Doing Business in Singapore

Singapore is a popular country for international business to be carried out. One of the main reasons for this is that it is perhaps ideally located for east west trade as it is on the main shipping route between the two hemispheres. For this reason many companies like to register in Singapore whilst others that register there, register there due to its low taxation rates for companies. Regardless of the reason why a company may register in Singapore, it is a popular place for businesses to register and this also makes Singapore a good place to do business. In order to register your company in Singapore, one of the requirements that is insisted on, is that you have a full Singapore address for at least an office which is open between the hours of regular business in Singapore. Another requirement is that a director of the company must either have a valid employment permit for Singapore, be a permanent resident or be an actual citizen of Singapore. Other requirements are that you maintain accurate records, including accounts of all transactions the company does in Singapore and these records must be maintained by a corporate secretary that is a Singapore citizen.

For a foreign business, these may not be requirements that can be easily mat and so some businesses in Singapore, such as Singapore Incorporation Service, specialize in assisting foreign companies to meet the registration requirements. On the official websitefor Singapore Incorporation Service you will see that they can offer assistance with finding a suitable nominee as director as well as finding a suitable person to be the corporate secretary although they may even offer themselves for the latter. They will also assist a foreign company to find suitable office space for their company to operate from in Singapore. Regardless of how much actual business a company intends to do in Singapore itself, finding suitable staff should not be a problem as Singapore is considered the best country in the world for providing a well-educated and qualified workforce.

For any company members that are required to move to Singapore, life for them will be good as Singapore is rated as having the best living conditions of any country in Asia. It is the fact that so many businesses opt to do business in Singapore which has led Singapore to be the third wealthiest country in the world which in turn, has led to Singapore having what is considered to be a very stable political system, one which will not cause unrest and fluctuations in its business interests. As it is business which has made Singapore wealthy, the Singapore government continues to welcome new businesses to register with them and so make it easy as possible to do so. The government also keeps taxation rates low for businesses in order for more to register with them and on occasions even offer a free tax period for newly registered companies, an incentive which is taken up by many.