Singapore is a nation that is open to start-ups, allows trade across borders, and enforces regulations that protect its employees and investors. It is therefore a smart decision to finance your start-up here. Singapore is a country that is a major player in regional trade and is a trusted financial center, making it one of the most lucrative countries for business investors.
As of this writing, Singapore has more than 100,000 small and medium-sized enterprises (SMEs). All of these businesses benefit from Singapore's pro-business policy, which includes a flat corporate income tax rate of 17%, which is further reduced to 9% for companies earning less than S$300,000. These SMEs are estimated to contribute 35% of the country’s economy.
They also employ over half of the workforce in Singapore. Singapore currently hosts more than 70 international airlines. It has also signed free trade agreements with major world economies like Australia, China, New Zealand, the United States of America, and the EU. You can avail all such benefits by setting up your business in Singapore. You can get help from a professional company formation company through https://www.wlp.com.sg/company-setup-singapore-all-you-need-to-know/ for this process.
These agreements provide greater business opportunities for Singaporean businesses and help in leveraging business operations in Singapore to other nations around the world.
Singaporeans and permanent residents can all form their own start-ups in Singapore, regardless of whether they are looking to establish a private limited company or sole proprietorship.
Foreigners and non-residents alike can easily incorporate a business by appointing a nominee director who is a resident, and "renting" an address.