Buy a ready-made company in Singapore in 2023
Experts expect Asia-Pacific sales to be higher than in other parts of the world in 2023. Therefore, companies need to take care of their presence in the Asia-Pacific region in advance by opening a ready-made company in Singapore in 2023. A business without dark history, registered several years ago, inspires confidence in buyers and lenders. It showcases their products and services at their best and helps to generate profits.
Advantages of buying a ready-made business in Singapore
Registering a business from scratch in Singapore takes a lot of work. You have to collect documents, go through numerous inspections, and open a bank account. All this can take several months or even more. Therefore, the ideal solution is to buy a ready-made business in Singapore. In order not to make a mistake and not buy a company with debts, you can choose a shelf company. It was created specifically for sale and has never worked. So you can be sure it has no loans, no dark history, and no unfulfilled obligations.
Other advantages of buying a ready-made company in Singapore include:
- A ready-made bank account and other documents.
- Beneficial tax system. For example, there are no taxes on capital gains or dividends received from the business. Also, there is an opportunity to avoid double taxation.
- Active support for start-ups. For example, during the first 3 years, the new business gets significant tax benefits (0% on the first S$100,000). There is also an opportunity to get grants and subsidies for business expenses.
- Ease of doing business.
- Absence of currency control.
- A company can be fully owned by a foreigner.
- Favorable geographic location.
- The reliable economic and political environment, developed financial system.
- Strict adherence to the law and minimal corruption.
- High quality of life.
Almost every young or middle-aged Singaporean perfectly knows English, so there will be no problem with communication. In addition, thanks to the excellent education system, Singaporeans are known as literate, productive, and well-trained employees.
ONE Pass program
If you are planning to relocate a highly skilled employee to Singapore when you purchase a ready-made business or are a highly skilled employee yourself, consider the new Overseas Networks & Expertise (ONE Pass) visa program that will take effect on January 1, 2023. The government simplifies visa rules for:
- foreign employees with a salary of S$30,000/month or more;
- people who have achievements in science, sports, culture, science and technology.
Employees who have obtained ONE Pass visa can live in Singapore without confirmation from their official job. The permit is valid for 5 years, so the company owner does not have to worry about renewing it all the time.
Other benefits of the program:
- ONE Pass holder can manage and work in multiple companies in Singapore at the same time. Spouses of visa holders can easily move to Singapore, live and work in the country. When changing jobs, there is no need to apply for a new residence permit.
- The applicant must prove their qualifications or salary to get a pass under this program. At the same time, they must be prepared that ONE Pass beneficiaries, including the companies, will be under surveillance.
How to buy a ready-made company in Singapore
Contact IT-OFFSHORE experts to buy a ready-made company in Singapore quickly and profitably in 2023.