Updated: Dec 14, 2020
There are many companies and enterprises which have chosen to set up their base of operations in Singapore. There are multiple reasons why you might want to consider doing so too.
Great Legal and Personal Safety
Also known as a ‘fine city’ for the number of things one can get charged with, it also means that corruption and crime is much harder to come by, giving you the peace of mind that you and your business will be safe.
These legal protections also cover intellectual property, so if your business has proprietary information, you are assured of it being protected.
Singapore relies on trade to survive. As a result, if you want to have operations internationally, Singapore’s comprehensive trading connections and agreements mean it will be much easier to reach out to the global market. Many companies choose Singapore as their base for business in South-east Asia for this reason.
Benefits for a Singaporean Headquarters
The government offers tax concessions for operations carried out from Singapore, with certain qualified companies potentially paying up to 0% taxes!
Foreign Income Exemption From Taxes
Foreign-sourced income is taxed only when repatriated into Singapore. And tax may not even be levied on foreign-sourced dividends remitted into Singapore if certain conditions are met.
Great Personal Tax Rates
Taxes in Singapore are progressive, and there are various forms of reliefs offered to lower your total actual taxes paid.
Great Corporate Tax Rates
Aside from the first three years of tax exemption scheme for new start-up companies, Singapore also has one of the lowest effective tax rates in the world. You also do not need to worry about being double-taxed.
With these said, we hope we’ve shown why Singapore is a place many others set up or run their businesses from, and why you should too.