* Partner Post
Singapore is a favourite destination for foreign investors interested to set up a new business or to open a new office of their existing business. The government has ensured that the process of business registration is easy and fast because business it is all about earning quick revenue which is only possible when starting up is fast. In addition, the business climate of the country backed by its long-standing political stability has acted as special incentives. Indeed, there are many commercial incentives that the government offers in the form of different types of tax benefits. With a streamlined administrative process in place together with several financial incentives, Singapore remains an unbeatable destination for foreign investors who are making a bee-line to the country to reap the benefits of quick business start-up.
Tax benefits
Taxes often eat away a sizeable portion of business profits which make investors wary of investing in business in countries that impose high taxes. Singapore is an exception in this respect because it offers several tax benefits to attract investors. A new company enjoys tax-free profits up to SGD 100,000 while the tax payable on profits between SGD 100,000 to SGD 200,000 is 8.5% only. When company profits exceed SCD 300,000, the tax payable is 17%. There are no capital gains tax payable, and the same applies to the dividend paid to shareholders.
From the very first day, businesses enjoy full revenue earning and the sooner you can set up business faster will the profits flow that business owners can enjoy to the fullest as they do not have to pay taxes.
How to make a quick start
To ensure that you can take advantage of the simplified procedures for starting up business, you must engage a local professional company that offers all round Singapore Company Registration Services. The company knows the ins and outs of what needs to be done for registering a foreign business in Singapore and will take complete responsibility to ensure that things work in the way planned. Since they have access to a pool of local resources, they can make all arrangements to ensure all legal compliance by providing comprehensive administrative and secretarial support to fulfil the requirements of the Companies Act.
Leave the job to the best people
You have to enrol with the secretarial company, pay their fees and leave the rest upon them to work with you as a partner for meeting your goal of quick business registration. They will help you in everything from choosing the right name to fixing up a registered address that goes up to the opening of bank accounts which signals the beginning of a happy business journey.
Whether you want to open a sole proprietorship company, private limited company or a limited liability partnership company, the mentor company offering secretarial services knows the requirements exactly and does a professional job to ensure quick registration.
Any size of business would benefit by starting up in Singapore because to register a company the paid-up capital requirement is only SGD1 which demonstrates the government's eagerness to welcome business.
