Singapore is a crucial link between the western and the east hemispheres due to its strategic geographical location. It’s a city that has been chosen as the regional headquarters of major multinational companies primarily due to its extremely favorable business environment. This is why this multi-cultural ultra-modern cosmopolitan city state has one of the largest populations of foreign workers in Asia. This remarkable influx of foreign expertise is made possible by the flexible immigration laws in place within the island city state.
Singapore is a centre of global commerce welding substantial economic clout within Asia and the world as a whole. Businesses setting up shop within Singapore leap immense benefits in the form of free trade agreements, double taxation exceptions and numerous trade incentives that ensure an environment conducive to unparalleled business success.
The Online business registry
Before setting up a company in Singapore, one needs is to register the business at the Bizfile site, an online registry run by the Accounting and regulatory authority. The site will offer the necessary financial and legal services a business requires in order to start full scale operations. The site registers all forms of business venture, regardless of whether the business is a foreign branch of an already existing company or a business start-up beginning from scratch.
The Bizfile site will have links to the Monetary Authority of Singapore which deals with business intending to operate in the banking, insurance and other finance related sectors, the Attorney Generals Chambers which handles all the legal aspects of the registration process and the International Enterprise Authority which deals with businesses intending to operate in the manufacturing, franchise and numerous other service industries. The online business registry ensures that businesses are able to register in the least time possible, with the least hassle and with the highest level of compliance to regulations.
Additional benefits of setting up a company in Singapore
Businesses benefit from a wide array of premium facilities from which to operate. These include offices located in the towering sky scrappers at- heart of the city’s civic business district, spacious factory facilities located in the city’s industrial zones and offices housed in converted residential abodes located in expansive suburbs of the Singapore. An extensive modern and optimally regulated transport infrastructure ensures workers get to work on time, products and services reach their destinations on schedule and business operations run at maximum capacity all year round. The city state’s immense population is guaranteed to quench the workforce requirements of any business regardless of the level of expertise required. Singapore is indeed the place to be in Asia.