Since the independence of Singapore on 9August, 1965, its legal system has been based on the British common law. The strict nomocracy has stabilized the country, and its economy has grown exponentially, which makes it one of the Four Asian Tigers.
Singapore is one of ASEAN Member States, so the trading between private limited companies and ASEAN Member States can enjoy preferential policies. In addition, Singapore enacts strong intellectual property protection laws and has Double Taxation Agreements with many countries in the world. Companies operate locally in Singapore can apply for work permits to enable the family relocation.
The advantages of Singapore Company
1. Singapore Private Limited Company is not required to pay import tariffs when trading with other ASEAN Member States.
2. The most stable political, economic and governance environment is well suited for the protection of intellectual property rights.
3. No foreign exchange control, easy to raise funds.
4. Singapore companies can be listed on the Singapore Stock Exchange (SGX), the Australian Stock Exchange (ASX) and the New York Stock Exchange (NYSE).
5. Profits from offshore operations that are not remitted to Singapore are tax-free, and only annual return and accounts audited by local accountants in Singapore are required every year.
6. Signed Investment and Double Tax Protection Treaties with many countries.
7. Singapore is ranked as the most innovative entrepreneur city in Asia with the talented labor force, relaxed regulation and well-developed technological infrastructure.
8. Allowed foreigners to own 100% of the shares of a Singapore registered company without the need for local partners and shareholders.
9. Singaporean companies are not levied the taxes on international income, all forms of dividends and capital gains under a reasonable structure.