Singapore’s Tax Rates Continue to Attract Business Updated on Apr 13, 2012 Singapore Business Singapore Taxes Two weeks ago, Japan cut its corporate tax rate to 36.8% from 39.5%, thus handing off the dubious distinction of having the world’s highest corporate tax rates to the United States, which holds combined federal and state tax levies at a staggering 39.2%. For those who own businesses in the US, the news is unwelcome, but not surprising. In addition to low corporate tax rates, Singapore also offers many industry-specific tax incentives, including inducements for financial services, banks, shipping and maritime and global trading businesses, which help spur growth across the board. Based on the shared experiences of business owners in various countries around the world, the city-state’s unique role in providing a stable foundation for growth to Singapore-based business entities is undeniable.
Why Singapore Could Become The Next Silicon Valley Because of its distinction as the “world’s best business environment” and its strategic location at the gateway to Asia, Singapore is becoming a favorite business relocation destination for tech startups and established technology-based businesses. Take, for example, the case of Bubble Motion, the company responsible for expanding the reach of social media into the Asia-Pacific with the introduction of their voice messaging service “Bubbly, ” a voice version of Twitter that is accessible through cellular phones and devices. For Tom Clayton, the CEO of Bubble Motion, the decision was a practical one. With 50% of his development staff and the majority of his marketing and operations staff in Singapore, Clayton and his team determined that a move across the Pacific would be in his company’s best interest. The decision to relocate to Singapore also made good sense. Bubble Motion is just one of many tech-based organizations choosing to incorporate in Singapore.
Singapore to discontinue fast-track permanent residency program for wealthy foreigners Updated on Apr 11, 2012 Singapore Immigration Note: This is an updated version of the post. A special program called Singapore Financial Investor Scheme (FIS) that fast-tracks the application process for wealthy individuals who wished to become permanent residents of Singapore is being discontinued. The FIS scheme that was administered by Monetary Authority of Singapore (MAS) required individuals to either invest in Singapore for at least SGD 10 million of assets which is to be booked and managed by a financial institution regulated by MAS or to hold at least SGD 8 million of assets and a SGD 2 million invested in a Singapore private housing property. It’s not clear exactly how many investors utilize the FIS scheme annually to become Singapore PRs but based on Janus’s own personal experience, the number is fairly small and insignificant.
Singapore aims to become a cultural destination Two important events occurring in the art world this season provide the perfect backdrop for Singapore’s expanding footprint in the global arts community. Fans of artist Andy Warhol will find 2012 filled with opportunities to see the artist achieve new acclaim for his groundbreaking works and aesthetic. The upcoming auction of his pop art masterpieces, including Andy Warhol’s Brigitte Bardot (1974) and Flowers (1970) set for next month in London, is expected to pull in tens of millions of British pounds. Meanwhile here in Asia, an exhibition of Warhol’s most prominent works, “Andy Warhol: 15 Minutes Eternal” currently on display at the ArtScience Museum of Singapore, features a massive catalog of his most famous pieces, including Marilyn Monroe (1967), Campbell’s Soup (1961), and The Last Supper (1986). Other cities on the Warhol tour include Hong Kong, the city that is currently locked in competition with the island nation of Singapore to become Asia’s regional arts hub.
Unhappy in the UK? Move to S’pore A recent survey made headlines when it revealed that moving out of the country was on the wish list of more than half a million of UK’s well heeled – all thanks to the the city’s growing crime rate, abysmal weather, antisocial behavior, and high cost of living. High tax rates and business red-tape came in as secondary factors. This hardly comes as a surprise given UK’s high crime rate, it’s rather unpredictable and strange weather, and the recent punitive tax measures adopted by the country. Singapore may have earned itself the nickname of “fine city” or “nanny state” but it’s tough criminal laws are undeniably what have helped preserve its high ranking on safety. Moving on to to the weather, Singapore being a tropical isle is both hot and rainy. Tax rates in Singapore are yet another factor that works in its favor as compared to the UK. As far as business red tape and Singapore are concerned, the country is a model of government efficiency. “I came here a year ago.
Janus Publishes A Survey Of Funding Options For Singapore Startups Singapore (PRWEB) April 05, 2012 Janus Corporate Solutions, a leading Singapore firm that helps startups and established firms with their entry or expansion in Singapore, has released a set of comprehensive guides that provide entrepreneurs with one-stop information on funding options and financial assistance schemes that are available for startups in Singapore. The guides are published on a leading Singapore-focused business information portal and a unit of Janus Corporate Solutions; they focus on the three major sources of finance for startups in Singapore - private equity funding, private debt-financing, and Government assistance schemes. The guides are a one-stop resource for entrepreneurs who are keen to gain more insights into the various startup funding options in Singapore. Each of the guides focuses on a specific area of funding and the guides are presented in a simple and easy-to-read format.
Private Equity Financing for Singapore Startups - Resources & Guide | Venture Capital, Angel Investment, Venture Fund In equity financing, you sell partial ownership of your company in exchange for cash. The investors assume all the risk i.e. if the company fails, they lose their money. But if it succeeds, they typically make much greater return on their investment than interest rates. Compared to debt financing, equity financing is far more expensive if your company is successful, but far less expensive if it isn’t. The rise of Asia is rapidly spurring the birth of new startups and private equity players in Singapore. This guide provides an overview of the private equity financing options for start-ups in Singapore. What is Private Equity Financing? One of the major challenges that start-ups face in their early stage is access to capital. Private equity financing refers to capital from private investors who are looking at capital gains and possibly dividend returns in return for their investment in a firm. Angel Investment Scene in Singapore Venture Capital Industry in Singapore
Singapore: World Class for Business Travellers Following a record year for Singapore tourism, which included visitor arrivals totaling 13.2 million and tourism receipts in the neighbourhood of S$22.2 billion, Singapore’s Tourism Board (STB) has announced plans to unveil a cruise ship terminal in the next several months. The terminal will accomodate an increased number of tourists and luxury liners like those operated by Norwegian and Royal Caribbean. Surrounded by water and an excellent stopover for ships traveling throughout the Asia-Pacific region, the terminal represents a natural step in the expansion of Singapore’s travel and tourism industry. Singapore has earned numerous accolades when it comes to business and economics, but is Singapore a world-class tourism destination? Well, if you love beautiful, clean and sophisticated cities, then the answer is “yes”. In reviewing the World Travel Awards list of 2012 Asia nominees, it is clear where Singapore is poised to excel in the Asian market and beyond: luxury travel.