4 essential resources that are relevant to doing business with Singapore-
Besides having one of the lowest corporate tax rates, Singapore is also considered by many as the gateway to ASEAN. In addition, its many business-friendly policies make it easy for companies to set up and run their businesses in this South-east Asia country.
Extensive double tax treaties-
Singapore has an extensive network of double tax agreements (DTA) with more than 80 countries across the globe. The key benefits of a DTA are a) the avoidance of double taxes, b) lower withholding taxes, and c) preferential tax regime, all of which play an important role in minimizing the tax burden for a holding company structure.
Conducive environment and highly-developed infrastructure-
The country’s stable political environment, public services convenience, diverse range of facilities, and cosmopolitan ambience makes Singapore an increasingly attractive destination. Singapore’s high quality of life has been consistently validated in various surveys such as the Mercer’s Quality of Living Survey.
Efficient legal system-
The Singapore legal system has received global recognition for its efficiency and integrity, and the country is deemed to be the least bureaucratic one in Asia.
No Corruption –
Most entrepreneurs shudder at the thought of dealing with unscrupulous officials in Asian economies where “connections” or bribes are often the only way to get things done. Singapore is the exact opposite. The country has virtually no corruption because a) most government officials are very well paid, b) very harsh punishments are imposed for corruption.