Singapore’s Popularity

Singapore enjoys popularity for companies registering there. Singapore is an extremely successful country which has managed to attain a ranking of the world’s 3rd wealthiest country in the Forbes magazine. It is also considered to have the highest quality of life rating in Asia and a very competent and stable political system. Although Singapore has all these qualities it is not these that make so appealing to companies that register there rather, it is their very low tax rates for businesses that do. Singapore, as an incentive, even allow companies just registering, a 3 year tax reduction on their already low rates. This coupled with the fact that Singapore is ideally located to make the most of east west trade, makes it a very appealing option for any corporation or business to consider. One of the added bonuses is that businessmen can take advantage of Singapore’s east immigration laws which apply to businessmen and entrepreneurs. Singapore is also recognized as the best country in the world in terms of getting a competent and qualified workforce if one is needed. For a company to register in Singapore though, it must have certain criteria or at least agree to reach and maintain that criteria and although the regulations are not harsh, as Singapore welcomes foreign businesses, a business wishing to attain Singapore registration may need assistance. This assistance can be afforded by href=””> and similar businesses based in Singapore. There are three main criteria which have to be complied with in order for a company to be eligible for registration in Singapore and they are: A nominated Singaporean director, a legitimate Singapore business address and a corporate secretary that is a citizen of Singapore. The business address in Singapore must be more than just a post office box number as it must, at the very least, comprise an office which must be open during usual business hours which will of course mean that it has to be staffed. The director does not actually have to be a Singapore citizen as a permanent resident will also suffice but unless a director already has a Singapore employment card, an extra director will have to be nominated. The nominated director of course does not have to take any active role in the business, not at the level of making policy decisions or financial ones at any rate but, they must be seen in Singapore as the company’s figurehead. The corporate secretary, that must be a Singapore citizen, is to be responsible for keeping any of the company’s accounts and records which are mandatory for the Singapore government. It are the businesses like the one mentioned above that can assist a business in reaching these criteria by finding them available office space, suggesting possible directors if needed and even, if necessary, acting as the business’s corporate secretary if one can’t be found. As the business world becomes more and more financially turbulent, increasing numbers of businesses are seeking to benefit from the lower tax rates Singapore offers.

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