/ -- Singapore ranks 2nd globally for being one of the easiest place to do business, as per the World Bank's 'Ease of Doing Business Index, 2019'. It tops the rankings and is 1st in the Asia Pacific and the world for having the best business environment according to the Economist Intelligence Unit's 'Business Environment Rankings, 2019', Singapore.
This data again proves that Singapore holds a unique position in the global economy and plays a crucial role as a business epicentre in the heart of Asia. It is a global business hub featuring business-friendly economy, developed infrastructure, political stability, attractive tax laws, open business policies and skilled workforce, among others.
Moreover, the city-state has established itself as a renowned financial and regional trading centre. Owing to its strategic location, it is considered to be the world's busiest port. In fact, a lot of global businesses are today planning to set up their headquarters in the region. The strong trade and investment in Singapore has positioned it as the most competitive Asian country as well as the world's easiest place to do business.
There are very few steps or processes involved in registering a business in Singapore and therefore, company incorporation can be done maximum within 48 hours. Mr. Pankaj Kumar, Partner, IMC Group, Singapore, said, "80% of the total company incorporation done in last one year in Singapore is mainly because the procedures of business registration here are fairly simple and transparent. In addition, Singapore government is actively promoting global trade by implementing new economic policies and an efficient legal framework."
He also added, "Singapore boasts of an efficient economy having business-friendly regulations, good institutions and effective case management, and well-organised dispute resolution. Also, in comparison to other nations, it is quite simpler and quicker to register a business in Singapore, if all the necessities are duly met. Usually, it takes just one day to incorporate a company in Singapore."
IMC offers expert assistance in setting up a company in Singapore. The company's experienced legal advisors help clients in registering a company in Singapore while being compliant with the Singapore company law. Mr. Piyush Bhandari, Managing Partner, IMC Group, said, "Today, Singapore is known as one of the best places to do business in the world. The convenience of doing business in a country is evaluated on the basis of parameters like financial incentives, contract enforcements, taxation, etc. In addition, tax registration process in Singapore is very easy and can be done by simply filling out an online form. The world surely is becoming an easier place for to do business and Singapore tops the list mainly because of various benefits such as low setup cost incorporation that guarantees growth for your business."
About IMC (Intuit Management Consultancy):
IMC (part of CPAAI Network), focusing on AMEA (Asia, Middle East and Africa) markets, offers various market entry solutions such as corporate advisory services, mergers and acquisitions, international tax, global mobility services, corporate finance, investment consultation, and support in business operations and outsourcing solutions.
Reach out to Pankaj Kumar at pankaj@intuitconsultancy.com for guidance on expanding your business in Singapore.
For more information, visit: https://intuitconsultancy.
Disclaimer: No Business Standard Journalist was involved in creation of this content
