Singapore – Key Benefits
There are various benefits attached to incorporating a Limited Liability Singapore Company. Some of these are listed below:
- English is the official business language and therefore all company reports are produced in English and all information is available in English
- Common law is in place
- Singapore is a world leader in foreign trade and investment and has one of the best business environments in the Asia Pacific region.
- Singapore is the best country in which to run a business according to a recent World Bank study and it has been named as having the most open economy for international trade and investment and least corrupt economy in the world.
- Singapore has one of the most highly developed and well-regulated financial centres in the world which has been built on the highest regulatory and prudential standards
- The Singaporean Tax System is straightforward and stable
- There are no restrictions for foreigners to be shareholders or directors of a Singapore Company
- The Incorporation process for a Singapore Company is quick and efficient
- No minimum requirements for share capital
- Only one director and shareholder is required to form a limited liability company
- There is a concept of Territorial Taxation where foreign source trade profit is not subject to Singapore income tax if it is repatriated in Singapore
- There is no Capital Gains Tax in Singapore
- Foreign dividends are not subject to Singapore Income Tax
- Tax Credits for foreign tax paid are available in Singapore. However, they are is subject to some conditions
- There are some partial income tax exemptions available in Singapore
- There is no Net Worth Tax in Singapore
- Intensive Double Tax Agreement System with more than 60 agreements signed and ratified with other countries
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