Why Singapore is a great place to set up a trading company - There are many businesses that you can start and when you want to start a company in Singapore, it takes just a few days to get things going.
Singapore is famed as one of the top locations in the world to set up a company.
Within a day you can get your company registered and within a few more days your bank account opened.
This is something that is hard to come by in many countries as Singapore is glad to share that it has the ease of starting a business as a strong strength in Singapore.
Singapore is one of the top locations to set up a trading company and let us now share why this is the case.
1. Singapore has one of the lowest taxation rates in the world Singapore has a maximum corporate tax rate of 17% making it one of the lowest in the world.
The thing is there are areas in the world where this is even lower at 0% even, but everyone knows where they are and also the fact that they are very well known makes the ethical moves of doing this very shady.
You could instead think of how to lower your tax rate legally which is to set up in Singapore.
2. Singapore has a strong legal system in place Trading means entering into contracts that will bind you and your buyers and also your suppliers. When you want to enter into contracts, you will want to enforce them in Singapore.
Singapore’s contract law is very strong with it being one of the most developed in the world.
You will have ample protection from the law if the trade gets into any trouble
3. Singapore has a very developed and mature banking system The problem with lower tax jurisdictions is the fact that there are not many banks to work on the things you want to do. And with that you will have issues with doing business.
in Singapore, you have a strong banking system in place which makes it easy for you to start a company and do your trading work. You have a strong internet banking capability as well which makes it convenient for you.
If you are keen to set up a trading company in Singapore, speak to us for your incorporation services needs. We are also able to provide accounting services for your company and many more corporate services.
Why Singapore is a great place to set up a trading company