Business Environment Risk Intelligence (BERI) Report 2014, a US based research institute pegged Singapore the topmost among 50 major investment destination in the world. The assessment was based on operations, policies and foreign exchange. The GDP value of Singapore which represents 0.48 of the world economy is worth 297.94 million US dollars is a justified reflection of Singapore’s pro business environment with enormous business prospects. This pro-business framework echoes the effortless of operating business coupled with excellent fiscal policies with a comprehensive manpower development initiative to strengthen by the use of education, training and continuous upgradation of the manpower skills.
To put it in a coherent manner, Singapore the easiest place in the world to conduct business. The reason lies due to the hassle-free way in which administrative matters are handled. The procedure of incorporation of a firm and registering for taxes is quite effortless step by using the same online course. Online forms for construction permits, new workforce safety and healthcare regulation is just a matter of clicks are entirely computerized. The legal philosophy of the land is impartial with a clear clarity of the fixed government guidelines with a focus on good administration with a potent anti-corruption policy.
Initiating and establishing your business prospects towards a positive outcome reveals a fruitful association in a country like Singapore. The hot and happening Star- struck like Singapore is all about getting amused by its fascinating culture and business environment. A place where you can work, live and play, making it the most globally connected cosmopolitan atmosphere. There are numerous industries ranging from technology driven to creative driven.
Singapore is very strategically located catering to an open market for more than 4 billion people living in Asia including that of India, China or Hong Kong. A unique blend of competitive strengths with an amalgamation of western and eastern competence is an ideal platform for the meeting of global talents, ideas and business.
The immigration laws provide an excellent climate is sufficiently flexible to obtain a visa known as an Entre Pass for setting up a business is a trouble-free process. If you wish to relocate it makes your life easy with minimal formalities. As a foreign entrepreneur this is the most favorite destination to establish and sustain.
Singapore is a preferred tax haven
The Corporate Tax rates one of the lowest in the world as low as 17% attracted lots of entrepreneurs in this magical land of Singapore. If the turnover exceeds S$ 1 million GST tax is only applicable. Dividends and Capital gains earned by foreign subsidiaries or branches aren’t liable to tax. This low tax rate is indeed the pillar of success in the economic development of this land.
Foreigners in an unproblematic way can set up a business in Singapore networking with a single resident director having a local address and a minimum paid up capital of S$1 takes only two to three days for processing. There are local professional firms to assist to locate a local nominee to become one of the directors as self registration is not permitted.
So you only have to whistle it out to establish, sing a song to operate and dance all through in Singapore as the most lucrative business destination.