Company and account in Singapore for international trade
Singapore has established itself as a reputable financial international trading center. Therefore, it is not surprising that more than 150,000 small and medium-sized businesses have set up branches here for international trade. Among its advantages are access to the Asian market, ease of doing business, and having the busiest port in the world. Registering a firm can take time, so if you don't want to waste time when you could have made money, we recommend buying a ready-made company and bank account in Singapore.
The advantages of Singapore for international trade
Whether you are a non-resident individual or a small / medium / large company, choosing Singapore will give you an excellent launching point for the Asian markets. You can take advantage of the trade agreements the jurisdiction has with many countries around the world, the attractive tax system, and strong intellectual property protection.
The attractiveness of the jurisdiction is evidenced by the numerous awards and high places in various rankings, including:
- Best Business Environment in Asia Pacific (APAC) and the World in 2019;
- No. 1 in the APAC and No. 5 in the world for Best Global Innovation in 2018;
- No. 2 in the world for economic freedom (2018);
- No. 2 in the world for ease of doing business;
- No. 2 in Asia and No. 7 in the world for best supply chain efficiency (2018).
Ease of starting a business
The World Bank ranked Singapore as the best place to do international business in 2019. Compared to other business centers, opening and buying a ready-made company in Singapore is quick and hassle-free, as long as all the paperwork is done correctly. The owner can be anyone, including a foreigner. Another plus - company registration is possible through online services that allow you to apply at any convenient time.
Singapore boasts a stable political situation, which allows the company not to worry about sudden regime change. The judicial system is one of the most efficient in Asia, allows you to really fight corruption, so investors calmly conduct business without bureaucratic delays. Thanks to the quality of the police in Singapore has a low crime rate, which provides high security of goods. If international disputes occur, companies can rely on the local court.
Singapore is close to emerging markets in Asia, which makes trade much easier. Planes land here every day and ships from many countries of the world dock here, making trade transactions easier and more convenient.
Network of trade agreements
Singapore maintains good trade relations with other countries, and has signed many free trade and investment guarantee agreements. These agreements streamline international trade and make it cheaper to expand into other countries.
Developed banking sector
Singapore boasts a developed banking sector. There are more than a hundred commercial banks, so a company can open a bank account in Singapore, get quality services.
The largest banks in Singapore are:
Buying a ready-made company is beneficial because the businesspeople will automatically buy a bank account as well. He/she won't have to open it in person, and he/she won't have to go through inspections.
Singapore boasts one of the friendliest tax systems in the world and does not tax dividends, capital gains from businesses. There is a multi-level approach to taxes here. For example, in the first three years businesses are given various incentives that help them save a lot of money. In addition, the jurisdiction has signed agreements on avoidance of double taxation with many countries.
How to buy a company in Singapore
To buy a company and account in Singapore 2022 for international trade, contact IT OFFSHORE experts and we will help you.