5 Reasons Why You Should Set Up a Company in Singapore

5 Reasons Why You Should Set Up a Company in Singapore

In today’s business world one of the reasons you can take into consideration when you set up a company in singapore or any country is the ease of doing business there. Will you have a hard time in your set up of the company or will you have it easy? Singapore has been consistently ranked at the top as a country that is easy to do business in. If you are wondering why the country has maintain its placed among the top of the business world, here are the five reasons why.

Why Set Up A Company In Singapore

1) Business in Singapore is conducted in English

English is one of the official four languages of the country, and it is the language used in business. So, if you are a foreigner planning to do business in the country you don’t have to worry about not being able to communicate or understand anyone because they will be talking to you in English. English is also the first language taught in schools, and it is the language used in the workplace. This fact makes it more convenient and more effective on your part as the business owner because there is no need for you to train a special team just to learn another language. Doing a company registration will also be easy for you because the documents are in English. And since English is one of the major languages of the nation you can be sure that even your customers or potential customers will be talking in English.

2) Efficient transport that links to regional countries

Admit it, when you decide to set up a company in another country your biggest goal is to set up a base so that you can branch out to other regions of the area. Singapore has numerous links to it neighboring countries particularly in East and Southeast Asia. You can easily move up your company formation from just a branch into a regional or even international headquarters, especially if you already have an establish company or corporation in your home country.

3) Well trained workforce

Singapore boasts of a good business environment as well as a well trained workforce. This trained workforce development is the result of the country’s extensive attention to its educational system, which results into highly qualified individuals working in the different industries of the nation. This is a main point to consider, especially in company formation since any business will only be as good as the people who handle and work in it.

4) Excellent environment for Senior Executives family

As a senior executive of your business, you will find that it is easy for you to relocate your family from your home country into Singapore. Once you have established your business in the country and have reached the requirement of the Ministry of Manpower you can apply for a Dependant’s Pass which will allow you to bring your family into the country. The requirements necessary to apply for a Dependant’s Pass is as follows:

Family MemberTotal Annual Company SpendingEmploy at least
Legal spouse & Kids$100,0003 local FTE or 1 PME
Parents$200,0006 local FTE or 2 PME

For more information about the requirements needed by the Ministry of Manpower for giving Dependant’s pass, click on the link below:

http://www.mom.gov.sg/passes-and-permits/entrepass/passes-for-family

5) Transparent Government regulations

The government of Singapore has established clear and transparent rules about how to set up a company and as well as the whole company registration process. This much-needed information for businessmen can easily be viewed and checked at ACRA’s website. All the information you need is in the website, the registration is done online which makes it faster. And if you are a foreigner who has no idea on how to register a company, you don’t have to worry because you can learn the whole process through ACRA’s website. The country’s stable governance ensures that you won’t have to deal with red tape culture when registering and doing business in Singapore.

These five reasons make a set up a company in Singapore not just a lucrative deal for you but it also shows you just how business friendly and safe the country is for any businessmen. Why risk your time and resources in a country that offers less than what Singapore can offer? Set up a company in Singapore now!

If you need help in registering your company in Singapore, give us a call we will assist you meet the requirements laid out by ACRA, from having a secretarial company register your business to filing the necessary documents. Contact us now.