Setting up company in Singapore to run your international business for better profits and funds

Why you should set up a company in Singapore to run your international business

When you are running a business, there are many things that you need to understand and also find out about. The most important thing that most business are concerned about are taxes. The main point of running a business is to make profits and of course with this in consideration, every business wants to maximize profits for the shareholders.

With this in mind with high profits, therefore high taxation amounts and no business likes to be taxed. The main reason taxes are high in some countries is because they are a way for the country to get revenue for public goods that will be delivered to the citizens of the country at zero cost.

This puts burden on businesses that operate in manners that might cause them to lose out in competitiveness to others.

With this in mind, many businesses choose Singapore as their home base to incorporation their companies in.

Singapore is also one of the best places to run a business because of its strong financial background. With many banks based here, the country is a great place to transfer funds around the world and you have lesser restrictions when it comes to fund moving around the world.

The Singapore Dollar (SGD) is also a very strong currency which is held stable by the monetary authority of Singapore and one of the leading currencies in the world for trading purposes.

Singapore is also one of the easiest place to do business, with little requirements for corporate governance and also with lower income companies, there is even the exemption from audit until you are making 10 million turnover a year.

Singapore has strong connections with the world as well with a strong free trade agreement deal making with the rest of the world. It makes for Singapore to be the best place for countries to set up shop and hold cash in. The company can then make decisions on how to use the profits. With no capital taxes, profits can be thrown into capital goods to generate more income for the company and therefore build the strength of the company.

Choose Singapore today!

T.K is an avid writer on business topics, he writes for Koh Management