e-File ECI
2020-08-16
Company Types
2020-08-17
Why Register Your Company in Singapore?
Legend has it that in the 14th century, a Sumatran prince saw a magical beast, which he later learned was a lion, as soon as he set foot on the island of Singapore. In 1819, Stamford Raffles, an Englishman, shaped Singapore into a trading transit point. Singapore’s free trade policy attracted businessmen from all over Asia, the United States and even the Middle East. The country gained independence on August 9, 1965, became a member of the United Nations in September, and joined the Commonwealth in October of the same year.
Singapore Overview
Population: 5,685,800 (latest data in 2020)
Land area: 725.7 sq km
Average temperature: 25-31 degrees Celsius
Official languages: English, Chinese, Malay, Tamil
Religion: Buddhism, Islam, Christianity, Taoism, Hinduism
International Financial Center
– Fourth largest foreign exchange trading center in the world
– Largest foreign exchange clearing center in Asia
– Third largest offshore RMB clearing center
International Business Center
– The World’s #1 Competitiveness Ranking
– World’s Best Country to Do Business
– No. 1 Country in Asia for Intellectual Property Protection
Living in Singapore
– Ranked the Best City to Live in by HSBC Expat Survey Judges
– Ranked the most sustainable city in Asia
– Ranked #1 in Asia for its Education System
Singapore’s Talent Resources
The U.S. Business Environment Risk Institute (BERI) ranked Singapore number one in its workforce assessment. Singapore has a tradition of having a productive and skilled workforce, making it a favorable location for business development.
The country boasts of excellent business performance, advanced technology, low unit labor costs, and the production of high value goods and services. Singapore also has the best industrial relations in Asia, and employee-employer relations in the average Singaporean workplace are among the best in the region. More open channels of communication and harmonious industrial relations make for a better working environment and higher productivity in the country.
A report by the Lausanne Institute of International Management stated that Singapore has a relatively open workforce policy that is very pro-business and values foreign talent, due in part to its pro-business immigration regulations and convenient location. About a quarter of the skilled workers in Singapore come from overseas.
Working in Singapore is equivalent to joining an international workforce that is highly skilled, proficient in English and often speaks another regional language. The government and businesses also agree that employees should be provided with ongoing training and career development opportunities to improve their productivity and skills. In the context of a globalized economy, these factors have led to a highly acclaimed and sought-after talent pool in Singapore.
Singapore – International Transportation Hub for Economy and Trade
– International companies: about 26,000
– Insurance and financial institutions: more than 5,000
– More than 1/3 of the Fortune 500 have their headquarters in Singapore
– More than 80 of the world’s top 100 software services companies are headquartered in Singapore
– Singapore has signed 50 double taxation agreements and 30 investment guarantee agreements
– As one of the world’s largest foreign exchange markets, Singapore has a well-established financial system that has attracted many regional financial centers.
Advantages of Doing Business in Singapore.
Singapore topped the Doing Business Global list for the 9th consecutive year
Singapore was named the World’s Most Competitive Economy in 2019 and 2020, and was the World’s Second Most Competitive Economy in 2018.
Advantages of using Singapore as a platform for international trade for overseas companies
Singapore’s open economy and Free Trade Agreements (FTAs): Singapore has 21 regional and bilateral FTAs. Through FTAs, overseas enterprises can enjoy many preferential policies for imports, exports and investments.
Excellent infrastructure: Singapore’s excellent infrastructure and prime location provide a comprehensive service package for overseas companies to develop their businesses globally.
Low financing costs: Singapore offers easy and relatively low financing costs, with trade interest rates below 2%.
Application for the Global Trader Program (GTP), with offshore trading income eligible for a 10% or 5% tax rate.
Singapore is free from exchange controls.
Singapore has a full range of 75 Double Taxation Avoidance Agreements (DTAs), giving Singapore companies of overseas enterprises a tax advantage.
Singapore has 42 Investment Guarantee Agreements (IGAs).
income earned overseas is sent back to Singapore in the form of dividends, which are tax-free
No capital gains tax or capital gains tax in Singapore
Singapore companies are currently subject to a corporate tax rate of 17%
Singapore as an international financial center offers comprehensive financing solutions for businesses
Currently, Singapore has the most mature capital market in the Asia Pacific region, and indeed the world, with more than 600 financial institutions headquartered in Singapore, which includes many factors such as good national credit, a sound government regulatory mechanism, and a robust legal system.
International trade center with global connection
The world’s four largest foreign exchange markets and the largest emerging market in Asia
Leading asset management center in Asia Pacific with over US$1,310 billion in assets under management
One of the fastest growing and most active financing (bond) markets in the world
The most mature and leading OTC market for financial derivatives in Asia.
A leading international trading and pricing center for stores.
Offshore Renminbi settlement center.
Singapore is home to over 40,000 international companies, including over 5,000 Chinese companies; over 5,000 Indian companies, and 8,300 ASEAN companies other than Singapore. Over 80% of the world’s top 500 companies have a presence or do business in Singapore.
FOZL Group has long-standing partnerships with renowned universities and research institutes in Singapore, and can help clients to connect with many cutting-edge high-tech environmental projects, including sewage treatment and air purification. Many of these projects have expanded to a certain scale in the environmental protection field with their unique patented technologies and have achieved positive market feedback.
Singapore FOZL Group Pte. Ltd.
新加坡会计与企业管制局持牌的企业顾问事务所
注册新加坡公司 年审 财税
商标注册 企业顾问 服务式办公室
6 Raffles Quay，#14-02， #14-06， Singapore 048580