Singapore Continues To Be Number One Hub For Investments and Trading
As part of Singapore’s sturdy plan to recompense the global economic impediment, McKinsey’s private banking survey for 2010 revealed that Singapore enjoys a net flow of 7% in 2009, making the citystate a new favorite investment destination among the international business consortia, particularly in private banking. Further, Boston Consulting Group, the world’s leading business strategy advisor observed that Singapore is a host to millionaires constituting 11.4% of its total households, a tremendous proportion the world has ever witnessed. In a survey done by Roubini Global Economics, Singapore is poised to grow its GDP in 2011 by 4.4%. Of late, Goldman Sachs disclosed that Singapore currently enjoys 16.5% GDP growth from its estimated forecast of 12%. Maintaining a jurisdiction of 267 square mile, Singapore is strategically located on the southern tip of Malaysian Peninsula, hosting one of the largest annual trading volumes in the world. Evidence of its proliferating business is Singapore’s hundreds of daily inbound and outbound flights both domestic and international. The World Economic Forum ranks Singapore as the number one in possessing the most open economy for investment and international trade. Furthermore, Singapore’s taxation frameworks are conducive to maintaining a friendly corporate environment among business investors. In contrast to other developed countries, Singapore has a relatively low personal and corporate tax structures. “With the launching the Singapore Institute of Accredited Tax Professionals, the Inland Revenue Authority of Singapore seeks to raise the standards of tax practice and professional competencies of our local tax practitioners,” declared Commissioner Moses Lee, the head of IRAS in Singapore, in his speech during the official launching of SIATP. “To help investors comply with their tax obligations at the lowest possible cost, the accredited tax practitioners are equipped with the necessary expertise and experience to better manage the tax affairs of businessmen,” continued commissioner Lee amidst the applause from spectators composing of entrepreneurs, professionals, skilled workers, and business consultants. Singapore encourages investors from across the world to indulge in the citystate’s promising business merits. The procedure for forming a company in Singapore is forthright. A company, defined as a business and legal entity registered under the Companies Act of Singapore can have the nature of a Private, Public, and Exempt Private. Private companies restrict the rights of its members to transfer their shares in the company to another party without first offering the share’s sale to existing shareholders or without the approval of the company’s board of directors. Public companies are any company that is not private and which may or may not be listed on a stock exchange. In case they are listed, they are referred to as ‘listed companies’, and thus, must comply with the rules and regulations governing the stock exchange to which they are listed. Exempt Private Companies retain their exemption from audit requirements under the Companies Act, and hence, are not required to file their financial statements with Accounting and Corporate Regulatory
Authority. Moreover, they are exempted from restrictions against loans granted to their directors or companies related to their directors as stipulated under sections 162 and 63 of Companies Act. Investors, in pursuit of forming a Singapore company need not be physically present. It would suffice to employ a corporate that provides services ranging from incorporation of a company, to processing of working visas and appointment of temporary Local Resident Director or Nominee Director. About the Publisher: Since its inception, Asiabiz, a Singaporeanbased business solution provider, has been extending assistance to foreign and local entrepreneurs, and professional and skilled workers. Among others, its specializations include immigration services, incorporation services and providing information relating to legalities of corporate and employment. AsiaBiz is the also the leading Singapore Company Incorporation specialists. It has assisted thousands of foreign entrepreneurs form a Singapore Company . Our office is located at Raffles Place, in the heart of the Singapore business district. ("CBD") If you're in our neighborhood and want to discuss any aspect of our service then feel free to come in to our offices during business hours. www.AsiaBizSetup.net address: 120 Telok Ayer Street Singapore 068589 phone: +6563034614 website: http :// www . asiabizsetup . net /
Published on Nov 3, 2010
Published on Nov 3, 2010
AsiaBiz is the also the leading Singapore Company Incorporation specialists. It has assisted thousands of foreign entrepreneurs form a Singa...