Press release -
3 reasons to incorporate a company in Singapore
Singapore offers business people a balanced mix of work and lifestyle benefits.
1. Competitive tax regime
Singapore also has one of the most competitive tax regimes in the world. Corporate tax rate is as low as 17% effective from the year of assessment 2009, with a full zero per cent tax exemption on the first S$100,000 of chargeable income, during the first three years after incorporation. Taxation is 8.5% from $100,000 to $300,000. After that, the tax rate is a 17%. There are zero taxes on capital gains, with dividends paid to shareholders. Although the GST has gone up to 7% from 5%, Singapore still has one of the lowest GST rates – below the global average VAT/GST rate of 16.4%, and the Asia-Pacific average of 10.5%.
2. Close proximity to emerging markets
Only one hour’s flight from emerging markets like Indonesia and Thailand. Singapore is geographically close to other financial hubs like Hong Kong and China. Singapore’s Changi Airport has 80 airlines that connect to over 180 cities in 50 countries and serve over 15 million passengers annually.
3. Family friendly
Singapore is one of Asia’s most family-friendly cities. It has an excellent education system, an immaculate public safety record, an efficient transport system and low pollution. The majority of Singapore’s 4.5 million people speak fluent English. Singapore is one of the top five least corrupt countries in the world and the least corrupt nation in Asia. It is one of Asia's safest cities and offers residents and visitors a wide range of entertainment, cultural and lifestyle options.
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