Starting a business in Singapore

If you are a foreign or local entrepreneur looking to set up a business, Singapore is an ideal location to start because it offers you excellent access to all the major Asian markets and global connectivity. Businesses flourish in a pro-business environment:

1. Singapore is strategically located in the heart of the ASEAN making your start up accessible to a population of 2.8 billion within a 7-hour flight radius

2. Singapore’s tax regime is one of the most attractive globally. Its corporate tax rates are very competitive, it is capped at 17% for all businesses. Moreover, the IRS  offers companies tax exemptions and tax incentives.

3. Businesses have access to a highly skilled workforce. Human capital is especially important if you are starting a business. Fourthly, 

4. Singapore offers a high level of security. With an efficient legal system and a stable government, there is no threat to the going concern of start ups and established  businesses.

There are 3 main business entities in Singapore, namely Sole Proprietorship, Partnership and Private Limited Company. The most common entity is the Private Limited Company, which is a business entity registered under the Companies Act, Chapter 50. A Singapore Limited Company exists as a separate
legal entity from its members. This means that business owners have limited liability and their personal assets are protected from liabilities of their business. A company has rights to own properties, has perpetual succession and can sue or can be sued in its own name.

Starting a business in Singapore is quick and easy, it only takes 1-2 days to incorporate your business. It is as simple for foreign entrepreneurs to start up business as it is for local residents. Join us and companyformation.com.sg will help you every step of the way.