Singapore is one of the most prolific Asian countries at the moment, according to several surveys. One of the most important global reports, the Global Connectivity Index, places Singapore on the second position this year in terms of connectivity and digital transformation. This result was obtained thanks to the Government which understood how important a modern infrastructure is for Singapore companies. If you want to open a Singapore company, our local agents can help you.
The Asian market is one of the largest in the world, which is why many companies all over the world are trying to reach it. These companies also need to establish presences in nearby countries which they can use as gateways to China, especially. Singapore is one of the countries used by foreign companies which address consumers in China and India, two of the largest Asian states. This has led to a development of the consumer sector in Singapore. Our company formation specialists in Singapore can assist foreign investors who want to open consumer businesses here.
Singapore’s economic performance is commended in all the reports issued by prestigious specialty magazines all over the world. The last survey in which Singapore ranked second in terms of economic performance is the Global Competitiveness Index (GCI). Moreover, this is the 5th year in a row when the Lion City occupies this position. If you want to set up a company in Singapore and need assistance, you can rely on our company formation representatives.
The Singapore Government is very serious in its endeavor to help startup companies to grow which is why it allowed the Monetary Authority (MAS) to review the legislation for venture capital managers. Venture capital is one of the most employed methods of raising capital for startups and this one of the main reasons the regulations need to be adjusted in order to assist not only Singapore companies, but the whole economy. Our Singapore company formation experts can assist foreign investors who want to set up companies in the city-state.
Singapore has taken digital transformation to a new level during the last few years, according to statistics. At the moment, Singapore ranks as the second best country in the world in terms of digital connectivity which is why the Government has decided to start a new project which implies the use of digital currency. If you want to open a company in Singapore and need information about the best industries to invest in, you can rely on our company registration specialists.
One of the most important tasks of the accounting department in a company in Singapore is dealing with the payroll of employees. However, there are situations in which errors could happen. The best ways of avoiding them is to study very careful the Singapore tax legislation in order to make as little payroll mistakes as possible. There is also the possibility of hiring an accounting firm which will only handle the payroll of employees.
Below is a list with the most common payroll mistakes a company in Singapore could make.
Singapore is one of the preferred Asian destinations of foreign citizens and investors. Most of these people seek to relocate here because they want to enjoy the safety the city-state offers, according to the Expat Insider 2016 Report. With so many individuals moving here, rental businesses have also registered increasing incomes during the last few years. Below we will offer a small guide on what foreign citizens can rent when moving to Singapore. You should also know that our Singapore company formation experts can help you open a rental company in the Lion City.
The construction industry in Singapore is about to change its face, as the authorities announced several reforms which are meant to increase the quality of the sector while reducing the number of workers involved in high precision operations. Even if the construction sector was one of the most reliable economic segments with an average increase of 1.3% per year since 2009, the Government wants to further improve its productivity through innovation. Our Singapore company registration specialists can assist foreign investors interested in opening a construction company.
Singapore has become a top destination for foreign citizens relocating to another country for living, working or business purposes, according to a recent study released by InterNations. Singapore ranked fifth in the world, based on the 2016 survey. Singapore is also one of the countries with a population made up mostly of expats. If you want to relocate to Singapore, our company formation specialists can help you apply for an entrepreneur pass.
According to the latest Wealth-X Billionaire Census for 2015-2016, Singapore is the 6th city in the world in terms of billionaires. The report shows 37 of the wealthiest families in the world live in Singapore and they place the city-state on the same map with renowned cities for richness, such as New York, Moscow, Beijing and London. This is also due to the fact that the number of high net worth individuals has grown in the past year. Among the factors attracting billionaires to Singapore, the developed financial industry seems to be one of the most important ones. If you are interested in moving to the city-state in order to open a Singapore company, our local representatives can assist you.
Singapore has good economic relations with Luxembourg, especially in the investment funds sector and recently the two countries have signed two new agreements related to the research and development (R&D) industry. While the city-state already has a good infrastructure for R&D projects and incentives for innovative Singapore companies, Luxembourg is taking its first steps towards developing this economic segment. Our company registration experts in Singapore can assist foreign investors interested in setting up innovative companies in this country.
When it launched the Industry Transformation Map, the Singapore Government announced that the program would gradually be developed for each economic sector. This time it was the food industry’s turn to benefit from governmental aid. This way, Singapore companies operating in the food manufacturing industry will help with the transformation of the city-state into the largest food and nutrition network in Asia. Our Singapore company formation specialists can assist foreign investors interested in setting up a food business in the Republic.
