Asiabizservices Encourages Foreign Entrepreneurs To Start a Singapore Company
A company that helps foreign individual, entrepreneur or a business professional who wants to setup a Singapore company as an individual.
by Sarah Evans Thursday, December 09, 2010
Its air transportation is among the world’s most competitive with flights to 200 cities in 60 countries accommodated daily from 90 airlines serving 64 million passengers a year. In week, Changi International airport handles 5000 flights.
The Port of Singapore, the world’s second-largest transshipment port, maintains connections to more than 600 ports in 123 countries by 20,000 vessels from more than 200 lines and generated 18.1 million TEU including daily voyages to major ports in the world.
Singapore’s economy is founded on free trade. In a discussion with Asiabizservices, a company registered in Singapore to assist foreign investors incorporate a company, its representative explains that “the city-state is known in the international community as a major importer and exporter of goods and services.”
An advocate of free trade policy, Singapore maintains sound economic relations with the world economies. It strengthens its free trade agreements to 17 different countries and several bilateral agreements with countries in Asia Pacific.
Just in the third quarter of 2010, the country tallied a 18.6% GDP growth, dozens of new companies registered, and hundreds of employees joined the workforce.
Consistently attracting entrepreneurs and investors is the attractive business policy of Singapore.
“Resident companies experience tax exemptions on the first S$100,000 revenues accumulated on its 1st 3 years,” Asiabizservices resumes its explanation, “an additional 50% discount is awarded to the next S$200,000 profit.”
On the 4th year of assessment, companies are levied with 8.5% on revenues between S$100,000 and S$300,000. Beyond that, the corporate tax is flat at 17%.
Some companies are also given tax incentives to encourage foreign capital inflow into Singapore. Foreign individual’s personal income tax rate from employment is set at 15%.
Foreign entrepreneurs can register a Singapore company with flexible business structure options. Asiabizservices continues saying, “foreigners can select from a sole proprietorship, partnership, and limited liability partnership. They may also own all the company shares.”
All business structures require an appointment of a local manager who holds ordinary residence. Unlike a company, business firms are not obliged to appoint a company secretary, director, and shareholder.
“Entrepreneurs are not subject to double taxation,” Asiabizservices concludes its discussion, “they can deduct their business losses from their income, thereby, mitigating personal income tax rates.”
Singapore actively engages in innovation to better understand and satisfy the demands of businessmen and situation.
About the Publisher:
Since its inception, Asiabizservices has served the community by taking charge of Singapore company registration, incorporation of a company, processing the necessary working visas of entrepreneurs or employees, and providing services such as accounting, secretarial and statutory compliance with certain requirements.
AsiaBizservices is a company that provides Singapore company incorporation services to local and foreign entrepreneurs and investors and offer consultation regarding the immigration and taxation law, and book keeping requirements, and other compliance matters stated under the Singapore law. The company has successfully help hundreds of foreign entrepreneurs form a Singapore company.
For more information:
address: 120 Telok Ayer Street Singapore 068589
Singapore Company Formation Service, We provide company registration,incorporation, immigration, accounting and taxation services to entrepreneurs and businesses worldwide.
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