April 4th, 2012—Singapore—With the number of offshore company formations in Singapore reaching a few thousand per year, Singapore is now amongst one of the most preferred nations for offshore business. The rising number of foreign owned businesses being incorporated in Singapore is being attributed to the simplicity of the laws being practiced in the country. Singapore’s company formation laws and other policies make the nation one of the best places to have a business presence.
As per SingaporeStartup.com (www.singaporestartup.com), every aspect of doing business in Singapore including incorporation, operations, compliance and taxation make the country attractive for foreign business owners. To begin with, Singapore allows foreign nationals 100% shareholding in locally registered companies and foreigners can register their offshore company from overseas without even visiting Singapore. It takes only about one or two working days to complete the entire procedure and there are no post-registration formalities. Shareholders can be residing in any nation and there are no requirements to visit Singapore. Corporate taxes in the country are also one of the lowest in Asia and at the same time, foreign sourced income is completely tax free as long as that income has not been deemed as remitted to Singapore. While most offshore companies operate from overseas, thanks to Singapore’s excellent infrastructure, it makes doing business that much simpler. For example having pragmatic foreign exchange laws, banks in Singapore are able to offer withdrawal and deposit services to clients residing anywhere in the world.
According to SingaporeStartup.com, Singapore would definitely rank amongst the top nations for offshore company formation in the future and within Asia, Singapore would be one of the most preferred by business owners. With many Asian nations still having high taxes and other complex compliance requirements, there would be many more entrepreneurs from the region who would look for locations nearby with favorable business laws. It would not be surprising if such entrepreneurs found Singapore laws most attractive and prefer to setup their offshore company in the country.
SingaporeStartup.com is a leading portal which focuses on offshore companies in Singapore. The site provides in-depth guides on how to setup an offshore company in Singapore and also provides information on laws as well as policies which affect offshore companies in the country. For more information, please visit http://www.singaporestartup.com/