Asiabizservices Explains On Singapore Sole Proprietorship
A company that helps foreign individual, entrepreneur or a business professional who wants to setup a Singapore company as an individual.
by Harry Hopkins Monday, November 08, 2010
As the International Finance Corporation’s Ease of Doing Business 2011 Report puts it, Singapore continually provides the environment conducive to business development for small and medium-scale enterprises.
Evidence to that declaration is Singapore’s Chinatown. Along its alleys are a surfeit of food stalls, shops, and temples. Chinese merchants and craftsmen lurk around this part of Singapore to trade their gold jewelry, bales of silk, herbs and medicines and teas, household items and handicrafts that are remnants of ancient wars.
Of course, being a Chinatown does not necessarily mean that only Chinese merchants are present. Also proliferating in the small-sized businesses are the ones from Pakistan, Thailand, Myanmar and Korea, in whose native products center on famous noodle dishes, bak kwa, Buddhist artifacts, and art works.
Singapore is proud to provide a haven where the differences are appreciated, encouraged, and regarded as the best option. A society of various cultures is conceived as a strong nation.
On a large scale, Singapore continues to attract investors in Asia Pacific. Just by the end of October 2010, 11 Chinese companies, mostly coming from real estate and manufacturing industries have enlisted in Singapore, reaching a total of 33% for newly listed companies on the stock exchange.
Among them are Global Logistic Properties which raised S$6.69 billion in its IPO on October 18 and Double Estate Company which generated S$367.87 million in April.
In the last 3 months, the listed Chinese companies had a stunning performance.
Establishing a company in Singapore offers a varied option among potential investors. Sole proprietorship, a business structure that is the easiest to register and which requires one owner, is among the flourishing business types for most foreign entrepreneurs.
“The authorities in Singapore allow 100% ownership by foreigners. The profits they made while doing a business in the city-state can be repatriated to their country of origin,” says an account manager for Asiabizservices, a Singaporean private limited company established since 1995 to attend to businessmen’s needs in starting a company in Singapore.
The tax structures in Singapore are attractive as well. Since in a sole proprietorship enterprise the owner is considered as one with the business, the tax is levied once only—upon the entrepreneur’s personal income.
A sole proprietorship is treated as non-legal entity. Thus, in addition to its uncomplicated process of establishment and dissolution, it enjoys the privilege of not being sued. However, it also cannot sue another business.
As part of its attractive business policy, foreign investors can employ the services of another corporate such as the Asiabizservices to carry out the tasks necessary for a foreign company to start its business operations in Singapore.
Asiabizservices.com is the leading company that provides Singapore Company Incorporation services to both local and foreign entrepreneurs and investors and offer consultation regarding the immigration and taxation, accounting and book keeping requirements, and other compliance matters stated under the Singapore law. AsiaBiz has successfully helped thousands of foreign and local entrepreneurs Form a Singapore Sole Proprietor.
Asiabizservices Pte Ltd
120 Telok Ayer Street Singapore 068589
Phone: (65) 6242 6533
Fax: (65) 6303 2670
Singapore Company Formation Service, We provide company registration,incorporation, immigration, accounting and taxation services to entrepreneurs and businesses worldwide.
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