Motor vehicle sellers in Singapore Selling motor vehicles and cars in Singapore is a complex activity which implies the following activities: - importing the motor vehicles in Singapore, - selling new vehicles, - selling second-hand vehicles, - selling motor vehicles and car bodies and parts of de-registered vehicles. All cars and…
Foreign investments represent an important source of income to the economy of Singapore, which is why the government have enabled many incentives over time through which it attracted enterprisers from all over the world. Most of these incentives were and are still granted under the form of tax breaks or deductions. One of…
Singapore has a favorable taxation system which applies progressively to individuals and a flat rate to companies in the city-state. Foreign companies will be taxed on the income generated in Singapore only, which can lead to higher rates. This is why foreign investors usually choose to open a Singapore company rather than operate…
The company registration procedure in Singapore implies several steps, among which one of the most important is for a business to have a Unique Identity Number, shortly referred to as UEN. This number is issued by the Accounting and Corporate Regulatory Authority (ACRA) once the Singapore company formation procedure is complete. The UEN number serves Singapore companies when completing various…
Under the Singapore Company Law, businesses in the city-state are required to file tax returns with the Accounting and Corporate Regulatory Authority (ACRA). Starting with December 2013, a new regulation has established that approximately all types of companies are required to use a special language for electronic communication called Extensible Business Reporting…
In Singapore, dormant companies are defined according to the regulations imposed by the Company Law as businesses which have not completed any activities from which incomes have been generated during a specific financial period. However, the Accounting and Corporate Regulatory Authority (ACRA) and the Inland Revenue Authority (IRAS), companies in Singapore are considered dormant under different circumstances. No matter…
Singapore is one of the most appealing investment destinations in Southeast Asia and it attracts thousands of entrepreneurs from Europe every year. Most European investors will choose to trade with other companies in Europe and many of these businesses are located European Union (EU) member states. In order for Singapore companies to benefit from the…
Singapore is one of the safest countries in the world, however, those who want to start businesses in the private security industry are welcome to set up companies here, as this sector is very well regulated by the Private Security Law. In order to open a Singapore security agency, an entrepreneur will need to meet certain…
The biotechnology industry is starting to become more appealing to large foreign companies which are seeking for innovative countries to move their businesses to. Singapore is currently one of the most developed economies as well as one of the most innovative countries in the world in terms of research and development which are of…
Investors looking for offshore destinations to open their companies in have multiple choices. They can set up offshore companies in countries known for the tax advantages they offer or in countries which do not offer the same advantageous conditions but compensate through other measures which help the company owners. Singapore and Belize are representative for countries…
