When it comes to business opportunities in Asia, India definitely has a special attraction towards Singapore. In the recent years, you could have heard about several Indian startups relocating to Singapore. One of the major reasons why people flock to Singapore is due to the city’s strategic location. Perhaps, it has become the leading hub for the Indian investments. Like Hong Kong played a key role in the evolution of Chinese markets, Singapore is becoming one for India.
In the recent official three day visit to Singapore, Indian Prime Mr. Narendra Modi attended an enterprise event organized jointly by ambassadors of India and Singapore. As the result of this conference, it became evident that around 8000 companies have registered in Singapore since the 21 century.
Although this involves different sorts of business categories, yet technology driven and analytics led strategies, typically the tech business is fast growing with the help of A1 Business (leading service provider for the startup companies foreign and local). But what are the actual reasons for the plenty of Indian startups in Singapore?
Why are Indians starting their business in Singapore?
Although a few years ago, Silicon valley in the western hemisphere was regarded as the best location for startups, however there are certain factors that made Singapore more suitable for new startups especially the technology and health care industry
Let us see what are the factors that makes Singapore irresistible for Indian startups?
Easy Registration Process
Starting a company in Singapore is a fairly easy process. New business registration in Singapore usually takes around 3 business days which essentially requires three steps to be followed. Apparently before that, you would in need of a company name. In order to have a company name, you must get the approval from the registered business in Singapore like the A1 business registration in Singapore.
Favorable fund raising atmosphere
Singapore is generally considered as friendly place for startups because their ecosystem is vibrant. Furthermore, the landscape of Singapore private equity has become more robust these days. Even the federal governments offer plenty of business grants for new startups in the industry of science, technology and health fields.
However when you don’t want to go for these options, you have other funding choices like
- Tap Personal Savings
- Use of credit cards
- You can sell your personal assets like house, jewelry, shares etc.
- Go for any loan programs and few others
Corporate Taxing scheme in Singapore are quite friendly
Singapore has a wide reputation for attractive tax benefits that is quite approaching and attractive for the new business owners. Startups are usually charged flat tax rate of 17 percent on its chargeable income. Perhaps this is the highest tax paid by the companies that belongs to certain jurisdictions.
Starting a business has never been easy. There are plethora of challenges that you need to come across to achieve your business goal. Apparently startups leading service providers like A1 business https://www.a1corp.com.sg/singapore-virtual-office-address/ helps the tech companies and other new startups to make more money.
With the help of these service providers, registering business in Singapore is no longer a concern!