Singapore is honor many tributes for its business-friendly rules and policies in company registration process. These rankings have been bestowed by pioneering and leading international organizations like the World Bank. In other words, they provide a sovereign confirmation of the country’s pro-business attitude for the last several decades.
Singapore was graded as the best country in the world for “doing business competing with 189 countries
In 2016, for the tenth consecutive year, Singapore was grade as the best country in the world for “doing business competing with 189 countries. Above all, the survey was conduct by the World Bank Group.
Forbes ranks Singapore as the third richest country in the world base on its per capita GDP. According to Mercer’s 2014 survey and review on the Quality of Living Worldwide City Rankings, Singapore is Asia’s best city in terms of living. Similarly, in 2014, the Economist Intelligence Unit (EIU) place Singapore as number one among the 82 countries charted by EIU for its “efficient and open economy.”
Singapore has high ranking for 7 successive years
Singapore has been adorne with this ranking for seven successive years. The US-based Business Environment Risk Intelligence (BERI) research group bestow Singapore the highest ranking in the same year on the efficiency of its workforce.
Singapore is grade as the 2nd best country for its Intellectual property guard in WEF’s Global Competitiveness Report 2014 – 2015 survey analysis. The IMD World Competitiveness Yearbook in 2014 chronicles Singapore as among the least bureaucratic countries in the world, the ranks being 3rd in the world, and 1st in Asia.
Singapore government help start-ups and offers many resources for the development of new businesses
Singapore’s government is helpful and kind to start-ups. It offers many resources for the development of new businesses, such as endowments, tax inducements, and in-kind aid. The type of help available hinge on the start-up’s needs as well as its aptitude to meet the qualifying necessities.
Many of the resources become obtainable simply by integrating your start-up in Singapore. The company registration laws and pre-requisites are also very cohesive and simple. That is also one of the prime reasons why Singapore attracts so many business ventures.
Company registration process in Singapore
There are certain pre-requites to the simple company registration process in Singapore. The company name needs to be finalize and sanction before registration. No duplicate names are permit. One needs to recruit a minimum of one resident director for the company. An infinite number of resident or non-resident directors can be recruite as well.
Both resident and non-resident directors need to be 18 years old or more, not bankrupt. As well as and not a part of any malpractice charges and legal and criminal matters in the past.In Singapore, a company can have somewhere between 1-50 stockholders, which may or may not be in the post of the director.
The shareholders can comprise of both resident and non-local persons or companies. 100% non-local shareholding is permit in Singapore. After a Singapore company is register, shares can be freely distribute or relocate at any given time and situation.
Singapore has been designated as the 2nd freest economy in the world
Singapore has been designate as the 2nd freest economy in the world. In other words, this makes it an inordinate place for start-ups to function. A person is capable to set up a business in any segment; trade is not limit; and exchange is robust and steady, permitting for capital to flow effortlessly within or outside of the country.