Singapore Success

The relatively small country of Singapore in South East Asia has found tremendous success as a business center for world trade, especially for trade between the east and the west. This success has led Singapore to becoming the third wealthiest country in the world and that success is possibly due to two factors. First of those factors is its location. Located on the tip of the Malay Peninsula, Singapore is on the main shipping route for ships carrying cargo from either east to west or west to east. With a large port capable of dealing with shipping traffic and an airport which welcomes aircraft carrying freight, Singapore has managed to become a major hub for international trading. The second factor that has contributed to its success is the fact that it has a very stable political system and that system welcomes foreign companies to register and do business in Singapore. The success of the country is shared by all that live there as it enjoys a ranking of number one in Asia for standard of living and quality of life. Obviously with companies being encouraged by the government to register there, all amenities that a company may need are easily available and as more companies register in the country, the easier it is for many to conduct business there whether the company is from the east or the west. If you want to register a company in Singapore though, there are certain requirements that you will have to at least agree to before registration and those requirements include nominating a director that is one of the following;
• Singapore Citizen
• Permanent Resident of Singapore
• Inpossession of a valid Singapore Employment permit
The government also requires that once a company is registered, they must maintain records and accounts for all the business they carry out in Singapore and those records must be kept by a corporate secretary that is a Singapore Citizen.
A third requirement is that the company must have a valid Singapore address and by address they do not mean just a post office box number. In fact not only must a business have an actual office in Singapore but that office must be open during all regular Singapore office hours.
These requirements could sometimes seem a little awkward to meet but in order to simplify matters, some Singapore businesses specialize in helping companies to register in Singapore. These companies can offer advice and perhaps even names of people that could be nominated as a director. They can also do the same for corporate secretaries but in this instance, they may even offer their own services; which of course, simplifies things even further. Lastly, these businesses will be aware of any office space which is or may soon become available to either rent or buy.
Once a company has registered, not only will they enjoy an ideal environment in which to do business but they will find that the taxation rates for companies registered in Singapore, are a lot lower than most other countries.