10 Reasons Why Singapore is a Good Choice
1. Low Corporate Tax
Personal income taxes range between 0 to 22%.
Businesses In Singapore are also subjected to a Flat corporate Income Tax rate of 17%
2. No Capital Gains Tax
No income tax is due on sales of shares and equities, properties, intangible assets, Crypto currency etc.
However if the income is from a business activities, then income tax may vary.
3. No Withholding Tax on Dividends
Personal income taxes range between 0 to 22%.
Businesses In Singapore are also subjected to a Flat corporate Income Tax rate of 17%
4. Crypto Center
The Monetary Authority of Singapore (MAS) has carefully monitored blockchain businesses and crypto activity previously and has encouraged the safety, expansion and development of Crypto by creating the infrastructure for this emerging industry.
5. Tax Exemption of Foreign Income
Foreign income is not taxable in Singapore until such income is received or deemed received in Singapore.
Singapore tax Residents benefit from tax exemption on foreign dividends, foreign branch profits and foreign-sourced service income under conditions.
6. Ease of Investment
Foreigners can easily invest in Singapore.
- 100% foreign ownership except in certain areas of national security.
7. Ranked the Most Competitive Country in the World
World Economic Forum’s Global Competitiveness Report for 2019 ranked Singapore as the most competitive in the world.
Source: World Economic Forum 2019
8. Intellectual Property Protection
Singapore is one the safest places to protect Intellectual Property rights. Having one of the most robust Legal structures in the World
9. Ease of Investment
One of the most innovative Nations in the world.
Bloomberg 2020 Innovation Ranked Singapore as the 3rd most innovative country in the world.
World Economic Forum 2020 Global Innovation Index ranked Singapore as the eighth most innovative country in the world out of 131 countries.
Source: Bloomberg Innovation Index and World Economic Forum
10. Global Network of treaties
Singapore has a number of Avoidance of Double Tax Agreements(DTA) in place signed with more than 80 countries.
It has in place Free Trade Agreements with US (USSFTA), China (CSFTA), European Union (SUSFTA)