5 Reasons Why You Should Set Up Your Company In Singapore

5 Reasons Why You Should Set Up Your Company In Singapore

As the world comes to terms with the devastating effects of the COVID-19 pandemic, many businesses are starting to count their losses. On the other hand, resilient entrepreneurs are looking for ways to get back into business. If that’s you, you should know that great news awaits.

In Singapore, there are plenty of opportunities available for you and your business. The first step is to work with a professional firm that offers company incorporation services to help get your business set up.

However, there are plenty of other reasons as to why you should set up your company here in Singapore. Here are a few key reasons you should take note.

1. Plenty of Opportunities

One of the biggest reasons why you are exploring new ideas in your business is simple: you are looking to grow and expand. In Singapore, you’ll find yourself vying in an open and competitive market. This is where you can start your business and take advantage of more opportunities.

No matter what the nature of your business is, there are still plenty of opportunities awaiting you. As Singapore is Asia’s leading business hub, you’ll find that the market is fiercely competitive but equally rewarding.

2. It Is Easy To Get Your Business Started

With the help of an expert to incorporate new companies, you will find that it is quite easy to get started. It provides a peace of mind to you knowing the process of setting up a company will be handled by experienced hands. If you already have all the necessary requirements for registration, you may just be done in a day!

At Ackenting Group, we provide company incorporation services so you will have the right tools and knowledge to get your business started in Singapore. We also offer essential accounting bookkeeping services to keep your financials in check. Taking the right financial step forward is important for a small company, and we seek to provide risk analysis, financial analysis and quality updates to ensure your business is moving in the right direction.

3. Enormous Tax Benefits

In Singapore, there is a one-tier corporate tax regime. This means that when you pay tax on chargeable income (profits), it is final and dividends to shareholders are tax-free. At 17%, Singapore’s corporate tax rate is one of the lowest in the world. However, that’s not the end.

Work with our team at Ackenting Group and we can help you to identify government tax schemes and subsidies to help drive effective payable tax even lower. We place your business first, offering affordable corporate accounting services that ensure your business can get started without worrying financially. In addition, there is no capital gains tax in Singapore, making it a gateway for companies hoping to expand into this global hub for international investment and commerce.

4. Plenty of Financial and Professional Backing

One of the biggest concerns for businesses as of right now is cash. It’s reassuring to know that when you set up your company in Singapore, you will have a plethora of sources for financial business support. From traditional sources like banks and venture capitalists to non-traditional sources, Singapore’s government also offers plenty of funding opportunities for start-ups and support for growing companies too.

5. Work With a Brilliant Team

Once you have your company up and running, you can start to hire a team of brilliant individuals to keep your company competitive and profitable.

Assembling such a team in Singapore is not difficult. The country has a wide range of well-educated, highly-motivated, productive and diverse talents. Moreover, Singapore has an open immigration policy that enables foreigners to get work visas and allow businesses to enrich their existing talent. Start your business right, reach out to Ackenting Group and let us help you get your business started.

If you require any assistance on accounting services, feel free to drop us an email at johnwoo@ag-singapore.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.

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