Singapore has made great strides in becoming one of the top countries in the world for business. Among other things, Singapore offers a quality lifestyle for all of its citizens, corporations and individuals pay low taxes and the country itself offers a vibrant and educated workforce. Above all else, it is extremely easy for foreigners to setup a Singapore company.
Location is Everything
It is true that location is everything in business and Singapore provides a strategic location for those who wish to do business in Southeast Asia.
Singapore’s International Airport serves over fifteen million passengers annually. Such experience has taught Singapore an important lesson in efficiency and their airport has been constructed to be one of the most efficient airports in the world. It was recently ranked by major authorities on the subject matter as the best airport in the world for over twenty years.
This efficiency has been carried out in other various parts of the country. They operate an easy-to-use public transportation system which can get you from one side of the city to the other in a matter of minutes and their roads are set up for ease of use by commuters.
SINGAPORE CHANGI AIRPORT
Singapore offers business owners and entrepreneurs alike a simplified tax system.
The individual tax rate depends on the gross yearly income. The rate can range from zero percent to twenty percent for individuals with an income of over 300,000 Singaporean dollars.
The tax rate for those who wish to start the Singapore incorporation process is even more attractive. Businesses who have an annual income of up to 300,000 Singaporean dollars are taxed at a rate of nine percent. Businesses whose annual income exceeds 300,000 Singaporean dollars are taxed at a capped rate of seventeen percent.
A Strong and Intelligent Workforce
One of the most important factors in deciding where to setup a business registration is the quality of workforce.
Singapore boasts a highly educated and motivated workforce. Their citizens thrive on a good education and high quality of work that they put out on a consistent basis. Another factor that makes their population so strong as a workforce is the influx of international workers. Many qualified individuals from other locations in Southeast Asia migrate to Singapore for a better life and more employment opportunities.
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