While the global economy may have hit a recession, many resilient entrepreneurs are still looking for opportunities to start their own business. If you regard yourself as an entrepreneur who never gives up, consider running a business in Singapore. With business-friendly policies and politically stable environment, this country consistently ranks as one of the best places to start a business or expand your operations.
This article explores 4 great reasons on what makes Singapore attractive to overseas investors and firms.
1. Policies that enable businesses to succeed
As a foreign investor, you can have up to 100% non-local shareholding in a company incorporated in Singapore, with no limits as to how much you can repatriate in profits.
If your business is a start-up, there are many schemes that can help you thrive. Programs like Startup SG can help you to build capacity, mobilise funding, and grow successful teams for your business.
2. Great location and skilled talents
Singapore is a fantastic geographic location with one of the world’s best airports, highways, seaports, rail network and telecommunications system. It is the gateway to the ASEAN region.
In Singapore, many citizens are bilingual and highly educated. The local workforce is recognised for its high level of education, technical proficiency, work productivity and work-hard culture. They are also joined by other professionals from across the globe who bring with them their extensive knowledge and business expertise. You will have plenty of talent options when it comes to hiring and forming a successful team.
3. Fantastic tax regime for businesses
Singapore applies a tiered corporate tax system, where new firms are able to receive tax breaks after incorporation for the first 3 consecutive assessment years. In addition, Singapore’s 17% corporate tax is also one of the lowest in the world.
By contacting and working with an audit firm in Singapore, like Ackenting Group, we can provide you with all of the financial and accounting tools to help you get your business started. Financial statements and risk analyses are important for new companies. As your one-stop financial solution, we provide your business with all of the financial information and tax accounting services you need. You will always be on top of any market trends and development, and focus on expanding your business in Singapore.
4. Higher quality of life
For foreign-born professionals and entrepreneurs who are bringing their family along as they relocate to set up their business in Singapore, the quality of life is often an important factor as well. Singapore has a convenient and reliable public transportation network, quality healthcare, excellent schools and generally a safe living environment. There are also various support schemes for entrepreneurs, businesses, and corporations to ensure they are able to thrive and do well in Singapore.
Speak to an experienced firm in incorporation services to ensure a smooth and quick business registration. We at Ackenting Group can help you get your business up and running in Singapore while providing constant communication to guide you through this hassle-free and simple process of company incorporation. In addition, we also offer a one-stop financial solution for businesses through our accounting bookkeeping services, tax accounting services, and other financial services for any business or financial needs.
If you require any assistance on accounting services, feel free to drop us an email at email@example.com or contact us at +65-66358767. At Ackenting Group, we offer a complimentary 30 minutes online consultation for us to better understand your business requirements.