Why Setup a Company in Singapore
Asia is a sanctuary ripe for any business undertaking. Singapore, a city-state occupying 2.718 square miles off the southern tip of Malaysia has been the conduit of choice for any ripe business engagement. What it lacks in size it makes up in its vast and highly-developed economy with a maddening 2010 GDP growth rate of 17.9%, the fastest growing economy the world has seen after the 2009 global private banking crisis. A former British colony, Singapore is among Asia’s proficient English language communicators for non-English speaking countries and which plays a contributive role in making the city-state a leading financial haven for east and west. Its becoming a member of the ASEAN results in its housing more than a hundred commercial banks, and which has since strengthened its claim for being the most strategically significant Asian backbone for finance and global trading. Simply put, Singapore has become the “Switzerland of Asia.” And it is for that reason why entrepreneurs are eyeing Singapore for future financial investments. Recently this year, Swiss private banking is making a detour of its business operations to Asia, specifically to Singapore in the face of the former’s crackdown. Such act is spearheaded not only by Asia’s growing numbers of millionaires. But also because Americans and Europeans who have been harassed by mounting scrutiny from tax authorities in their land of origin find solace in Singapore private banking secrecy law. From Switzerland’s largest bank, UBS, to its smaller private banks the likes of Julius Baer, Swiss banks are diverting cash flow in huge quantities to expand their business in Singapore, thereby compelling Raymond Baker of Washington Research Institute’s Global Financial Integrity to exclaim, “Hundreds of private bankers in Singapore are hired to take their business out from Switzerland.” UBS being among the few to have expanded its business earlier in Singapore and which has the Singaporean government as one of the bank’s biggest shareholder—at 9% since diluted —confessed it has lost $200 billion in assets in private banking clients in Switzerland. Nonetheless, in Singapore, it has won more new money than it has lost based on its August presentation to investors by Jurg Zeltner, USB’s chief executive of wealth management. Besides this blistering fact, Singapore maintains a just and sensible regulation. Its accounting policy is among the world’s most conservative, specifically its inventory accounting and expensing of stock options, which are more conservative than the ones employed in the United States. When it comes to educational performance, Singapore’s one of the finest and such is unmistakable in the huge number of internet users than its TV watchers. Singapore is a melting pot in Asia. 77% of its population makes up the Chinese race, 42% are foreigners of diverse ethnical background, 14% are Malays and 8% are Indians. Setting up a company in Singapore is simple. Despite that however, authorities do not allow foreign investors to process the setup or the company’s registration.
“The procedure composing a company setup is beaconed by another firm created solely for providing business solutions to entrepreneurs,” beamed a business consultant of Rikvin, “and this includes company registration or incorporation, relocation of foreign staff and management team as an option, accounting services, appointment of company secretary, and tax filing requirements.” Doing business in Singapore is made easier as a foreign investor may only relax while a firm like Rikvin works its way to the Company Registrar to carry out everything necessary in a company setup. Located at the heart of Singapore, Rikvin, a business solution provider has been instrumental in helping foreign businessmen settle in Singapore. About the Publisher: Rikvin is the leading incorporation company registration Specialist and has successfully helped thousands of foreign entrepreneur incorporate Singapore Company. The firm provides a complete corporate solution under one roof for company registration services of private limited companies with the opening of corporate accounts, business registration including accounting, tax, immigration related to work passes visa and compliance services in Singapore. Our office is located at Raffles Place, in the heart of the Singapore business district. ("CBD") If you're in our neighborhood and want to discuss any aspect of our service then feel free to come in to our offices during business hours. Rikvin PTE LTD Address: 20 Cecil Street, #14-01, Equity Plaza, Singapore 049705 Phone: +6564388887 Website: http://www.rikvin.com