Voted as one of the best places to do business, Singapore shares British DNA in terms of language, law, finance, education and culture.
Singapore’s Tax System
Notably, Singapore offers one of the most attractive tax systems. Corporation tax is 17%, and the government offers significant tax rebates for new companies, with the opportunity to reduce the tax liability during the first 3 years of business. There’s no inheritance tax and dividends are taxed at 0%. Personal income tax rates are amongst the lowest in the world. Singapore also has clear international tax treaties with most of the countries in the world to prevent double tax jeopardy situations.
Singapore : Other Intangible Benefits
However, whether an Entrepreneur is considering relocating their HQ, setting up a shell company or a franchise office, most will consider a wide range of factors not just financial. Here Singapore offers unrivalled benefits. Being part of the commonwealth, with laws based on UK (Common) law, British business owners are reassured doing business is easy. A gateway to Asia, from a base that feels like home, Singapore puts businesses on the map in the SEA and APAC regions. As businesses expand, investment is vital and Singapore provides corporate finance on a par with London and New York.
Finally, these decisions don’t all come down to work, because we hopefully work to live not live to work. In Singapore quality of life has been continuously increasing. World-leading healthcare, housing and education are combined with the status of the greenest city in the world. Providing a better work-life balance, and a safe environment to live and work.
How you maximise the benefits of offshoring all or parts of your business to Singapore comes down to getting expert advice from an international law firm.
VanillaLaw LLC is a boutique firm with a worldwide view with its headquarters in Singapore. Working collaboratively, they provide expert legal structuring advise and services and connect businesses with investors, helping clients de-risk growth and achieve their wealth ambitions. Watch & listen to what our Founder has to say.
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