Top 3 countries in Asia for starting a startup
Several countries in Asia can be identified for starting a startup. The territory allows the development of innovative and technologically valuable projects. The advantage of registering a startup in 2021 is that the cost of doing business there is relatively low, the region has a high level of education, and investors are interested in projects in these territories.
Opening a company in the UAE for a startup is in demand, especially in Dubai. It is one of the seven emirates, which is conveniently located between Asia and Africa, and Europe. The special economic zone offers positive conditions for business.
The UAE does not tax commercial income for most types of businesses. The exceptions include companies that specialize in oil and gas production, as well as branches of foreign financial institutions. Contact our specialists at IT-OFFSHORE to clarify the details of registration.
Opening a company in Singapore for a startup is relevant to those who plan to legally optimize taxation. The opening procedure is quite simple. The state is characterized by a strong economy, which is based on innovation and a high level of infrastructure.
Another plus is that English is common in the territory. The normal corporate tax rate on income is 17%. However, the levy is not imposed on 75% of the first 10,000 SGD of taxable income. Singapore is becoming an attractive option for investors.
Opening a company in Hong Kong for startup 2021 has many advantages. The territory is a competitor to Singapore in terms of business advantages and ease of doing business. Foreign investors can take advantage of the reduced tax regime.
It is relatively easy to register a company. The standard corporate tax rates are 16.5% and 15% for unincorporated companies. Businesses from abroad can expand their presence in Asia by opening a branch in the jurisdiction.