In order to help Singapore companies to streamline tax filing requirements, the Inland Revenue Authority (IRAS) has enabled various schemes which provide for submitting various forms related to the corporate tax and insurance payments for employees a company must pay. The latest form refers to the Auto-Inclusion Scheme (AIS) for income resulted from employment. Our Singapore company formation representatives can offer full information on the taxes a company must pay in the city-state.
Many industries considered emerging sectors a few years back are now among the most important for Singapore’s economy. One of these industries is engineering which has developed quite fast in the last five years. The services cluster registered a spectacular growth this year as Singapore companies have benefited from the incentives granted by the Government for the engineering industry. Our local representatives can help if you want to open a Singapore company.
The real estate industry is one of Singapore’s most developed economic sectors. This is due to the incentives dedicated to those seeking to purchase a property here. Their number rose quite a lot during the last years so that construction companies have started building more. Not only the residential, but also the offices cluster has seen significant growth in the last 2 years. Our company registration specialists can help you open a Singapore company in the construction industry.
The last five years have brought significant changes on the startups scene in Singapore. If until then the Singapore economy showed little entrepreneurship, now many enterprisers have managed to raise their companies from small to medium or even large ones. The main reason that led to this change is the fact that it became easier to do business in Singapore. Our company registration specialists in Singapore can assist foreign investors who want to open companies here.
The Singapore taxation system is made up of several taxes imposed on various incomes. One of these incomes refers to the shares issued by a Singapore company. The tax imposed to any of the transactions with shares is called a stamp duty. Our Singapore company formation experts can offer foreign investors information about the advantages of the taxation system in the city-state.
In the new 2017 Budget, the Singapore Inland Revenue Authority (IRAS) included the new requirements for filing e-forms. The new forms are meant to ease the submission of tax returns and to reduce the time spent by company representatives in front of the IRAS’ windows. The provisions also allow for small companies in Singapore to have more time to comply with the new regulations. If you want to open a Singapore company, you can rely on our company registration experts.
The entertainment industry has become quite prolific in the last few years in Singapore. Foreign enterprisers are highly interested in opening event management companies and casinos in the city-state, at the moment. Among these, the casino and lottery games sector is generating one of the highest returns on investment. In this article, we will assess how the casino tax is levied in Singapore. You can also rely on our company registration experts in Singapore if you want to set up a casino in this country.
Singapore has recently become the choice destination of foreign entrepreneurs who seem to be doing quite fine on a competitive market. The question that often arises is: are only rich individuals able to open a company in Singapore? Recent statistics show the opposite: Singapore is also open to common people with a strong wish to have their own business. Our Singapore company formation experts can assist foreign investors interested to start a business in the city-state.
Several years back when it was first launched the Productivity and Innovation Credit (PIC) Scheme was a great success, which is what determined the Government to continue helping Singapore companies which sought to apply for this program. The PIC Scheme was renewed in August 2016 for 2 years. Our Singapore company formation specialists can assist foreign investors who want to set up companies in the Republic.
Singapore and Hong Kong are two of the freest and best economies in the world, according to recent reports. These facts have determined specialists to compare Singapore and Hong Kong’s economies in order to offer foreign investors good perspectives when choosing where to open companies. For six years now Singapore seems to lead in terms of economic development. Our local agents can assist you if you want to open a company in Singapore.
Retail companies in Singapore are doing quite well according to the latest report issued by the city-state’s Department of Statistics, SingStat. The biggest surprise came from the automobile cluster in the retail industry which registered a 2.8% increase on a year-to-year basis. Our Singapore company formation specialists can assist foreign investors who want to open retail companies here.
The Minister for Trade and Industry has announced the introduction of two new industries in the Industry Transformation Map: the food services and the retail sectors. If not much details were given about the first one, the Retail Industry Transformation Map was launched in September. If you want to open a company in the retail industry in Singapore, our agents can guide you through the company formation process.
Singapore is one of the Southeastern Asian states to care the most about startup companies. This is also one of the main reason the number of this type of companies has grown a lot during the last years in Singapore. In order to assist them, the government has enabled several programs and among them one of the most successful is the Tax Exemption Scheme for New Startup Companies. Our Singapore company formation agents in Singapore can offer more information on the taxation of companies in the city-state.