Singapore Company Registration is a Key to Your Dream Projects

My best advice to entrepreneurs is this: Forget about making mistakes, just do it. -- Ajaero Tony Martins

Many good business ideas go waste because the individuals are afraid of acting on them by committing to a Singapore company registration. Most of them, fear to make the mistake. It prevents their transition from a mere individual to an entrepreneur. A great pity!

Indulging in a Company Registration Singapore

If you have chanced upon a business idea and subscribe to the message of the 'quote' mentioned above, just opt to incorporate a company in Singapore. Only thinking about it is not going to help you realize your dream project. Listen to your inner voice and take the first step. Maybe the things will fall in their places much more easily than you are fearing.

Singapore has one of the best startup ecosystems in place to support the entrepreneurs hoping to bring the changes to the world. It is a much-favored marketplace to introduce innovative ideas. If you do go for the Singapore company registration you will find that you are not alone on the path. Each year, literally thousands of entrepreneurs choose to do so.

It is absurdly easy to set up a company in Singapore. The company registrar of Singapore i.e. ACRA (Accounting and Corporate Regulatory Authority) has made it even easier by making available a website BizFile. However, one needs a SingPass ID to log in on to this portal. The foreign entrepreneurs need to seek the assistance of Singapore incorporation services like SBS Consulting. Most of these services assign an incorporation expert to their clients.

As per the Company Act of Singapore any individual above the age of 18 can opt for a Singapore company registration. The most favored business structure in Singapore is that of the private limited company (Pte Ltd).

The entrepreneurs prefer Pte Ltd as it limits the liability of its shareholders and company officials. As a legal person, it is responsible for its own debts and losses.

Pre-Incorporation Requirement of a Singapore Business Incorporation

• At least a shareholder

• At least a resident director

• At least a company secretary

• Minimum initial paid-up capital of S$1

• Local registered office address

Singapore Taxation Regime

Singapore allows 100% foreign ownership, and there are no restrictions on the repatriation of profits and import of capital. The country boasts of lower taxation rates.

• The individual's income tax maxes out at 22% for the income above S$320,000.

• The single-tier corporate tax, at its maximum, is 17% on the chargeable income of S$300,000.

• The dividends received by the investors are classified as the capital gains and are tax-free.

• Singapore has earned a reputation for supporting its startup companies. For the initial 3 years, their chargeable income above S$100,000 is tax-free.

Why Choose a Singapore Company Registration?

Over the last few decades, Singapore has steadily built itself as the renowned business hub of the Southeast Asia. Its geographical location is one the factors that has worked in the country's favor. It straddles the major sea-bourne trade links between the East and West. It is responsible for Singapore's rise as the major Entrepot of the region.

Singapore's proximity to the Asia also plays a vital role in increasing the reach of Singapore-based entrepreneurs and the corporates. It boasts of renowned airports providing air links to the emerging markets of Asia. The authorities have established schemes like Regional Headquarters Award (RHA) and the International Headquarters Award (IHA) to attract the foreign companies. Taken together, all these factors contribute to the attractiveness of this country as the favored destination for Singapore company registration.

SBS Consulting is one of the leading corporate services provider in Singapore. It specializes in Company Incorporation, Accounting, Preparation of director's report, Taxation, GST, Payroll, XBRL, IT software development and maintenance, etc.