Why do business in Singapore?

• Read about Singapore »
  Singapore is a Commonwealth country located at the tip of the Malaysian peninsula with an area of 622 square kilometers. In 1965, Singapore broke away from Malaysia and become a sovereign state in its own right. Due to its colonial background of Britain, Singapore is now using English legal system and its official language is English.
  
  Singapore is a major international financial and trade center in Asia and in the world. In recent years, as the economy is shifting to Asia, Singapore becomes one of the most significant designations of doing business in Asia. Singapore is also a rival to Hong Kong to be the world largest container port. Singapore has excellent professional infrastructure such as major international banks, law firms, and accountancy firms. The local currency is the Singapore Dollar.
  
  Singapore’s corporate tax rate is a flat 17%. In order to attract small and medium size companies, Singapore government implemented tax exemptions/incentives scheme to Singapore resident companies.

  • Below SGD$100,000 taxable income: 
    The corporate income tax rate is 0% on the first S$100,000 taxable income for 3 years for a newly incorporated company that meets the following conditions:

  • incorporated in Singapore
  • a tax resident in Singapore
  • less than 20 shareholders of which at least one is an individual shareholder holding at least 10% of shares.
  • 8.5% tax on taxable income of up to SGD$300K: 
    8.5% tax rate on taxable income of up to SGD$300,000 per annum. The taxable income above S$300,000 will be charged at the normal corporate tax rate of 17%.

  
  
  .