As the world becomes increasingly borderless and markets transcend geographical boundaries, it is important for business owners and entrepreneurs to think beyond the traditional idea of starting your company in your own hometown.
You should think about starting or moving your company to a place that gives it the best chance for success and yet remains close enough and relevant to your primary markets.
Countries such as Singapore and Hong Kong have always been “go to” destinations for Indian businesses for several generations, and with good reason.
In this article, we discuss some of the salient features that make it attractive for Indian businesses to incorporate their companies in Singapore.
World Bank’s Global Survey on Ease of Doing Business
- India ranks #77
- Singapore ranks #2
Let us understand why.
As an entrepreneur, you are risking your time and capital and have gathered support around your idea by attracting talent, capital and/or partners. Having put your idea into motion, the last thing you want to do is to be dealing with a barrage of regulatory and compliance based hurdles.
Easy Incorporation, Easy Maintenance
Singapore has consistently been ranked among the top in the world for ease of doing business. One of the main reasons is how easy the government has made it to start, maintain or even close down a company in Singapore.
100% Foreign Ownership OK
Singapore does not have any restrictions on foreign ownership of companies and does not require any local shareholders. Which means as a foreigner, an Indian businessman can own 100% of their Singapore Company.
Singapore also offers a very attractive “low-tax” regime which is based on a territorial tax system as opposed to a worldwide tax system. This means that you only pay tax on income derived in Singapore. A Single Tier tax system also ensures that income is only taxed once and is free of tax when distributed as dividends to shareholders.
No Capital Gains Tax. Attractive to Investors
Not having any restrictions on movement of capital and the absence of capital gains tax makes Singapore a very attractive jurisdiction for companies and investors as they would realize a higher return on their investments.
Over a hundred India based entrepreneurs or companies incorporate in Singapore every month. LOL makes the process easy by providing truly free incorporation with no strings attached. If you are happy with our service and would like to engage our other services, you may sign up for our simple all-in-one compliance plan.
Moving to Singapore
Setting up a company in Singapore may be one of the best decisions you make for your business. In addition, many Indian businesses are doing so to migrate to Singapore and give their next generation a better education, a better life, a better future.
If you are looking to migrate to Singapore, set up a no obligation appointment to speak with our immigration specialists.