Financial, technology and trade hub of the Far East, Singapore is a strategic location to set up your business if you’re planning to expand in the Asian market.
Our experts at Kelmer Singapore have analyzed and highlighted the benefits Singapore provides to startups and entrepreneurs.
Singapore has one of the world’s simplest tax system. Singapore uses a tiered tax system for both personal and corporate taxes. New setup receives significant tax benefit in its first 3 years by reducing it tax payable. For all companies, the corporate tax rate is capped at 17% with deduction that make the effective rate close to 10%.
Similar to corporate tax, personal tax is using a tiered system too. Personal tax starts at 0% and rises gradually and moderately to a maximum of 22% for incomes above $320k in a calendar year. Corporate profits are not double taxed when the shareholders receive them as dividends. Moreover, there is no worldwide taxation.
Singapore has an extensive and vast network of Avoidance of Double Taxation Agreements (DTAs). A DTA spells out the taxing rights between Singapore and her treaty partner on the different types of income arising from cross-border economic activities between the two jurisdictions.
Singapore allows 100% foreign ownership. There is also no restriction on the amount of capital that you would like to invest in your Singapore company.
Singapore also adopts very pro-growth and innovation friendly policies which provides many grants, tax incentives and in-kind assistance schemes to startups.
Impressive and astonished world-class infrastructure, such as the international airport, highway system, train and public transportation, internet, commercial buildings, hotels and parks. These modern and newly developed infrastructure are creating a pleasing work environment and have contributed to the productive workforce of the country.
English language is widely used in Singapore business world and education system. Hence, nearly every Singaporean is competent in communicating in English and also other languages.
Singapore has one of the world strongest financial system, which can benefit from political stability, modern infrastructure, highly developed legal and regulatory framework and strong macroeconomic fundamentals.
What we can do for you
Thanks to a team of experienced professionals, with a deep understanding of the local system and a wide network of contacts, Kelmer Singapore can assist you in every step of the internationalization process, from incorporation to accounting and day-to-day activities.
Find all our services on http://www.kelmer.com/singapore.html
Email our experts at firstname.lastname@example.org for a personal consultation