. 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 startup. The competitive tax benefits of Singapore helped maintain the world class business standing of Singapore.
"The tax incentives which were presented to foreigners are one of the major reasons why they are greatly encouraged to form a Singapore company. A beneficial zero tax for the first three consecutive years are given to new companies in Singapore. In addition,, a further exemption of 50% is also provided on the next S$200,000 of chargeable income," Asiabiz said.
The different business schemes available in Singapore are Sole Proprietorship, a Limited Liability Partnership or a Private Limited Company. The availability of the varieties in Singapore's business schemes added confidence to investors. In Singapore, most companies are incorporated as Private Limited Companies which are usually registered with the Accounting & Corporate Regulatory Authority (ACRA).
Another point of attraction for businessmen to select Singapore within the other countries could be the minimal formalities available registration procedures and the absence of red tape and bureaucracy. However, foreigners will also be informed that simply like all other business locations, they must follow certain foibles within their business registration application and their formal business operations.
Some of the most common requirements which should be complies were briefly mentioned by Asiabiz. The following ought to be complied:
1. The company should 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 will not prohibit 100% foreign shareholding. Regardless of this, Singaporean law requires companies to mention a minimum of one director that's a Singapore citizen, a lasting resident, an EntrePass holder, a jobs Pass holder or even a Dependants' Pass holder. The business's director is also required to have a residential address in Singapore.
"These are just basic and preliminary benefits that foreigners can also enjoy when they choose to create a Singapore company. The supply of high-technological advancement, the risk of achieving a world-class edge against your competitors plus more investment returns have been verified for existing Singapore companies," Asiabiz concluded.
More Information:
AsiaBizServices.com
address: 120 Telok Ayer Street Singapore 068589
phone: +6563034614
website: http://www.asiabizservices.com/
About
AsiaBiz is a company that provides Singapore Company Registration services to local and foreign entrepreneurs and investors and offer consultation regarding the immigration and taxation law, accounting and book keeping requirements, and other compliance matters stated under the Singapore law.
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