What are the advantages of incorporating a company in Singapore?
- Setting up a business in Singapore is relatively easy; all it takes is one business day for you to get clearance for your company name and one day for incoproration once you have the details including your resident director and shareholder ready.
- Singapore only taxes income sourced within the country or foreign sourced income that is remitted into Singapore.
- Singapore has an extensive double tax network treaty.
- A Singapore company can be wholly owned by a foreign entity.
- You only need one director-but he/she must be ordinarily resident in Singapore.
- Corporate taxes are low (17%) and new companies currently enjoy tax exemption for the first $100000 in income and 50% exemption from the next $200000 for its first 3 consecutive years of assessment.
