One of the many factors why advertising companies in Singapore thrive, aside from the fact that they are in demand and competitive, is because they enjoy a lot of tax privileges. However, it does not mean that they do things illegally or they bribe the authorities. They enjoy tax privileges simply because they respect the law. They register their companies in Singapore the right way. Indeed, the country has lots of things to offer for registered businesses.
Things You Should Know About Company Registration In Singapore
Company registration in Singapore is easy if you know where and how to start. This includes the requirements and the procedures for singapore company incorporation. You don’t need to worry if you do not know how to proceed because there are entities that can help you register company in Singapore. These entities are called corporate advisory agencies or company registration firms. In simple terms, they’ll complete the company registration process on your behalf.
Their services typically come as packages that include company name application, ACRA registration and secretarial services. Apart from the fee, you will only need to furnish a few documents. It includes the company name, a brief description of your business activities, a registered address, the paid up capital and information about the directors and the shareholders. Company incorporation in the country can be completed within two working days.
The Benefits Of Registering Your Advertising Firm
The primary benefit of registering an advertising firm in Singapore is access to a very competitive economy. It is not just a tax haven. Based on a report by Transparency International, Singapore is equal to Denmark and New Zealand when it comes to credibility. Moreover, Singapore is known as one of the most economically free countries, according to the Heritage Foundation.
Through Singapore company registration, your advertising enterprise will also enjoy a handful of tax benefits. Given that you generate income amounting to more than S$300,000 in your first three years, S$200,000 of the profits that you earned in Singapore will be legally tax-exempted. That is the reason Singapore is believed to be the country that has the least cumbersome tax policies in the world. Therefore, your advertising agency has a greater chance of thriving in this city-state.
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