Singapore is called the "Switzerland of Asia" for a reason. One of the largest reserve funds per capita is accumulated in Singapore. Business in Singapore, has a reliable economic status, is quite easy to maintain and not expensive, which makes the registration of a company in Singapore reasonably profitable. Today Singapore has a strong place in the global economy. Banks in Singapore are in the TOP-20 of the most reliable banks in the world. The leading banks in Singapore are DBS Bank, OCBC Bank, United Overseas Bank. The economic development of Singapore testifies to the reliability and efficiency of this jurisdiction for registering a company or buying a company.
Geographically, Singapore is located in the very "heart" of Southeast Asia, on the Malacca Peninsula. The country offers logistics and freight services for less economically developed neighboring regions. But at the same time, it provides an opportunity for investors to easily and quickly enter the Asian market.
Singapore has a territorial principle of taxation, that is, firms that do not operate in Singapore are exempt from taxes at the place of registration. Also in Singapore there is no VAT, capital gains tax and dividend tax.
Financial statements are submitted once a year, but in Singapore small companies are exempted from annual audits. This category includes organizations:
1. The total annual revenue of the company should not exceed 10 million USD. USA;
2. The total assets of the company at the end of the financial year must not exceed $ 10 million. USA;
3. The number of full-time employees at the end of the financial year must not exceed 50.
The main difference between the requirements for a company being created in Singapore from other countries is the presence of a local director and a registered address in the country.
Any additional information on the registration of a company in this region can be obtained by contacting our specialists.