Planning an overseas expansion? This city stands out from the competition.

Are you planning to expand your business overseas? 

Check out why Singapore is where you should incorporate your overseas entity.

Singapore is a popular destination for business incorporation due to its favourable tax regime, well-developed infrastructure, and highly skilled workforce. 

Why Incorporate in Singapore?

Singapore is desirable for company incorporation due to its favourable business environment. Some of the reasons to incorporate in Singapore include:

• Low tax rates: Singapore has a low corporate tax rate of 17% and a favourable tax regime, making it an attractive destination for foreign investors.
• Robust infrastructure: Singapore has a well-developed infrastructure that supports business operations, including reliable transportation and communication systems, modern airports, and ports. According to data shared by the Land and Transport Authority, at the end of 2021, the total rail length amounted to 245.5 Kilometres. 
• Skilled workforce: Singapore has a highly skilled workforce proficient in multiple languages and can support businesses across various industries. According to the Ministry of Manpower, as of June 2022 a total of 1.3 Million foreigners were employed in Singapore.
• Access to regional markets: Singapore is well-positioned to serve as a gateway to other Southeast Asian markets, making it a strategic location for businesses looking to expand into the region. According to data from Hong Kong Marine Department, Singapore handled a shipping volume of 37.46 Million TEUs* in 2021 (As of 24.04.2022)

*1 TEU is a container 20 feet long, 8’0″ wide and usually 8’6″ high

Company Incorporation Services in Singapore

The process of company incorporation in Singapore involves several steps, including choosing the type of company to incorporate, registering the company with the government, and obtaining the necessary licences and permits. Companies can choose between several business structures, including sole proprietorships, limited liability partnerships (LLPs), and private limited companies.

To incorporate a company in Singapore, you must engage a professional firm specialising in company incorporation services. These firms can assist with the following steps:

• Choosing the proper business structure: An incorporation services provider can help you determine the best business structure based on liability protection, tax implications, and operational requirements.
• Registering the company: The professional firm will register the company with the government, including filing the necessary forms and obtaining the required licenses and permits.
• Obtaining a business address: Companies incorporated in Singapore must have a physical business address. An incorporation services provider can assist with obtaining a registered office address for the company.
• Bank account opening: Incorporation service providers can assist with opening a bank account for the company in Singapore.
• Compliance support: Companies incorporated in Singapore must comply with various regulatory requirements, including filing annual returns, keeping accurate financial records, and paying taxes. An incorporation services provider can assist with compliance to ensure that your business remains in good standing with the government.

In conclusion, incorporating a company in Singapore is a complex process that requires the services of a professional firm. Incorporation service providers can assist with choosing the proper business structure, registering the company, obtaining a business address, and ensuring compliance with government regulations. With the proper support, company incorporation in Singapore can be a straightforward and efficient process that sets your business up for success.