Singapore is one of the business epicenters in Asia. Its strategic geographical location along with considerable development in various spheres…
Singapore is strategically located in the heart of Asia, giving businesses access to the region’s fast-growing markets. Singapore’s extensive connectivity to regional and global markets has established itself as a connecting hub from Asia to the world and vice versa. There are numerous reasons that make Singapore lucrative for foreign businesses to enter, establish and expand.
- Corporate Tax: Companies operating in Singapore (residents and non-residents) are taxed on Singapore’s income if they occur in Singapore and on foreign income if they are transferred or deemed to be transferred to Singapore. Corporate income tax is levied at a flat rate of 17%. Qualified start-ups have a partial tax exemption and a three-year start-up tax exemption.
- Strategic Location: Singapore has strong business, cultural and linguistic connections with many Asian markets. In addition, Singapore’s cultural and linguistic connections across Asia, a highly skilled workforce and openness to top global talent will help Singapore support Asia’s global business community.
- Financial Hub: Singapore has developed as Asia’s largest forex and commodity trading center and is growing as a wealth management hub.
- World-Class Infrastructure: Singapore’s world-class infrastructure is among other notable factors including top quality inputs, innovation, financial resilience, political stability, financial prudence and culture. It can be traced back to Singaporean diversity.
- Business-Friendly Environment: The government continues to provide the economy with public investment, such as transportation infrastructure projects and programs that facilitate future economic transitions. No wonder successful businesses such as TikTok, Zoom and a plethora of new age digital enterprises are venturing into Asia via Singapore. Free trade, bilateral and partnership agreements by the Singapore government with other nations nurtures this business friendly environment.
- Foothold Establishment: Consulti is uniquely positioned to help international companies enter Singapore and other Asian markets. We specialise in delivering solutions within Asia, developing and executing market entry and commercialisation strategies. With our unique blend of regional relationships, industry expertise and local knowledge, we work with businesses to formulate an optimal strategy for regional operations.
- Business Continuity: We help with sound business continuity services that are deemed essential for new enterprises upon establishing in Singapore. Liaise with us for your regional or local resident director requirements, company secretarial services, accounting, auditing and many more. If you are not keen at going large scale in the beginning, our provision of registered office address can be availed.
- Ongoing Compliance Management: Our services reduces the burden of organizations’ internal resources in ensuring compliance with ongoing regulatory changes, helps in dispute resolution, regulatory due diligence, MAS internal audit, MAS licenses, mock MAS reviews, operational due diligence and supports ongoing compliance advisory.
Gain a Foothold without a Local Presence
Businesses can gain a strong foothold locally in Singapore through us. We are committed to guide on Singapore market entry, market assessment and research. We search for business partners or investors in Singapore on behalf of you, help in the establishment of a back office in Singapore, provide training on cultural awareness in Singapore, do due diligence of potential partners, and assist in preparation for Singapore government grants.
Make Wholesale Trading Easier
We help wholesalers and distributors around the world successfully overcome regional challenges and grow profitably within Asia. We have achieved this over the years by developing state-of-the-art analytical solutions that specialize in the industry’s high transaction strength. Consulti has a deep understanding of the challenges and dynamics of distributors and wholesalers. We incorporate the spirit of pioneer consulting into our services and strive to provide our customers with lasting solutions.
Optimize your Tax Planning
Globally, Singapore is arguably one of the most attractive tax destinations for businesses and individuals alike. Taxes reduce income and ultimately profits, so they are often the evil that entrepreneurs need to see with contempt and misery. Consulti helps entrepreneurs develop prudent tax plans to minimize tax liabilities. This can bring significant savings to the company in the long run. Get in touch with our experts to know more about government allowances, incentives, exemptions, grants and other tax benefit schemes.
Better Navigate the Compliance Requirements and Banking Systems
It is important for foreign business entities to comply with Singapore’s business laws or regulations when starting operations inside the island. Under the Singapore Companies Act, companies must meet the annual submission requirements to the Accounting and Corporate Regulatory Authority (ACRA) and the Inland Revenue Authority of Singapore (IRAS). Both active and dormant businesses in Singapore are required to submit returns annually. With Consulti, you will be better off at navigating through the mandatory compliance requirements. We ensure hassle free corporate and personal banking assistance ensuring your smooth operations in the region.
Bypass the Big Accounting and Churn and Burn Service Providers
Consulti is an integrated management consultant that provides insightful accounting and compliance advice while doing expedient work to help clients build a strong entrepreneurial backbone when entering a new geographic market. We help companies achieve their financial goals by providing value-added services to improve their financial performance and compliance status. Leave your accounting tasks to us while entering Singapore and bypass all those churn and burn service providers engaged in your business expansion.
You are only a few steps away from a fruitful relationship with Singapore. Key in your credentials in the form below to find out more.
Singapore is not only leaving a mark on the business world but also steadily becoming one of the best academic…