Buy a ready-made company in Singapore in 2023
Experts expect Asia-Pacific sales to be higher in 2023 than in other parts of the world. Therefore, it is important for companies 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 that is not implicated in black histories, registered several years ago, inspires confidence in buyers and lenders, showcases their products/services at their best, and generates profits.
Advantages of buying a ready-made business in Singapore
Registering a business from scratch in Singapore is not easy. You have to gather documents, go through numerous inspections, open a bank account. All this can take several months or even more. Therefore, the ideal option is a ready-made business in Singapore. In order not to make a mistake and not to buy a company with debts, you can take a shelf company. It was created specifically for sale, has never worked anywhere, so it has no loans, no black history, no unfulfilled obligations.
Other advantages of buying a ready-made company in Singapore include:
- A ready-made bank account and other documents.
- Attractive tax system. For example, there are no taxes on capital gains or on dividends received from the business, there is an opportunity to avoid double taxation.
- Active support for start-ups. For example, the new business in the first 3 years gets significant tax benefits (0% on the first S$100,000). There is also an opportunity to get grants, subsidies for business expenses.
- Ease of doing business.
- Absence of currency control.
- Business can be fully owned by a foreigner.
- Favorable geographic location.
- Reliable economic and political situation, developed financial system.
- Strict adherence to the law, minimal corruption.
- High quality of life.
Almost every Singaporean young or middle-aged perfectly knows English, so there will be no problem in communication. In addition, thanks to the excellent education system, Singaporeans are known as literate, productive, 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. With it, the government has decided to simplify visa rules for:
- foreign employees with a salary of S$30,000/month or more;
- people who have achievements in the fields of 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. There is no need to apply for a new residence permit when changing jobs.
- To get a pass under this program, the applicant must prove their qualifications or salary. At the same time, they must be prepared that they or the company that wants to benefit from ONE Pass will be under surveillance.
How to buy ready in Singapore profitably
To buy a ready-made company in Singapore quickly and profitably in 2023, contact IT-OFFSHORE experts.