by Martin Threadbottom on July 3, 2009
If you want to setup a company in Singapore, you would be glad to know the this country offers an environment that is very friendly for new businesses. There is not doubt that the World Bank Report graded Singapore 1st for ease of doing business in the year 2007 and 2008. Singapore is also the second most competitive country after USA.
So it’s easy to see that doing business in Singapore is a great prospect for any overseas establishments. However, there are rules and regulations that you might want to know when forming a local company in Singapore.
Singapore Company Incorporation - The basic conditions
The stipulations are simple:
- Anyone can register a new company in Singapore, applies to both locals and foreigners
- Singapore allows 100% foreign ownership
- Paidup capital of one dollar is permitted
- There must be one shareholder and one director
- There must have at least one local director
- The company must have a local registered address
- Company secretary is a requirement
What are the benefits
Here’s one great benefit: The country offers tax exemption for the first $100,000 profits for new companies, up to 3 years. This is a very competitive benefit that many overseas companies enjoy.
The corporate tax for profits between $100,000 to $300,000 is only 8.5% and profits above $300,000 is just 17%. The coporate tax rates are competitive, which prompts many overseas companies to start their local presence in Singapore.
The need for company secretary
One important highlight here is that a local secretary must be hired by the company and this secretary must be qualified. Many company usually don’t hire a full-time secretary and is usually outsourced to a 3rd party that provides secretarial services.
So, it is important that the company must hire the right professional and qualified company secretary. In Singapore, there is no lack of capable secretaries. In fact, many are highly qualified so finding one should be easy.
Closing
Incoporating a company in Singapore is a great plan. You get to enjoys the benefits of tax exemption plus Singapore is also a great place to find local talents.
by Martin Threadbottom on July 3, 2009
If at all, under any given chance, you happen to be very fond of arts, then a visit to Austin is compulsory. The city has a huge assortment of artifacts which depict the city. Though the city doesn’t have too many historical monuments but because it is an old city, thats why it has many considerate number of historical events in its kitty. The city is not very big. However, it has extremely large hearted citizens. Austin people are very hard working also . They are very apt at hand and people from nearby areas call them for the hand works . You name the skill and you would find batteries of Austin guys pretty much comfortable at that skill. It is, of course, quite amazing. People can be apt at one or the other art but to be an all rounder is certainly quite regular and Austin people have crossed the barriers of limitation as far as skills are concerned. When it comes to imagination , there is no limit to it as far as the city crowd is concerned. Till now it’s all good, lot has been said for Austin folks . In this same process, let me introduce to you Austin Roofers who have done commendably well . Their work has been appreciated all over the country. Their work does not include only mending of roofs. However, it also include sdesigning good blueprints for the roofs. Since, there is a vast variety of roof styles and plenty of designs ,You name it and you would find that our city roofers have done a brilliant job for themselves. Assisting our city ’s roofers, we have plumbers from our own city and we call them Austin Plumbers . They have provided good piping solutions to a lot many people in the city . There have been quite many plumbing solution providers in the city , However, our city’s plumbers can’t be neglected at all. They are vibrant yet elegant when it comes to piping designs. Now here as we sit and talk, let’s also have a word about Austin Electricians also. They have represented Austin city in the most appropriate way by wiring down some of the good designs. All the colorfully lit up pathways are their own work.And if by chance also, you happen to drop in Austin for a small business visit, you would find examples of their finery all over the city.
