Republic of Singapore
Business in Singapore, has a reliable economic status, is quite simple to maintain and not expensive, which makes registering a company in Singapore reasonably profitable. Today, Singapore occupies a strong place in the global economy. The economic development of Singapore testifies to the reliability and efficiency of this jurisdiction for registering a company or buying a company. The Singapore government creates a very favorable business climate, the advantages of working in which businessmen from all over the world can experience.
Opening a company in Singapore is an excellent solution for those who are looking for favorable conditions for business development, as well as those who plan to work with countries in Asia, Europe and the USA.
There are several types of companies in Singapore, but the most popular are Pte Ltd. – Private Limited Company.
Singapore has a territorial principle of taxation, that is, firms that do not operate in Singapore are exempt from paying taxes at the place of registration. There is also no VAT, capital gains tax and dividend tax in Singapore.
Financial statements are submitted once a year, but in Singapore, small companies are exempted from an annual audit. Organizations in this category include:
-The company’s total annual revenue must not exceed $10 million. USA;
-The total assets of the company at the end of the financial year must not exceed $10 million. USA;
-The number of full-time employees at the end of the financial year should not exceed 50.