Rikvin Provides Company Registration Services 

A Company that have a complete benefits that help foreign and local entrepreneurs setting their own business in Singapore.

by Krafsur Samuel Thursday, November 25, 2010
Singapore is an advocate of a free enterprise. Its not imposing restrictions on a foreign ownership of business is apparent to that. This means that foreigners may own 100% of company shares. They are also allowed to repatriate their income and import their capital.
However, besides the sophisticated infrastructures, advanced technology, and high quality of lifestyle, Singapore is known to be a business friendly city. Evidence to this is the low tax rates the government imposes and tax incentives it awards to foreign corporations and entrepreneurs.
“For corporate taxes, the company may have a low rate of 8.5% for an annual income reaching S$300,000,” Rikvin pronounces, remembering how the government mitigated the corporate taxes from 22% since 1995.
Should the annual earnings accrued to more than S$300,000, Rikvin, a Singaporean-based company committed to providing business solutions to investors, assures that the rate remains to be low at 17%.
“When it comes to personal income tax, foreigners enjoy a flat rate of 15%,” Rikvin continues.
Certain newly formed companies are given tax exemptions on the first S$100,000 accrued yearly taxable income for its 3 consecutive years of assessment. Another 50% discount is awarded on the corporate’s next S$200,000 profit earned.
Moreover, since Singapore follows a single-tier taxation policy, it does not implement further tax deductions on dividends distributed among its shareholders after the corporate tax has been deducted. Nor does the government levy a tax on withholding, capital gain, and net worth.
Rikvin continues elaborating the tax incentives in Singapore.
“Foreign-sourced profits and dividends submitted in Singapore are exempted from taxes if the headline tax of the country of origin is set at a minimum rate of 15% and if that income has already been subjected to a tax.”
Under a few conditions, a foreign company may be locally incorporated in Singapore and hence may be treated as a resident company. It may then qualify to be bestowed with benefits stipulated under the Avoidance of Double Taxation Agreements which the city-state has recently implemented.
To form a Singapore company is relatively easy. It can be accomplished within 2 days as long as the necessary documents are readily available. The first step in company registration is the approval of a business name.
According to Rikvin, the business name must be unique without infringement. Unless the company is a branch, a representative, or a subsidiary, the business name must not resemble another’s.
Foreign investors may either opt for relocation to Singapore through obtaining an Employment Pass, Entrepreneur Pass, or Dependent Pass.
“They could also run their business in Singapore from somewhere else,” comments Rikvin on non-relocation approach of company registration, “however, they should appoint a local resident director for a non-single proprietorship enterprise and or a local company secretary for all business structures including a sole proprietorship.
“Most foreign entrepreneurs prefer to engage the professional services of a company such as Rikvin to carry out the task in their behalf,” Rikvin says in conclusion, “and this includes processing the working visas for investors and foreign staff relocating to Singapore.”
About the Publisher:
Rikvin, for many years has been helping entrepreneurs in the local and abroad to handle the company registration services in Singapore in their behalf, unless the investors themselves are eligible to initiate the registration.

Among other services, Rikvin specializes in Singapore Company Registrar, Singapore Gst Services, registration of a new company, accounting and secretarial services as well as compliance with statutory requirements like nominating a resident director.

For more information, visit:
http://www.rikvin.com/
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436
Email : info@rikvin.com

Rikvin provides Singapore Company Registration service including securing your Singapore Employment Pass and Singapore EntrePass Visa for Singapore Business Migration.

General | Categories: financial, bussiness
0    submitted by Krafsur Samuel
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