If you are venturing in to international business that provides you credibility and sound business environment, then Singapore will be the top choice for you. Setting up company and bank account in Singapore is a very simple process. Singapore is a world-class top ranking city to work, live and play. Being a multicultural city that is globally connected makes us an attractive destination for businesses, tourism and migrants. Our political stability, excellent infrastructure, well-developed capital markets, highly educated workforce and rich heritage make Singapore an extremely conducive and interesting environment for growing businesses.
Singapore offers one of the most efficient corporate and personal tax regimes in the world. Based on Year of Assessment 2012, individuals who are tax resident in Singapore has personal tax liability starting as low as 0% to a maximum of 20% for income exceeding S$320,000. Whereas for corporate tax, newly incorporated companies are allowed a tax exemption of first S$200,000, subject to conditions, where it is considered a “zero-tax jurisdiction”. For taxable profits more than S$300,000, tax rate is flat at 17%. Capital gains in Singapore are not taxable. Following a one-tier tax policy, dividends issued to shareholders are exempted from tax.
To setup a singapore company with bank account, contact our support team.