Singapore
Introduction
A small island city-state in the heart of Southeast Asia, Singapore has an area of about 719.1sq km. However, its small physical size belies its great economic strength and resilience.
Despite the limitations of a small domestic economy and lack of natural resources, Singapore has established itself as one of the world’s top trading nations, and is consistently voted as one of the world’s best business locations. Singapore’s strategic location and political stability have made it a prime target for many foreign corporations seeking business expansion in Southeast Asia markets.
Facilitating International Business and Investment
Singapore’s tax structure favours company and business, with one of the lowest corporate tax rates in the world. A host of tax schemes and incentives plus various Double Tax Agreements (DTAs) with various countries are in place to help companies grow their businesses.
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The judicial system of Singapore has been recognized as one of the most efficient in Asia, enforcing anti-corruption laws so that investors can conduct their business without the fear of bureaucratic malaise.
According to World Bank’s Doing Business 2016 report, Singapore has topped the list for the ten year running due to its hassle-free business setup processes.
Type of companies available
Any individual of foreign corporation can incorporate a company in Singapore under the Singapore Companies Act (Cap. 50). The regulations largely follows the British Common Law framework such that the company is a separate legal identity and has the rights to own any assets, or liabilities, conduct an legal transactions and can sue or be sued in its own name.
Singapore companies usually ended with the words “Pte Ltd” as part of its name. For general commercial purpose, foreign investor generally incorporate a private company limited by shares, whereas the maximum number of shareholders is limited to 50.