With latest tax incentives, pro-business policies, streamlined regulations and booming economy, Singapore is fast becoming the top draw for global entrepreneurs and investors to setup their business.
Singapore, Republic of (Press Release) January 16, 2008 --
(Singapore) January 16, 2008 - With latest tax incentives, pro-business policies, streamlined regulations and booming economy, Singapore is fast becoming the top draw for global entrepreneurs and investors to setup their business.
In a recent joint survey by the World Bank and the International Finance Corporation, Singapore was rated as the world's best place for incorporating and doing business. International institutes have consistently ranked Singapore in the top positions for its legal and regulatory framework that encourages fair and free competition among enterprises.
The growing number of global entrepreneurs and foreign companies incorporating business in Singapore is confirmed by business service providers such as accounting, corporate secretarial and legal firms in Singapore. According to various firms, the flow has increased between 20% to 50% compared to last year. This amplified level of activity is contributed primarily to favorable business environment, attractive tax incentives, low taxes in general and ease of incorporating and operating a Singapore company.
'Today more than 26,000 international companies call Singapore home. Foreign companies and entrepreneurs from countries that exhibit high tax rates or restrictive business environment are particularly attracted to Singapore. Clients from many of the Asian and European countries are fast recognizing the benefits of incorporating in Singapore”, said Samir Malhotra, head of business strategy at AsiaBiz – a firm focused on Singapore company incorporation and related corporate services.
The increasing popularity of Singapore as a business and tourist destination can be also measured by the number of people traveling to Singapore every month. According to the last month’s statistics, this number has swelled to more than 750,000 travelers a month.
The trend is further facilitated by Singapore’s relaxation of its immigration policies designed to facilitate the relocation of foreign entrepreneurs and professionals through schemes as Entrepreneur Pass. Pass holders are eligible for permanent residence and Singapore citizenship in due course. In addition to investing heavily in infrastructure and human capital to meet global competition, Singapore is focusing on developing Singapore into the 'talent capital' of the global economy.
Earlier this year, the Republic of Singapore implemented attractive tax exemptions for small-to-mid size companies and further reduced the overall corporate tax rate to 18%. According to various reports and statistics, Singapore consistently ranks as one of the top most competitive and profitable places for business investors. Singapore also holds top spot as the best place in Asia for expatriates to live.
All of this is good news for those looking for low taxes, clean regulatory system, high quality of life and a lucrative place to incorporate and base their business.
In a recent joint survey by the World Bank and the International Finance Corporation, Singapore was rated as the world's best place for incorporating and doing business. International institutes have consistently ranked Singapore in the top positions for its legal and regulatory framework that encourages fair and free competition among enterprises.
The growing number of global entrepreneurs and foreign companies incorporating business in Singapore is confirmed by business service providers such as accounting, corporate secretarial and legal firms in Singapore. According to various firms, the flow has increased between 20% to 50% compared to last year. This amplified level of activity is contributed primarily to favorable business environment, attractive tax incentives, low taxes in general and ease of incorporating and operating a Singapore company.
'Today more than 26,000 international companies call Singapore home. Foreign companies and entrepreneurs from countries that exhibit high tax rates or restrictive business environment are particularly attracted to Singapore. Clients from many of the Asian and European countries are fast recognizing the benefits of incorporating in Singapore”, said Samir Malhotra, head of business strategy at AsiaBiz – a firm focused on Singapore company incorporation and related corporate services.
The increasing popularity of Singapore as a business and tourist destination can be also measured by the number of people traveling to Singapore every month. According to the last month’s statistics, this number has swelled to more than 750,000 travelers a month.
The trend is further facilitated by Singapore’s relaxation of its immigration policies designed to facilitate the relocation of foreign entrepreneurs and professionals through schemes as Entrepreneur Pass. Pass holders are eligible for permanent residence and Singapore citizenship in due course. In addition to investing heavily in infrastructure and human capital to meet global competition, Singapore is focusing on developing Singapore into the 'talent capital' of the global economy.
Earlier this year, the Republic of Singapore implemented attractive tax exemptions for small-to-mid size companies and further reduced the overall corporate tax rate to 18%. According to various reports and statistics, Singapore consistently ranks as one of the top most competitive and profitable places for business investors. Singapore also holds top spot as the best place in Asia for expatriates to live.
All of this is good news for those looking for low taxes, clean regulatory system, high quality of life and a lucrative place to incorporate and base their business.
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