Singapore is considered to be the financial center of Asia. This country due to low tax jurisdiction is very popular among investors and has a high level of trust among companies – partners from Europe. That’s why there are many head offices of international companies. Besides, registration of the company in Singapore will allow to do business with better conditions in the market of Asian countries.
Advantages of the registration the company in Singapore:
- Stability of the banking system.
- Singapore – is not only a major trading port, but also the transportation hub of South East Asia.
- Low tax rates. If the company registered in Singapore, but operates outside the state and doesn’t transfer money on the bank account in Singapore, in this case company doesn’t have to pay the income tax.
- For companies that operate in Singapore the rate of income tax is 17%. Though, for new companies there is a tax exemption, as well as the ability to write off the costs of the company in payment of taxes.
- Complete confidentiality of information about the business. The level of confidentiality of some Singapore banks is much higher than in many banks of European countries.
- Singapore has signed 71 agreements to avoid double taxation
Basic organizational and legal forms of companies in Singapore:
|Limited Liability Partnership